ECB to integrate non-financial credit claim portfolios into general collateral f

The Governing Council of the European Central Bank (ECB) has decided today on the eligibility criteria and risk control framework to permanently integrate portfolios of non-financial corporate (NFC) credit claims into its general collateral framework. This follows the Governing Council’s initial announcement in November 2024 to phase out temporary collateral measures that allowed banks to post a broader range of NFC credit claims as collateral and marks the final step in phasing out the temporary additional credit claim (ACC) framework.

Portfolios of NFC credit claims are composed of the loans that banks grant to non-financial firms in the real economy. Instead of being used individually as collateral, these loans are grouped together by counterparties and presented as a package to obtain liquidity from the Eurosystem.

The eligibility criteria, mobilisation and handling practices for the credit claims constituting portfolios of NFC credit claims will be mostly harmonised with the existing criteria for individual credit claims, except for the acceptance of a broader range of credit quality steps. This means that certain loans with a credit quality below the requirement for individ

Fuente original: Banco Central Europeo (https://www.ecb.europa.eu//press/pr/date/2026/html/ecb.pr260625~edee181785.en.html)