On February 9, 2012, the Governing Council of the ECB endorsed the temporary expansion of the country-specific eligibility criteria applicable to nonmarketable assets (credit claims).
To enable Austrian banks to optimize their liquidity management, the OeNB has decided to lower the minimum credit score for credit claims to a one-year default probability of 1% on the part of the debtor. The related risk of the OeNB will be overcompensated by strongly raised haircuts.
As soon as the OeNB has taken the technical measures necessary for implementing this amendment, further details will be notified to counterparties participating in open market operations with the OeNB.