Eligible Securities
The Bank of England takes securities as collateral against its lending as part of its Open Market Operations (OMOs), in the standing lending facility and for intra-day liquidity in RTGS.
For full details on procedures for delivering eligible collateral for OMOs and RTGS, please see the Documentation. The securities that are eligible for the Bank’s RTGS intra-day repurchase operations are now aligned with that for the Bank’s Open Market Operations.
The following securities are eligible for use by the Bank's counterparties in OMOs, the standing lending facility, CHAPS-Sterling and CHAPS-euro.
- Gilts (including gilt strips)
- Sterling Treasury bills
- Bank of England securities
- HM Government non-sterling marketable debt
- Sterling-denominated securities issued by European Economic Area (EEA) central governments and major international institutions.
- Euro-denominated securities (including strips) issued by EEA central governments and central banks and major international institutions where they are eligible for use in Eurosystem credit operations.
- All domestic currency bonds issued by other sovereigns eligible for sale to the Bank.
The above sovereign and supranational securities are subject to the requirement that they are issued by an issuer rated Aa3 (on Moody's scale) or higher by two or more of the ratings agencies (Moody's, Standard and Poor's, and Fitch).
The list of eligible securities can be downloaded using the link below:
Questions on the lists of securities eligible for OMOs can be sent to:
The Eligible Securities Manager
Sterling Markets
Division
Bank of England
Fax: +44 (0)20 7601 5810
E-mail:
eligible.securities@bankofengland.co.uk
Questions on the securities eligible for RTGS can be made to:
Liquidity Services
Bank of England
Tel: +44 (0) 20 7601 5413 or +44 (0) 20 7601 5168
European Central Bank Tier One Asset List
Banque centrale du Luxembourg (BCL) is responsible for reporting to the ECB for inclusion in the Single List all those international securities (eurobonds) listed on the London Stock Exchange that meet the ECB's eligibility criteria and that are issued directly into Euroclear Bank, Brussels or Clearstream Banking, Luxembourg.
The ECB's eligibility criteria can be found in Chapter 6 of its publication "The Implementation of Monetary Policy in the Euro Area - General Documentation on Eurosystem Monetary Policy Instruments and Procedures" (September 2006). This document is available at the website of the ECB www.ecb.int.
If market participants are aware of the existence of a security listed on the London Stock Exchange that they consider meets the ECB's eligibility criteria, they should ensure that it has been reported to BCL.
Questions on ECB eligible assets listed on the London Stock Exchange can be sent to:
BCL - Collateral Management
Banking Operations Department
2, Boulevard Royal
L-2983 Luxembourg
Fax: +352 4774 4451
Tel: +352 4774 4454
E-mail: bo@bcl.lu
The ECB can be contacted by e-mail at:
eligible-assets.hotline@ecb.int
Key Resources
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Summary of eligible collateral for the Bank's operations |
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Template for eligibility checking submission |
