ECB Introduces Measures to Boost Euro Appeal, Plans to Offer Repo Facility to National Central Banks
The European Central Bank is prepared to provide euro liquidity to monetary authorities around the world, aiming both to prevent market stress and to increase the international use of its currency.
The Frankfurt-based European Central Bank said in a statement on Saturday that the repo facility will be extended to “all central banks, unless excluded for specific reasons, particularly those involving money laundering, terrorist financing, or international sanctions.” The new rules will take effect from the third quarter.
“This framework will enable central banks outside the euro area to quickly respond to the risk of euro liquidity shortages,” the statement said. “These adjustments are intended to make the facility more flexible, broaden its geographical coverage, and increase its relevance to global holders of euro-denominated securities.”
Editor: Ding Wenwu
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