Establishment of high credit standards for marketable assets

Only high credit quality assets are accepted as collateral .

Banks hold government and corporate loans as assets.

The verdicts of rating agencies on asset quality can also be flawed.

The high credit standards for marketable assets are established on the basis of the following set of criteria

This change to the credit assessment requirement shall apply to both marketable and non marketable assets , with the exception of asset backed securities as described in Chapter 6.3 of the General Documentation , for which the requirement for high credit standards shall remain unchanged .

This change to the credit assessment requirement shall apply to both marketable and non marketable assets , with the exception of asset backed securities as described in Section 6.3 of the General Documentation , for which the requirement for high credit standards shall remain unchanged .

Credit standards The debt instrument must meet the high credit standards specified in the ECAF rules for marketable assets , as set out in Section 6.3.2 .

CREDIT STANDARDS The debt instrument must meet the high credit standards specified in the ECAF rules for marketable assets , as set out in Section 6.3.2 .

An important criterion of eligibility is that assets used as collateral in Eurosystem credit operations must meet high credit standards .

The quality of the assets backing the bonds depends solely on issuers goodwill and technical skills.

Accordingly , the ECB considers that the NCBs should manage the foreign reserves transferred to it as its agents .

No distinction is made between the two asset classes with regard to the quality of the assets and their eligibility for the various types of Eurosystem monetary policy operations , except that non marketable assets are not used by the Eurosystem for outright transactions .

1.2 Credit risk assessment Assets used as collateral in Eurosystem credit operations must meet high credit standards .

Such limits can also be applied to specific counterparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral submitted by the counterparty .

Such limits may also be applied to specific counterparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral submitted by the counterparty .'

Such measures can also be applied to specific counterparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral assets submitted by the counterparty .

Such exclusion can also be applied to specific counterparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral submitted by the counterparty .

Such limits can also be applied to specific coun terparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral submitted by the counterparty .

In addition , it is responsible for advising on the minimum required level of credit quality of new asset classes that from time to time are proposed for inclusion in the eligible collateral pool of the Eurosystem .

No distinction is made between marketable and non marketable assets with regard to the quality of the assets and their eligibility for the various types of Eurosystem monetary policy operations , except that non marketable assets are not used by the Eurosystem for outright transactions .

Such exclusion may also be applied to specific counterparties , in particular if the credit quality of the counterparty appears to exhibit a high correlation with the credit quality of the collateral submitted by the counterparty .'

The asset must meet high credit standards . The high credit standards are assessed using ECAF rules for marketable assets ( 3 ) .

The high credit standards are assessed using ECAF rules for marketable assets . 3 ) Non marketable assets 2 ) Credit claims .

Recent developments in the markets for asset backed securities made it necessary to amend the Eurosystem credit assessment framework ( ECAF ) to ensure that the Eurosystem 's requirement for high credit standards for all eligible collateral is met .

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Assuring Quality

And financial stability could be threatened not only by the quality of bank assets, but also by the sheer scale of bank liabilities.

The credit quality of the eligible assets is constantly monitored to check that it is equivalent to at least the minimum level of financial soundness specified by the Eurosystem .

As from 1 January 2012 common minimum threshold of Euros 500,000 throughout the euro area .

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