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On 29 September the European Central Bank (ECB) will enable the use of triparty services for cross-border collateral pledges to national central banks. This will help to overcome collateral fragmentation and improve risk management and operational processing. The ECB changes will improve access to Eurosystem liquidity by enabling the allocation of ECB-eligible collateral issued or held in third countries to national central banks on a cross-border basis.
Triparty agents like Clearstream will then be in a position to offer all Eurosystem participants triparty collateral pledge services that were so far only in use for domestic transactions. The cross-border triparty collateral management services will be introduced under the Correspondent Central Banking Model (CCBM)...
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