How are triparty agents (TPAs) made eligible?

In order to be deemed eligible to provide triparty collateral management services (TCMS) for Eurosystem credit operations, a TPA needs to be positively assessed by the Eurosystem against a set of user standards applicable to both the cross-border and domestic use of triparty collateral management services. The general objective of these standards is to ensure the safety and efficiency of the services provided by TPAs in relation to Eurosystem credit operations.

Eurosystem standards for the use of triparty agents in Eurosystem credit operations

To ensure the continuous compliance of TPAs with the user standards, the Eurosystem regularly conducts assessment reviews and monitors the implementation of its recommendations.

How to apply for eligibility

TPAs that provide TCMS and intend for their services to be used for Eurosystem credit operations should submit a written request to the NCB of the Member State in which they are established. The Eurosystem decision regarding the eligibility of the TPA will be notified to the entity which submitted the application.