PRESS RELEASE

Update of the assessment of links between securities settlement systems in the euro area

9 November 2006

The Governing Council of the European Central Bank has updated the assessment of links between securities settlement systems (SSSs) eligible for the settlement of collateral for Eurosystem credit operations. Links between SSSs are assessed periodically against the “Standards for the use of EU securities settlement systems in ESCB credit operations” published by the European Monetary Institute in 1998.

The overall level of compliance with the standards is high, and the SSSs have maintained their efforts to enhance compliance further. The list of all eligible links is set out in the table below, which replaces the list published in a press release on 28 June 2005.

Table: List of links eligible for Eurosystem credit operations

Country Eligible links
Belgium Euroclear Bank to NBB SSS (Belgium)
Euroclear Bank to Clearstream Banking S.A. (Luxembourg)
Euroclear Bank to Clearstream Banking Frankfurt (Germany)
Euroclear Bank to OeKB (Austria)
Euroclear Bank to Euroclear Nederland (the Netherlands)
Euroclear Bank to Euroclear France (France)
Euroclear Bank to Monte Titoli (Italy), operated by UniCredito Italiano.
Germany Clearstream Banking Frankfurt to Euroclear France (France)
Clearstream Banking Frankfurt to Euroclear Nederland (the Netherlands)
Clearstream Banking Frankfurt to OeKB (Austria)
Clearstream Banking Frankfurt to APK (Finland)
Clearstream Banking Frankfurt to Clearstream Banking S.A. (Luxembourg)
Clearstream Banking Frankfurt to IBERCLEAR-CADE (Spain)
Clearstream Banking Frankfurt to Monte Titoli (Italy)
Spain IBERCLEAR-CADE to Clearstream Banking Frankfurt (Germany)
IBERCLEAR-CADE to Euroclear France (France)
IBERCLEAR-CADE to Monte Titoli (Italy)
IBERCLEAR-CADE to Euroclear Nederland (the Netherlands)
IBERCLEAR-SCLV to Monte Titoli (Italy)
IBERCLEAR-SCLV to Euroclear France (France)
IBERCLEAR-SCLV to Euroclear Nederland (the Netherlands)
France Euroclear France to Clearstream Banking Frankfurt (Germany)
Euroclear France to Euroclear Nederland (the Netherlands)
Euroclear France to Monte Titoli (Italy)
Euroclear France to OeKB (Austria)
Euroclear France to NBB SSS (Belgium)
Euroclear France to IBERCLEAR-CADE (Spain)
Euroclear France to APK (Finland)
Euroclear France to Clearstream Banking S.A. (Luxembourg)
Euroclear France to IBERCLEAR-SCLV (Spain)
Euroclear France to Euroclear Bank (Belgium)
Italy Monte Titoli to Euroclear Bank (Belgium)
Monte Titoli to Clearstream Banking Frankfurt (Germany)
Monte Titoli to Euroclear France (France)
Monte Titoli to OeKB (Austria)
Monte Titoli to IBERCLEAR-SCLV (Spain)
Monte Titoli to IBERCLEAR-CADE (Spain)
Monte Titoli to Euroclear Nederland (the Netherlands)
Monte Titoli to Clearstream Banking S.A. (Luxembourg)
Luxembourg Clearstream Banking S.A. to Euroclear Bank (Belgium)
Clearstream Banking S.A. to Clearstream Banking Frankfurt (Germany)
Clearstream Banking S.A. to NBB SSS (Belgium), operated by ING Belgium
Clearstream Banking S.A. to OeKB (Austria), operated by Erste Bank
Clearstream Banking S.A. to Euroclear Nederland (the Netherlands), operated by Kas Associatie
Clearstream Banking S.A. to Monte Titoli (Italy), operated by Banca Intesa S.p.A.
Netherlands Euroclear Nederland to Euroclear France (France)
Euroclear Nederland to Clearstream Banking Frankfurt (Germany)
Euroclear Nederland to OeKB (Austria)
Euroclear Nederland to IBERCLEAR-CADE (Spain)
Euroclear Nederland to Monte Titoli (Italy)
Euroclear Nederland to IBERCLEAR-SCLV (Spain)
Austria OeKB to Euroclear Bank (Belgium)
OeKB to Clearstream Banking Frankfurt (Germany)
OeKB to Euroclear France (France)
OeKB to Monte Titoli (Italy)
OeKB to Euroclear Nederland (the Netherlands)
OeKB to Clearstream Banking S.A. (Luxembourg)
Finland APK to Clearstream Banking Frankfurt (Germany)
APK to Euroclear France (France)

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