Are the existing procedures for disseminating information on the eligible assets considered satisfactory ?

The current procedures for assessing potentially eligible assets are not regarded as transparent and are not easily understood by third parties .

Debt instruments listed , quoted or traded on non regulated markets , which have been assessed as not being acceptable , will continue to remain eligible until May 2007 .

Debt instruments listed , quoted or traded on nonregulated markets , which have been assessed as not being acceptable , will continue to remain eligible until May 2007 .

The ECB and the central banks are both considered as professional clients and recognised as eligible counterparties , so the ECB understands that they would normally continue to be considered qualified investors .

The foreign counterparty is informed of the number of claims considered eligible by the Banque de France after a specific haircut has been applied .

ECB The implementation of monetary policy in the euro area September 2006

For this purpose , a legal assessment in a form and with substance acceptable to the Eurosystem will have to be submitted before the assets can be considered eligible .

The total amount of collateral deposited by counterparties in pooling systems was around Euros 650 billion ( end 2003 ) , compared with approximately Euros 600 billion at the end of 2002 .

ECB The implementation of monetary policy in the euro area November 2008 CHAPTER 6 to be submitted before the assets can be considered eligible .

Until recently , in some Member States , public debt instruments such as Treasury bills were considered eligible assets for meeting reserve requirements .

Financial penalties for cases of non compliance with the rules for the use of assets which are considered eligible only for intraday credit purposes are only foreseen within the TARGET legal framework .

For this purpose , a legal opinion in a form and with substance acceptable to the Eurosystem will have to be submitted before the assets can be considered eligible .

will continue to take the form of repurchase operations against ECB eligible collateral and to be carried out as fixed rate tenders with full allotment .

10 OJ L 145 of 30 April 2004 , page 1 .

5 Financial penalties for cases of non compliance with the rules for the use of assets which are considered eligible only for intraday credit purposes are only foreseen within the TARGET legal framework .

( 5 ) Financial penalties for cases of non compliance with the rules for the use of assets which are considered eligible only for intraday credit purposes are only foreseen within the TARGET legal framework .

Eligible costs

ELIGIBLE COUNTRIES

Ineligible for fundim

Participants

Eligible Expenses

Eligible expenses

Eligible applicants

Eligible counterparties

Box 8

ELIGIBLE ASSETS

Eligible Counterparties

Eligible assets

6.3.1 SCOPE AND ELEMENTS The Eurosystem credit assessment framework ( ECAF ) defines the procedures , rules and techniques which ensure that the Eurosystem requirement of high credit standards for all eligible assets is met .

to the zero to one year maturity bucket of fixed coupon instruments in the liquidity category to which the instrument is assigned .

As to hybrid capital instruments , CEBS proposed conditions that any hybrid instrument should meet in order to be considered to be eligible Tier 1 capital in the EU .

These operations will take the form of repurchase operations against ECB eligible collateral and will be carried out as fixed rate tenders with full allotment .

These operations will continue to take the form of repurchase operations against ECB eligible collateral and to be carried out as fixed rate tenders with full allotment .

5.3 Eligible Participants

5.7.4 Eligible expenditure

6.4 Eligible applicants

Ineligible expenses

Eligible entities 1 .

B Eligible entities

Schuldscheindarlehen and Dutch registered private claims on the government or other eligible debtors that are covered by a government guarantee ( e.g. housing associations ) are deemed to be equivalent to credit claims .

Stock flow adjustments are disregarded .

Many factors must be considered.

In the latter case , the debt instruments can only be considered eligible if the Eurosystem ascertains that its rights would be protected in an appropriate manner , as determined by the Eurosystem , under the laws of the respective non EEA G10 country .

These Eurosystem operations will continue to take the form of seven day repurchase operations against ECB eligible collateral and to be carried out as fixed rate tenders with full allotment .