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Clifford Chance

Clifford Chance

Briefings

Eligible collateral: Expanded for credit institutions as ECB 'STEPs' in

26 September 2011

Currently, in order to be eligible as collateral for Eurosystem monetary policy operations, securities issued by credit institutions have to be admitted to trading on a regulated market in the EEA. From 1 January 2012, this will be expanded to include securities admitted to trading on certain other markets (such as STEP, the Euro MTF and others).

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