Updates 20 August 2014
The Bank of Finland’s rules for counterparties and customers are updated in accordance with the Guideline ECB/2014/31. The changes will become effective on 20 August 2014. In addition, two sections are updated on the basis of previous ECB decisions.
3 Collateral
Bank of Finland rules on collateral management
Section 3.2.1.2: The end date for the eligibility of asset-backed securities that fulfil specific eligibility criteria only partially was added in a footnote (ECB/2013/36).
Definitions related to asset-backed securities were updated in respect of the Regulation on the basis of which default is defined.
The paragraph ‛Excise of discretion in respect of certain government-guaranteed bank bonds on the public list of collateral’ was updated with countries that are compliant with an EU/IMF programme.
Section 3.2.1.3: Certain debt instruments issued by non-financial corporations were added in the paragraph concerning admission of additional credit claims. The Bank of Finland does not accept assets of this type as collateral.
Section 3.2.1.4: The paragraph ‛Derogations from close links provisions’ was supplemented with a date when banks’ own issuances of government-guaranteed instru-ments may no longer be submitted as collateral.
Section 3.2.3.2: Specific haircuts applying to marketable debt instruments issued or fully guaranteed by the Republic of Cyprus were added as Table 3.