The ECB extends the deadline for using the EUREP line
29/12/2020
The Governing Council of the European Central Bank decided to extend the Central Bank of Montenegro’s deadline to use the EUREP (Eurosystem repo facility for central banks) line until March 2022, instead of June 2021, as initially agreed.
We remind you that EUREP is a new ECB financial instrument established this June. It allows Montenegro, if necessary, to apply for systemic liquidity support funds of up to 250 million euros.
The extended ECB deadline is additional security for maintaining the stability of the country’s financial system’s stability. It is also a confirmation of quality cooperation between the EU’s supreme monetary institution and the national banks of countries that are not part of the Eurosystem.