Amendment
Article 1
Article 4 of Decision (EU) 2020/187 (ECB/2020/8) is replaced by the following: ‘Article 4 Eligible counterparties The following shall be eligible counterparties for the CBPP3, both for outright transactions and for securities lending transactions involving covered bonds held in the CBPP3 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, including non-euro area counterparties active in the covered bonds markets; and (c) issuers of covered bonds held in the CBPP3 Eurosystem portfolios to which neither point (a) nor point (b) applies, but only in the case of a repurchase of the relevant covered bond by that issuer pursuant to a buyback.’.