ECB sets new guideline on implementation of monetary policy

The European Central Bank (ECB) has published a new guideline, amending the general documentation on the implementation of the eurosystem's monetary policy, the bank said on Monday.

Counterparty eligibility assessment will take into account information on capital, leverage and liquidity ratios, ECB said in a press release.

The Bank also decided to add new category of assets, namely the "non marketable debt instruments backed by eligible credit claims (DECCs)", as eligible collateral.

The move was reported to aim at expanding pool of collateral available to eurozone banks and stimulating lending.

ECB also noted that, in the initial stage, only domestic use of DECCs is envisaged. Endit