Assessment of a new direct link between securities settlement systems in the euro area

The Governing Council of the ECB today approved the direct link between the Greek securities settlement system (SSS) BOGS (“investor” SSS) and Clearstream Banking AG – CASCADE (“issuer” SSS) as eligible to be used for the collateralisation of Eurosystem credit operations.

The Eurosystem has conducted an assessment of this direct link established among the respective eligible SSSs against the nine “Standards for the use of EU securities settlement systems in ESCB credit operations”.

A table listing all eligible direct and relayed links, including the newly approved one given above, can be found on the ECB’s website. This updated list replaces the list published on 1 December 2011.