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Today the Council of Latvijas Banka approved amendments to the "Procedure for Participation in the Eurosystem Monetary Policy Operations Organised by Latvijas Banka" of 12 December 2013 (to take effect on 1 May 2015).

Amendments have been made in accordance with Guidelines ECB/2014/60 and ECB/2015/20 of the European Central Bank (ECB) and the ECB Governing Council decisions relating to Eurosystem monetary policy operations.

The amendments:

- specify the eligibility criteria for securities issued by international organisations and multilateral development banks, covered bonds, asset-backed securities (ABS) and other marketable assets, credit claims and guarantees as collateral for Eurosystem monetary policy operations;
- specify the eligibility of marketable assets with floating coupons with potentially negative cash flow as collateral for Eurosystem monetary policy operations;
- stipulate that the Eurosystem will no longer use government-guaranteed unsecured debt instruments issued by a counterparty of Eurosystem monetary policy operations or an entity having close links with the counterparty;
- stipulate that the Eurosystem will no longer apply derogation with respect to the use of securities issued and/or guaranteed by the Greek government as collateral for Eurosystem monetary policy operations;
- revise the definitions and update references to the legislative acts of the European Union;
- introduce changes in the structure of the regulation and revise wording where necessary.