Racehorses in Running as Regulators Debate Loose Liquidity Rules

Racehorses in Running as Regulators Debate Loose Liquidity Rules

Ralph Orlowski/Bloomberg

Racehorses may be an extreme example of how low the bar can go, but the ECB has in the past accepted low-rated Greek and Portuguese sovereign bonds, as well as securities backed by car loans, as collateral for funding in times of crisis.