Collateral mobilised in Eurosystem credit operations

This section provides information on assets mobilised as collateral for Eurosystem credit operations.

Payment & Markets: Eurosystem collateral data

• 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

Collateral can be mobilised on a domestic or cross-border basis to collateralise Eurosystem credit operations.

The series of procedures and arrangements by which collateral may be mobilised are collectively known as mobilisation channels. 

For marketable assets, the available channels are:

• domestic: mobilisation of marketable assets issued and held in a CSD located in the same country as the NCB;
• links: mobilisation of marketable assets using links between SSSs operated by CSDs in order to allow participants in one (investor) CSD to hold and mobilise securities issued in another (issuer) CSD;
• CCBM: mobilisation of marketable assets issued in a CSD located in a different country from the NCB, using another NCB as custodian;
• direct access: mobilisation of marketable assets issued or held in a CSD located in a different country from the NCB, using an NCB account held in that CSD. 

Non-marketable assets can be mobilised on a domestic basis and, in the case of credit claims, also via the CCBM with the NCB of the country whose law governs the credit claims acting as a correspondent central bank (CCB).