Financial Repression Tracker

Rules that steer savings into government debt or hold returns below inflation, country by country.

Steer · Prudential sovereign bias

Collateral eligibility waivers and favourable haircuts for government bonds

What it is
Central banks accept government bonds as collateral on privileged terms: waiving rating floors, valuing at par or applying low haircuts.
Why it counts
Keeps sovereign paper financeable at the central bank, sustaining bank demand for it even when market risk rises.

When it was in force

  • Greece: 2010, historical; its end is not documented

Example

  1. Greece

    2010Historical

    Its end is not documented · As cited: from 3 May 2010

    The ECB suspended its minimum credit rating threshold for Greek government debt used as collateral.

    ECB Governing Council decision, press release of 3 May 2010Primary source
    “has decided to suspend the application of the minimum credit rating threshold in the collateral eligibility requirements for the purposes of the Eurosystem's credit operations in the case of marketable debt instruments issued or guaranteed by the Greek government.”

    ecb.europa.eu (opens in a new tab)Checked: quote matched on the page by script

    Greece today: index 44.0

Examples and their dates reviewed .

Further reading