ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
The European Central Bank has adjusted its framework for setting haircuts on collateral posted to its key credit operations.
The exercise, which is conducted regularly, aimed to ensure adequate risk protection, improve the “consistency” of the risk control framework and “enhance risk equivalence of assets”.
Related The ECB’s collateral conundrumA lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates
At the same time, the
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