{
  "url": "https://openlegislation.uk/eu-regulation-2008-1053/article-5",
  "json_url": "https://openlegislation.uk/eu-regulation-2008-1053/article-5.json",
  "legislation": "eur/2008/1053",
  "legislation_title": "Regulation (EC) No 1053/2008 of the European Central Bank of 23 October 2008 on temporary changes to the rules relating to eligibility of collateral (ECB/2008/11)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2008-1053",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Admission of collateral with a ‘BBB-’ credit assessment and above as eligible collateral",
  "text": "1. The Eurosystem’s minimum requirement for the assessment of the credit standard of assets eligible as collateral for the purposes of Eurosystem monetary policy operations shall be a ‘BBB-’ equivalent credit assessment. This change to the credit assessment requirement shall apply to both marketable and non-marketable assets, with the exception of asset-backed securities as described in Section 6.3 of the General Documentation, for which the requirement for high credit standards shall remain unchanged.\n2. An additional haircut of 5 % shall be imposed by the Eurosystem on all eligible assets with a credit assessment below ‘A-’.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2008/1053/article/5",
    "retrieved_at": "2026-11-01T14:51:55.344236+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}