Press Release

The ECB rates the link between Iberclear and the Portuguese depositary, Interbolsa, as "eligible"

13 February, 2020
  • Participating entities of the BME subsidiary and its clients can use Portuguese eligible securities in monetary policy operations

The European Central Bank (ECB) has rated the link between Iberclear, the Spanish central securities depository and a BME subsidiary, and the Portuguese central securities depository, Interbolsa, as “eligible”, including it in the “List of eligible Links ".

The link between Iberclear and Interbolsa has been operational since 25th March 2019. Through this link, Iberclear acts as an investor central securities depositary and hence the participating entities and their clients may use the Portuguese eligible securities included therein for monetary policy operations.

In this way, the scope of securities that the participating entities of Iberclear can use as collateral in monetary policy operations is extended to Portuguese eligible securities, in favour of Banco de España, the European Central Bank or other EU’s National Central Banks.

In addition to Portugal, also available through Iberclear's cross-border settlement and custody service, called Cross-Border Services (CBS), are the markets in Germany, France, Italy, the Netherlands and Austria. Thanks to this service, Spanish financial institutions can register and settle international securities in these markets through Iberclear as a single point of access to the Target2-Securities (T2S) platform, thus helping to reduce costs and processes by simplifying the custody chain.

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