Regulatory Alerts2018-04-27
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Decision No. 2018-02 of 16 April 2018 amending Decision No. 2016-02 of 25 January 2016 on valuation haircuts applied during the implementation of the Eurosystem monetary policy
The Governor of the Bank of France issues Decision No. 2018-02 to amend the regulatory framework governing valuation haircuts for assets used in the Eurosystem's monetary policy operations. The decision updates the classification of coupon structures, defines residual duration for own-account covered bonds, and establishes specific haircuts for private claims and retail mortgage-backed debt instruments. These amendments align national rules with ECB orientations and take effect on 16 April 2018, with certain provisions regarding private claims effective from 1 October 2018.
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