# 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), Article 5: Admission of collateral with a ‘BBB-’ credit assessment and above as eligible collateral

Extent: E+W+S+N.I.

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.
2. An additional haircut of 5 % shall be imposed by the Eurosystem on all eligible assets with a credit assessment below ‘A-’.

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Source: https://www.legislation.gov.uk/eur/2008/1053/article/5 (the official version)
Page: https://openlegislation.uk/eu-regulation-2008-1053/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.