ECB adopts decisions to follow up on the review of its risk control framework
The Governing Council of the European Central Bank (ECB) has adopted Decision ECB/2013/35 on additional measures relating to Eurosystem refinancing operations and eligibility of collateral, as well as Decision ECB/2013/36 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral.
The Decisions published today include measures to further strengthen the risk control framework by adjusting the eligibility criteria and haircuts applied to collateral accepted in the Eurosystem’s monetary policy operations, already announced by the Governing Council on 18 July 2013, and measures to enhance the loan-level reporting requirements for residential mortgage-backed securities and securities backed by loans to small and medium-sized enterprises, as announced on 9 September 2013. Moreover, the Decisions include additional provisions to improve the overall consistency of the framework and its practical implementation, as agreed and announced by the Governing Council in the course of 2013.
The new legal acts are available on the ECB’s website and will apply as of 1 October 2013, unless otherwise provided for.