Bank de France launches sec lending on GC Access
23 March 2016 Paris
Image: Shutterstock
France’s central bank has made high-quality collateral available for securities lending through Euroclear’s GC Access programme.
GC Access facilitates access to high-quality collateral where lender and borrowers can access baskets of top-grade assets against other collateral in order to earn incremental value and get meet regulatory liquidity requirements.
Banque de France’s securities, purchased under the Public Sector Purchase Programme, are eligible following the cash neutrality principle, at a spread over prevailing rates of between 10 to 25 basis points.
The accepted loan maturity is either one week or one month. One week operations will not be renewed more than three times and the value date will be T+1 or T+2.
The list of PSPP securities available for lending is published every Monday on the bank’s page on Bloomberg and BDFPSPP1 on Reuters.
Additionally, Banque de France will continue its fail prevention scheme through bilateral repo operations at T+0, provided market participants’ requests are submitted before noon
GC Access facilitates access to high-quality collateral where lender and borrowers can access baskets of top-grade assets against other collateral in order to earn incremental value and get meet regulatory liquidity requirements.
Banque de France’s securities, purchased under the Public Sector Purchase Programme, are eligible following the cash neutrality principle, at a spread over prevailing rates of between 10 to 25 basis points.
The accepted loan maturity is either one week or one month. One week operations will not be renewed more than three times and the value date will be T+1 or T+2.
The list of PSPP securities available for lending is published every Monday on the bank’s page on Bloomberg and BDFPSPP1 on Reuters.
Additionally, Banque de France will continue its fail prevention scheme through bilateral repo operations at T+0, provided market participants’ requests are submitted before noon
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