PRESS RELEASE

Updated assessment of links between securities settlement systems

3 February 2000

On 3 February 2000 the Governing Council of the European Central Bank approved six further links between securities settlement systems (SSSs) which can be used for the transfer of foreign collateral in the Eurosystem's monetary policy and intraday credit operations.

Including the links approved by the Governing Council on 20 May and 7 October 1999, the total number of links which are currently eligible for use by the Eurosystem has therefore increased from 47 to 53 (see the table below).

The increase in the number of links between SSSs is a key factor in the integration of the euro area financial markets. The assessment of SSSs and their links against ECB standards ensures an even and high standard for the European securities infrastructure.

The updated list of links can be found on the ECB's Web site, together with the dates for the future assessment of links.

Table: List of eligible links

Country Eligible links
BELGIUM CIK to SICOVAM (France) CIK to Monte Titoli (Italy) CIK to Necigef (Netherlands) Euroclear to NBB SSS (Belgium) Euroclear to Clearstream (Luxembourg) Euroclear to Clearstream (Germany) Euroclear to OeKB (Austria) Euroclear to VP (Denmark) Euroclear to CGO (United Kingdom) Euroclear to Necigef (Netherlands) Euroclear to BdI CAT (Italy)
GERMANY Clearstream (Germany) to SICOVAM (France) Clearstream (Germany) to Necigef (Netherlands) Clearstream (Germany) to OeKB (Austria) Clearstream (Germany) to APK (Finland) Clearstream (Germany) to Clearstream (Luxembourg) Clearstream (Germany) to CADE (Spain) Clearsream (Germany) to Monte Titoli (Italy)
FRANCE SICOVAM to Clearstream (Germany) SICOVAM to Necigef (Netherlands) SICOVAM to Monte Titoli (Italy) SICOVAM to OeKB (Austria) SICOVAM to NBB SSS (Belgium) SICOVAM to CADE (Spain) SICOVAM to APK (Finland)
ITALY Monte Titoli to Euroclear (Belgium) Monte Titoli to Clearstream (Germany) Monte Titoli to SICOVAM (France) Monte Titoli to OeKB (Austria) Monte Titoli to SCLV (Spain) Monte Titoli to CADE (Spain)
AUSTRIA OeKB to Euroclear (Belgium) OeKB to Clearstream (Germany) OeKB to SICOVAM (France) OeKB to Monte Titoli (Italy) OeKB to Necigef (Netherlands) OeKB to Clearstream (Luxembourg)
SPAIN CADE to Clearstream (Germany) CADE to SICOVAM (France) CADE to Monte Titoli (Italy) SCLV to Monte Titoli (Italy)
LUXEMBOURG Clearstream (Luxembourg) to Euroclear (Belgium) Clearstream (Luxembourg) to CGO (United Kingdom) Clearstream (Luxembourg) to Clearstream (Germany) Clearstream (Luxembourg) to NBB SSS(Belgium) Clearstream (Luxembourg) to BdI CAT (Italy) Clearstream (Luxembourg) to OeKB (Austria) Clearstream (Luxembourg) to VP (Denmark)
THE NETHERLANDS Necigef to SICOVAM (France) Necigef to Clearstream (Germany) Necigef to OeKB (Austria)
FINLAND APK to Clearstream (Germany) APK to SICOVAM (France)

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