ECB unwinds liquidity support for banks

Article reports that the European Central Bank showed unexpected impatience on the 20 November 2009 to unwind emergency steps taken to combat the economic crisis, announcing plans to tighten the terms on which it lends liquidity to eurozone banks.

The ECB Governing Council decided to amend the rating requirements for asset-backed securities (ABSs) to be eligible for use in Eurosystem credit operations.

ECB: Press Release, 20.11.09: ECB amends rating requirements for asset-backed securities in Eurosystem credit operations http://www.ecb.int/press/pr/date/2009/html/pr091120.en.html

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