Legal Spotlight

Eligible collateral

On January 20, the European Central Bank announced two new requirements that asset-backed securities must satisfy if Eurozone banks are to be able to use them as collateral for monetary operations, including one-month and three-month repo financing, with Eurozone central banks. Repo financing has become increasingly important to Eurozone banks over the past year as the availability of other sources of finance has been severely constricted. Eurozone banks have been taking portf

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