ECB Issues Standards for the Use of Central Counterparties in Eurosystem Foreign Reserve Management Operations
November 18, 2011
In preparation for the increasing use of central counterparties as a result of upcoming legislative amendments, the European Central Bank ("ECB") has issued guidelines for the use of central counterparties ("CCPs") in Eurosystem foreign reserve management operations.
The ECB confirms that the Eurosystem will only use properly supervised and overseen CCPs, and that its standards will be additional to existing standards for CCPs in order to limit risk to the Eurosystem.