​Update 25 January 2016

The Bank of Finland has updated its rules on monetary policy operations and collateral to include the new General Documentation Guideline (ECB/2015/34) and the Guideline on the valuation haircuts applied in monetary policy implementation (ECB/2015/35). Specific provisions relating to valuation haircuts were previously included in the General Documentation Guideline but will henceforth be published as a separate Guideline. An amendment of note is the change of the provisions on additional haircuts applied to covered bonds that are own-used. As a rule, the additional haircuts will be applied only to the collateral used by a Eurosystem counterparty who is the issuer or has a close link with the issuer.