Cross-border collateral in Eurosystem credit operations

This section sets out assets used as collateral for Eurosystem credit operations outside of the country of issue.

• Total collateral held in the custody of the Eurosystem
• Collateral mobilised via the CCBM and eligible links, by country of issue
• Collateral mobilised via the CCBM and eligible links, by lending country
• Evolution of collateral mobilised via the CCBM and eligible links

Cross-border collateral can be used for monetary policy operations or to obtain liquidity in TARGET. It can be mobilised via the correspondent central banking model (CCBM) and eligible links.

In the CCBM, the correspondent central bank (CCB) provides custody services to the home central bank (HCB), who provides the credit.

Links are created when the investor Securities Settlement System (SSS) opens an omnibus account for its clients in the issuer SSS. Only eligible links may be used in Eurosystem credit operations.