Counterparties
The counterparties of Eurosystem monetary policy operations must fulfill certain general eligibility criteria as specified in the ECB’s General Documentation. The BCL establishes and maintains, in accordance with Eurosystem rules, a non-public list of institutions fulfilling these general eligibility criteria.
The list includes financial institutions governed by EU or international law, as well as other account holders jointly fulfilling the following criteria. They are:
- established in the Grand Duchy of Luxembourg and they appear on the official list of credit institutions held by the responsible supervisory authority,
- subject to the harmonised prudential control at the level of the European Union or the European Economic Area and justified by adequate financial soundness,
- subject to the minimum reserve requirement, based on article 19 section 1 of the Statute relating to the European system of central banks and the ECB,
- furthermore counterparties need to satisfy financial soundness criteria as well as operational criteria determined periodically by the BCL.
For further information, please refer to chapter 5 of the BCL General Terms and Conditions.
