ECB in about-turn on collateral rules
The European Central Bank (ECB) will keep its collateral rules for sovereign debt relaxed beyond the end of this year after earlier saying it would tighten requirements in December 2010.
Jean-Claude Trichet, the president of the ECB, on Thursday told the European Parliament that the ECB's Governing Council intended to keep the minimum credit threshold in the collateral framework at BBB- beyond the end of the year. Trichet also said the central bank would, in parallel, introduce as of January
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