ECB announces phased end to Covid-19 collateral loosening

Euro symbol, Willy Brandt Platz, Frankfurt

The European Central Bank announced a two-year process to phase out the looser collateral requirements it implemented in response to the Covid-19 pandemic.

In April 2020, the ECB loosened the collateral requirements for national central banks in the Eurosystem wanting to lend to banks. This widened eurozone banks’ access to the ECB’s emergency liquidity operations.

Under the scheme, national central banks could accept as collateral loans made in foreign currencies, to particular types of

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