The Bank of Finland has updated its rules on monetary policy operations and collateral. The rules now include the ECB’s amendments to the Guideline on the implementation of the Eurosystem monetary policy framework (General Documentation Guideline) (ECB/2022/17), the Guideline on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2022/18) and the Guideline on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2022/19).
In addition, the possibility to accept as collateral such loans granted by banks to corporates which benefit from a government or public sector guarantee as a response to COVID-19 has been removed from the Bank of Finland’s framework for Additional Credit Claims (ACC)1.
The changes will enter into force on 8 July 2022.
1 Implementation of monetary policy operations and collateral management at the Bank of Finland, 8 July 2022