Economics
ECB to Start Phasing Out Collateral-Easing Measures in July
- Measures to be removed in three steps through March 2024
- Greek bonds’ eligibility to be kept at least through 2024
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The European Central Bank will begin phasing out collateral-easing measures linked to the pandemic starting in July this year, while continuing to accept Greek bonds until the reinvestment period of its coronavirus bond-buying program ends.
Measures introduced in April 2020 to facilitate collateral availability -- especially amid risks related to credit downgrades caused by the Covid-19 crisis -- will be gradually removed in a three-step process between July 2022 and March 2024, the ECB said Thursday in a statement.