Regulatory Alerts2026-01-22
Guideline (EU) 2026/692 of the European Central Bank amending Guideline (EU) 2024/3129 on the management of collateral in Eurosystem credit operations
The Governing Council of the European Central Bank amends Guideline (EU) 2024/3129 to formally remove retail mortgage-backed debt instruments and non-marketable debt instruments backed by eligible credit claims from the list of eligible collateral for Eurosystem credit operations. The revised framework updates key definitions regarding domestic and cross-border mobilisation, clarifies National Central Bank account structures, and restricts credit claim mobilisation exclusively to the correspondent central banking model. Eurosystem central banks must implement these operational and procedural changes by 30 March 2026 following notification.
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