On 29 September 2026, the European Central Bank (ECB) published two guidelines revising its collateral framework and valuation haircuts: ECB/2026/26 amends the General Documentation Guideline (EU) 2015/510, and ECB/2026/27 amends the Haircut Guideline (EU) 2016/65. Both were adopted by the Governing Council on 22 September 2026. The national central banks must apply them from 30
Archives for September 2026
Private Credit for the Real Economy – Taking Opportunities Seriously, Managing Risks
In today’s “Autumn 2026 risk update”, the ESAs classify private credit as one of the central vulnerabilities of the EU financial system: the sector is growing rapidly, is opaque and is becoming increasingly intertwined with the rest of the financial system. They point to inaccurate credit valuations, high credit risk, unresolved leverage and data gaps.
ECB Blog: “Can synthetic securitisation support economic growth
Last week, Johanne Evrard, Wagner Eduardo Schuster, Fabian Wassmann, and Michael Wedow published a post in the ECB Blog titled “Can synthetic securitisation support economic growth?” The authors examine whether synthetic securitisation can promote additional lending and how banks utilise the regulatory capital released as a result. Importantly, the article explicitly reflects the authors’ views


