Update of the list of eligible securities settlement systems in the euro area

The Governing Council of the European Central Bank (ECB) has updated the list of securities settlement systems (SSSs) eligible for the settlement of collateral for Eurosystem credit operations.

Two additional systems have been assessed against the “Standards for the use of EU securities settlement systems in ESCB credit operations” ^[1]. First, VP Lux S.à r.l., incorporated in Luxembourg and a subsidiary of the Danish central securities depository (CSD) Værdipapircentralen A/S (VP), was assessed and found to be compliant with the Eurosystem user standards. Second, in the context of Slovakia’s entry to the euro area as of 1 January 2009, the SSS operated by the CSD of the Slovak Republic, Centrálny depozitár cenných papierov SR a. s. (CDCP), was also assessed and considered to be compliant with the Eurosystem user standards. CDCP may be used by counterparties of the Eurosystem for the collateralisation of credit operations as of 1 January 2009.

Moreover, in March 2008 the National Treasury Management Agency, an eligible SSS in Ireland, closed its system for the settlement of Irish Government exchequer notes. As a result the system has been removed from the list of eligible SSSs.

The eligible SSSs and their settlement procedures are listed in the table published on the ECB’s website, ^[2] which replaces the table published on 28 December 2007.