Decision (EU) 2020/1688 of the European Central Bank of 25 September 2020 amending Decision (EU) 2020/187 on the implementation of the third covered bonds purchase programme (ECB/2020/48)

Decision (EU) 2020/1688 · Decision · 2 articles

Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Amendment

Article 1

Decision (EU) 2020/187 (ECB/2020/8) is amended as follows: In Article 3, point (d) of paragraph 3 is replaced by the following: ‘(d) Covered bonds issued by credit institutions whose access to Eurosystem monetary policy operations has been limited, suspended or excluded pursuant to Guideline (EU) 2015/510 (ECB/2014/60) shall be automatically excluded from purchases under the CBPP3 for the duration of the limitation, suspension or exclusion. By derogation from the first sentence of this point (d), the Governing Council shall retain its power, following a case-by-case assessment, to reassess the exclusion of covered bonds issued by a credit institution whose access to Eurosystem monetary policy operations has been limited, suspended or excluded pursuant to Guideline (EU) 2015/510 (ECB/2014/60) and to revoke the exclusion, if deemed appropriate’.

Entry into force

Article 2

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union . It shall apply from 1 January 2021.

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Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.

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