May 2025

16 May 2025

Market operations

Annual review of the list of acceptable non-regulated markets and the list of recognised agencies in the Eurosystem’s collateral framework

On 22 April 2025 the Governing Council decided, following the annual review of these lists, not to make changes to the list of non-regulated markets accepted by the ECB or to the list of issuers recognised by the ECB as agencies eligible for participation in the Eurosystem’s collateral framework. The Governing Council also decided to assign two agencies (Caisse des dépôts et consignations and Finnvera PLC) to a more favourable haircut category after they were found to comply with the relevant quantitative criteria. Conversely, the Governing Council decided to reclassify LfA Förderbank Bayern from haircut category II to the more conservative haircut category IV. The current lists are available on the ECB’s website.

Macroprudential policy and financial stability

Financial Stability Review – May…