NP: Dollar, Pound and Yen to be used as collateral in Eurosystem credit operations
Following the meeting of the Governing Council of the European Central Bank on 6 September 2012 at its premises in Frankfurt am Main, Germany, Mario Draghi President of the ECB announced reding from a press release that the ECB has decided that marketable debt instruments denominated in currencies other than the euro, namely the US dollar, the pound sterling and the Japanese yen, and issued and held in the euro area, are eligible to be used as collateral in Eurosystem credit operations until further notice. This measure reintroduces a similar decision that was applicable between October 2008 and December 2010, with appropriate valuation markdowns.
These measures will come into force with the relevant legal acts.ECB interest rates have not changed.
