Bank of Greece Updates Collateral Process

10:27 16/6/2025 - Πηγή: Dikaiologitika

The Bank of Greece has issued two key decisions that change how Greek banks provide collateral to access liquidity from the central bank, bringing national procedures in line with eurozone standards.

These updates help align Greece’s banking system more closely with the rest of

the eurozone and improve the clarity and efficiency of its monetary operations.

The first decision, Act 131, introduces a common system for managing collateral across the euro area. Greek banks must now use the Eurosystem Collateral Management System (ECMS), a shared digital platform used by all eurozone banks. This system records the assets banks offer as collateral and ensures that all data is handled in a uniform way. The goal is to make collateral procedures more efficient and consistent across the monetary union.

When a Greek bank requests liquidity from the Bank of Greece, it must offer assets such as government bonds or customer loans as collateral. These are entered into the ECMS, which calculates their value and the amount the bank can receive, after deducting a margin to cover risk.

The second decision, Act 132, updates earlier rules on how the Bank of Greece applies monetary policy and provides liquidity. It sets clearer terms for how funding is given and how transactions are settled between the central bank and commercial banks. For example, emergency funding through the marginal lending facility will now last one day and must be repaid the next business day, as long as the TARGET payment system is working.

The new rules also define how banks can replace one type of collateral with another. Such changes must follow specific steps and be recorded in the ECMS.

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Bank,Greece Updates Collateral Process