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Document 32020O1692
Guideline (EU) 2020/1692 of the European Central Bank of 25 September 2020 amending Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2020/46)
Guideline (EU) 2020/1692 of the European Central Bank of 25 September 2020 amending Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2020/46)
Guideline (EU) 2020/1692 of the European Central Bank of 25 September 2020 amending Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2020/46)
OJ L 379, 13.11.2020, p. 94–95
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
In force
13.11.2020 |
EN |
Official Journal of the European Union |
L 379/94 |
GUIDELINE (EU) 2020/1692 OF THE EUROPEAN CENTRAL BANK
of 25 September 2020
amending Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework
(ECB/2020/46)
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, Articles 9.2, 12.1, 14.3, 18.2 and the first paragraph of Article 20 thereof,
Whereas:
(1) |
Adjustments need to be made to the Eurosystem risk control and valuation framework to reflect the fact that non-legislative covered bonds (i.e. contractual covered bonds) should no longer be accepted as Eurosystem collateral. |
(2) |
Therefore, Guideline (EU) 2016/65 of the European Central Bank (ECB/2015/35) (1) should be amended accordingly, |
HAS ADOPTED THIS GUIDELINE:
Article 1
Amendments
Guideline (EU) 2016/65 (ECB/2015/35) is amended as follows:
(1) |
Article 2 is amended as follows:
|
(2) |
in the Annex, Table 1 is replaced by the following: ‘Table 1 Haircut categories for eligible marketable assets based on the type of issuer and/or type of asset
|
Article 2
Taking effect and implementation
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 1 January 2021.They shall notify the European Central Bank of the texts and means relating to those measures by 6 November 2020 at the latest.
Article 3
Addressees
This Guideline is addressed to the national central banks of the Member States whose currency is the euro.
Done at Frankfurt am Main, 25 September 2020.
For the Governing Council of the ECB
The President of the ECB
Christine LAGARDE
(1) Guideline (EU) 2016/65 of the European Central Bank of 18 November 2015 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2015/35) (OJ L 14, 21.1.2016, p. 30).