ECB’s González-Páramo highlights flaws in collateral framework

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An executive board member of the European Central Bank (ECB) has acknowledged that the institutions collateral framework, a relic of the policies of the central bank's founding members, presents risks.

"A broad collateral framework, such as that adopted by the eurosystem, has considerable merits in crisis times. But, at the same time, it poses significant challenges going forward," José Manuel González-Páramo on Friday said.

The ECB accepts a far broader range of collateral than the likes of the

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