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Document 32018O0005

Guideline (EU) 2018/572 of the European Central Bank of 7 February 2018 amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2018/5)

OJ L 95, 13.4.2018, p. 49–49 (BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

Legal status of the document In force

ELI: http://data.europa.eu/eli/guideline/2018/572/oj

Date of document:
07/02/2018; Date of adoption
Date of effect:
13/04/2018; Takes effect Date notif. See Art 2.1
Date of effect:
16/04/2018; Application See Art 2.2
Date of notification:
13/04/2018; The act was notified but the date of notification is not available on EUR-Lex – the date of publication is used instead.
Deadline:
16/03/2018; At the latest See Art 2.2
Date of end of validity:
No end date
Author:
European Central Bank
Form:
Guideline
Addressee:
the national central banks of participating Member States
Treaty:
Treaty on the Functioning of the European Union
Legal basis:
Link
Link
Link
Select all documents mentioning this document
Modifies:
Relation Act Comment Subdivision concerned From To
Modifies 32014O0031 Repeal article 3 paragraph 1 point (a) PT (iii) 16/04/2018
Link

13.4.2018   

EN

Official Journal of the European Union

L 95/49

GUIDELINE (EU) 2018/572 OF THE EUROPEAN CENTRAL BANK

of 7 February 2018

amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2018/5)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular the first indent of Article 127(2) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular the first indent of Article 3.1, and Articles 5.1, 12.1, 14.3 and 18.2 thereof,

Whereas:

(1)

The Governing Council of the European Central Bank (ECB) has decided that commercial mortgage-backed securities (CMBSs) should be made ineligible as collateral under the Eurosystem collateral framework as the risks and complexity of CMBSs are substantially different, both in terms of underlying assets and structural features, from other asset-backed securities accepted by the Eurosystem as collateral.

(2)

Therefore, Guideline ECB/2014/31 (1) should be amended accordingly,

HAS ADOPTED THIS GUIDELINE:

Article 1

Amendment

In Article 3(1)(a) of Guideline ECB/2014/31, point (iii) is deleted.

Article 2

Taking effect

1.   This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.

2.   The national central banks of the Member States whose currency is the euro shall take the necessary measures to comply with this Guideline and apply them from 16 April 2018. They shall notify the ECB of the texts and means relating to those measures by 16 March 2018 at the latest.

Article 3

Addressees

This Guideline is addressed to all Eurosystem central banks.

Done at Frankfurt am Main, 7 February 2018.

For the Governing Council of the ECB

The President of the ECB

Mario DRAGHI

(1)  Guideline ECB/2014/31 of 9 July 2014 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral and amending Guideline ECB/2007/9 (OJ L 240, 13.8.2014, p. 28).

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