PRESS RELEASE

Update on the assessment of links between securities settlement systems

4 July 2001

On 3 July 2001 the Governing Council of the European Central Bank (ECB) approved five further links between securities settlement systems (SSSs) which can be used to transfer foreign collateral in the monetary policy and intraday credit operations, thus bringing the total number of currently eligible links to 66 (see the table below). The new links are from SCLV (Spain) to Necigef (the Netherlands), Necigef to SCLV, Euroclear (Belgium) to Crest (the United Kingdom), Crest to Euroclear, and Monte Titoli (Italy) to Clearstream (Luxembourg). In addition, the link from Euroclear (France) to CIK (Belgium) has been withdrawn from the list because it does not yet handle eligible assets.

The increase in the number of links contributes to the integration of the euro area financial markets. Their assessment ensures an even and high standard for the European securities infrastructure.

The updated list of links can be found on the ECB's website, together with the dates for future assessments of links. The launch of the seventh round of link assessments has been scheduled to start on 1 October 2001.

Table: List of eligible links

Country Eligible links
Belgium CIK to Euroclear (France) CIK to Monte Titoli (Italy) CIK to Necigef (Netherlands) Euroclear (Belgium) to NBB SSS (Belgium) Euroclear (Belgium) to Clearstream (Luxembourg) Euroclear (Belgium) to Clearstream (Germany) Euroclear (Belgium) to OeKB (Austria) Euroclear (Belgium) to VP (Denmark) Euroclear (Belgium) to Necigef (the Netherlands), operated by ABN AMRO Euroclear (Belgium) to Euroclear (France), operated by Société Générale Euroclear (Belgium) to Monte Titoli (Italy), operated by UniCredito Italiano Euroclear (Belgium) to Crest (the United Kingdom)*
Germany Clearstream (Germany) to Euroclear (France) Clearstream (Germany) to Necigef (the Netherlands) Clearstream (Germany) to OeKB (Austria) Clearstream (Germany) to APK (Finland) Clearstream (Germany) to Clearstream (Luxembourg) Clearstream (Germany) to CADE (Spain) Clearstream (Germany) to Monte Titoli (Italy)
Spain CADE to Clearstream (Germany) CADE to Euroclear (France) CADE to Monte Titoli (Italy) CADE to Necigef (the Netherlands) SCLV to Monte Titoli (Italy) SCLV to Euroclear (France) SCLV to Necigef (The Netherlands)*
France Euroclear (France) to Clearstream (Germany) Euroclear (France) to Necigef (the Netherlands) Euroclear (France) to Monte Titoli (Italy) Euroclear (France) to OeKB (Austria) Euroclear (France) to NBB SSS (Belgium) Euroclear (France) to CADE (Spain) Euroclear (France) to APK (Finland) Euroclear (France) to Clearstream (Luxembourg) Euroclear (France) to SCLV (Spain) Euroclear (France) to Euroclear (Belgium)
Italy Monte Titoli to Euroclear (Belgium) Monte Titoli to Clearstream (Germany) Monte Titoli to Euroclear (France) Monte Titoli to OeKB (Austria) Monte Titoli to SCLV (Spain) Monte Titoli to CADE (Spain) Monte Titoli to Necigef (the Netherlands) Monte Titoli to Clearstream (Luxembourg)*
Luxembourg Clearstream (Luxembourg) to Euroclear (Belgium) Clearstream (Luxembourg) to Clearstream (Germany) Clearstream (Luxembourg) to NBB SSS (Belgium), operated by Banque Bruxelles Lambert Clearstream (Luxembourg) to OeKB (Austria), operated by Erste Bank Clearstream (Luxembourg) to VP (Denmark), operated by Den Danske Bank Clearstream (Luxembourg) to Necigef (the Netherlands), operated by Kas Associatie Clearstream (Luxembourg) to Monte Titoli (Italy), operated by Sanpaolo IMI
The Netherlands Necigef to Euroclear (France) Necigef to Clearstream (Germany) Necigef to OeKB (Austria) Necigef to CADE (Spain) Necigef to Monte Titoli (Italy) Necigef to SCLV (Spain)*
Austria OeKB to Euroclear (Belgium) OeKB to Clearstream (Germany) OeKB to Euroclear (France) OeKB to Monte Titoli (Italy) OeKB to Necigef (the Netherlands) OeKB to Clearstream (Luxembourg)
Finland APK to Clearstream (Germany) APK to Euroclear (France)
United Kingdom Crest to Euroclear (Belgium)*

* New links

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