Counterparties & Eligible Assets

Frequently Asked Questions

Q How do I become a Counterparty to the Central Bank of Ireland?
A Credit institutions must fulfil certain eligibility criteria laid down by the Eurosystem. In addition, they must agree with the terms and conditions of the Bank's General Documentation (including the Master Repurchase Agreement). Click here for more information.
 
Q I have an asset that is listed on the Irish Stock Exchange, which National Central Bank should I contact in relation to proposing this asset for inclusion on the ECB’s Eligible Assets Database? 
A The National Central Bank of the country in which the asset is listed, places eligible assets on the ECB’s Eligible Assets Database.  Therefore, all queries relating to assets listed on the Irish Stock Exchange should be addressed in writing to the Eligible Assets Unit.  
 
Q What information should I enclose when I am enquiring about proposing a particular asset for inclusion on the ECB’s Eligible Assets Database?
A

The bank needs the following in order to determine the eligibility of the proposed security:



  • A short written assessment of how the security meets the ECB criteria for eligible assets (see chapter 6, p. 34 to 37 of the Eurosystem’s General Documentation:  http://www.ecb.int/udl.html?doc_id=gendoc_en).
  • Letters of rating from the rating agencies.
  • Rating agencies pre-sale or new-issue reports (not the rating agencies web pages).
  • For transactions issued for more than 3 months, a copy of the most recent rating agency surveillance report.
  • Final Offering Circular / Final Information Memorandum for the transaction / Final Pricing Supplement, where applicable.
  • Legal opinion(s) verifying that there is a true sale of the cashflow generating assets under EU law.
  • Confirmation of listing on the Irish Stock Exchange.
  • ISIN codes of the security, Reuters/Bloomberg page codes.
 
Q How long does the assessment process take?
A The length of the eligibility assessment can vary due to the complexity of the certain transactions.  However, to speed up the assessment process, all of the documentation outlined above should be forwarded to eligibleassets@centralbank.ie as early as possible.