Introductory text

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular the first indent of Article 127(2) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular to the second subparagraph of Article 12.1 in conjunction with the first indent of Article 3.1, and Article 18.1 thereof,

Whereas:

On 4 September 2014, the Governing Council decided that a new asset-backed securities purchase programme (ABSPP) should be initiated. On 2 October 2014, the Governing Council announced the details of the ABSPP and decided that the eligibility criteria for guaranteed mezzanine tranches of asset-backed securities (ABS) would be communicated at a later stage.

On 18 March 2015, the Governing Council decided that mezzanine tranches of ABS would be considered for purchase under the ABSPP if such mezzanine tranches are secured by an appropriate guarantee that complies with the Eurosystem collateral framework criteria. Decision ECB/2014/45^f1 concerns the implementation of the ABSPP and it is necessary for this Decision to be updated to reflect these changes.

Therefore, Decision ECB/2014/45 should be amended accordingly,

HAS ADOPTED THIS DECISION: