CCBM market practices

In principle, the use of the CCBM does not require counterparties to adopt special procedures beyond arranging the transfer of the securities in a different country. But counterparties should be aware that market practices in other countries may be different to those in their own country.

Different types of collateralisation techniques (repos, assignments, pledges and floating charges) and different methods of holding collateral (pooled and earmarked collateral systems) are used in the EU. Moreover, securities settlement systems (SSSs) in the EU have different operating procedures that the counterparty must take into account when transferring collateral held in a different country.

See below for an overview of information related to the CCBM in each country. This information is not intended to be exhaustive, and should be read together with the publication “CCBM - procedures for Eurosystem counterparties” (see on the right-hand side).

For further details, consult:
  • the manual of procedures of local SSSs,
  • information on national market practices as published by SWIFT or
  • the national central banks (NCBs) of the Eurosystem and the ESCB.

Market practices in