ECB will amend eligibility criteria and risk control measures applicable to senior unsecured debt instruments issued by credit institutions or investment firms within its collateral framework, with effect from 1 January 2017
Changes ensure eligibility of senior unsecured debt instruments of such issuers subject to statutory subordination
Revisions are in response to the implementation of the EU Bank Recovery and Resolution Directive in EU Member States
Framework to be revisited during the course of 2017, and final collateral eligibility criteria to also depend on further progress towards a common EU approach to the bank creditor hierarchy
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ECB Press Releases
Changes to collateral eligibility criteria and risk control measures for unsecured bank bonds