The European Central Bank announced that the Eurosystem will accept marketable assets issued in central securities depositories using distributed ledger technology based services as eligible collateral for Eurosystem credit operations as of 30 March 2026. The assets will be treated like other marketable assets and must meet existing Eurosystem collateral eligibility criteria and collateral management requirements. Eligibility includes being available for settlement in eligible securities settlement systems that comply with the Central Securities Depositories Regulation and are reachable via TARGET2-Securities. Mobilisation will follow the Eurosystem’s existing collateral management practices. The Eurosystem also launched a work plan to assess whether, how and under what criteria assets issued using DLT and not represented in eligible securities settlement systems could become eligible and be mobilised as collateral in the future, using a staggered approach and taking into account market developments and relevant legal and regulatory changes including the CSD Regulation, the DLT Pilot Regime Regulation, the Markets in Crypto-Assets Regulation and euro area securities laws.
European Central Bank 2026-01-27
European Central Bank to accept CSD-issued DLT marketable assets as eligible collateral from 30 March 2026
From 30 March 2026, the European Central Bank will accept marketable assets issued in central securities depositories using distributed ledger technology (DLT) as eligible collateral for credit operations, provided they meet existing criteria and management requirements. Additionally, the Eurosystem initiated a work plan to explore future eligibility of DLT-issued assets not represented in eligible systems, considering market and regulatory developments.