Guideline of the European Central Bank

of 10 December 2009

amending Guideline ECB/2008/18 on temporary changes to the rules relating to eligibility of collateral

(ECB/2009/24)

(2009/963/EU)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union and in particular to the first indent of Article 127(2) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank and in particular Article 12.1 and Article 14.3, in conjunction with the first indent of Article 3.1, Article 18.2 and the first paragraph of Article 20 thereof,

Whereas:

(1) The Governing Council of the European Central Bank (ECB) has decided to prolong the widening of certain eligibility criteria for collateral laid down in Guideline ECB/2008/18 of 21 November 2008 on temporary changes to the rules relating to eligibility of collateral [1].

(2) It is therefore necessary to amend Guideline ECB/2008/18 accordingly,

HAS ADOPTED THIS GUIDELINE:

Article 1

Guideline ECB/2008/18 is amended as follows:

Article 10(2) is replaced by the following:

"This Guideline shall apply from 1 December 2008 until 31 December 2010 or until the maturity date of the last 12-month refinancing operation launched by 31 December 2010, whichever is the latest."

Article 2

Entry into force

1. This Guideline shall enter into force two days following its publication in the Official Journal of the European Union.

2. It shall apply from 1 January 2010.

Article 3

Addressees and implementing measures

1. This Guideline is addressed to the national central banks (NCBs) of participating Member States.

2. The NCBs shall notify the ECB of the means by which they intend to comply with this Guideline.

Done at Frankfurt am Main, 10 December 2009.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude Trichet

[1] OJ L 314, 25.11.2008, p. 14.

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