Amendments
Article 1
Decision (EU) 2016/948 (ECB/2016/16) is amended as follows: (1) Article 6 is replaced by the following: ‘Article 6 Eligible counterparties The following shall be eligible counterparties for the CSPP, both for outright transactions and for securities lending transactions involving corporate bonds held in the CSPP Eurosystem portfolios: (a) entities that fulfil the eligibility criteria to participate in Eurosystem monetary policy operations pursuant to Article 55 of Guideline (EU) 2015/510 (ECB/2014/60); (b) any other counterparties that are used by Eurosystem central banks for the investment of their euro-denominated investment portfolios; and (c) the issuers of corporate bonds held in the CSPP Eurosystem portfolios, but only in the case of either: (i) a repurchase of the relevant corporate bond by that issuer pursuant to a buyback, or (ii) the exercise by a Eurosystem central bank of a put option under the relevant corporate bond that is structured as a sale and repurchase transaction.’; (2) Article 7 is replaced by the following: ‘Article 7 Securities lending transactions The Eurosystem central banks purchasing corporate bonds under the CSPP shall make securities that meet the credit quality requirements for securities purchased under the CSPP available for lending, including repos, with a view to ensuring the effectiveness of the CSPP.’.