Regulatory Alerts2017-07-21
Decision No. 2017-01 of July 21, 2017 amending Decision No. 2015-01 of April 22, 2015 on the implementation of monetary policy and intraday credit of the Bank of France
The Governor of the Bank of France issued Decision No. 2017-01 to amend the framework governing monetary policy and intraday credit by formally defining "liquidation structures" and restricting their access to Eurosystem operations. The amendment stipulates that such structures are generally ineligible for monetary policy operations unless they were admitted as eligible counterparties before March 22, 2017, in which case eligibility is limited until December 31, 2021. Furthermore, the Eurosystem is empowered to suspend, limit, or remove access for counterparties that transfer liquidity to ineligible liquidation structures based on prudential principles.
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