The Eligibility of Sustainability-Linked Bonds for Eurosystem Asset Purchase and Collateral Programmes

Sustainability-Linked Bonds with coupon step-up/step-down or floating structures linked to Sustainability Performance Targets (‘SPTs’) are accepted as collateral for the Eurosystem Purchase Programmes within Monetary Policy Operations per Amended article 63, guideline ECB/2014/60. SPTs are defined as a target set by an issuer in a publicly available issuance document, measuring quantified improvements in the issuer’s sustainability profile over a predefined period of time with reference to one or more environmental objectives per New article 2(88a), guideline ECB/2014/60.

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