European Central Bank Updates Monetary Policy Collateral and Haircut Framework Guidelines
The ECB is implementing changes to its collateral framework and haircut schedules for monetary policy operations starting 30 November 2026.
By Orion Desk
The European Central Bank has released updated guidelines for its monetary policy implementation, effective 30 November 2026. Key changes include using the second-best external credit rating for private sector assets and refining the haircut schedule for assets used as collateral. Furthermore, financial subsidiaries of non-financial corporations will be reclassified to match their parent companies in haircut category III.
These regulatory adjustments aim to improve risk management and maintain consistency across the Eurosystem collateral framework. Traders monitoring the euro should note that these technical changes are part of a regular review process and are scheduled to take effect late in the fourth quarter.
Originally published by European Central Bank
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