- Harmonized rules and arrangements defined for mobilization and management of collateral in Eurosystem credit operations
- Marks step towards European capital markets union (CMU)
- New rules take effect with launch of Eurosystem Collateral Management System (ECMS), scheduled for 18 November 2024
The European Central Bank (ECB) published harmonized rules and arrangements for the mobilization and management of collateral in Eurosystem credit operations marking a step towards further financial integration in the euro area and the capital markets union.
The ECMS is a unified system for managing assets mobilized as collateral in Eurosystem credit operations. It will replace the existing individual collateral management systems belonging to the national central banks of the euro area countries.