Decision (EU) 2025/1240 of the European Central Bank of 11 June 2025 amending Decision (EU) 2020/187 on the implementation of the third covered bond purchase programme (ECB/2020/8) (ECB/2025/20)

The following shall be eligible counterparties for the CBPP3, both for outright transactions and for securities lending transactions involving covered bonds held in the CBPP3 Eurosystem portfolios: (a) entities that fulfil the eligibility criteria to participate in Eurosystem monetary policy operations pursuant to Article 55 of Guideline (EU) 2015/510 (ECB/2014/60); (b) any other counterparties that are used by Eurosystem central banks for the investment of their euro-denominated investment portfolios, including non-euro area counterparties active in the covered bonds markets; and (c) issuers of covered bonds held in the CBPP3 Eurosystem portfolios to which neither point (a) nor point (b) applies, but only in the case of a repurchase of the relevant covered bond by that issuer pursuant to a buyback.’.

This Decision shall enter into force on the fifth day following that of its publication in the Official Journal of the European Union.