8.

Debt securities issued by institutions which securities do not have a credit assessment by an eligible ECAI may be recognised as eligible collateral if they fulfil the following criteria: they are listed on a recognised exchange; they qualify as senior debt; all other rated issues by the issuing institution of the same seniority have a credit assessment by an eligible ECAI which has been determined by the competent authorities to be associated with credit quality step 3 or above under the rules for the risk weighting of exposures to institutions or short term exposures under Articles 78 to 83; the lending credit institution has no information to suggest that the issue would justify a credit assessment below that indicated in (c); and the credit institution can demonstrate to the competent authorities that the market liquidity of the instrument is sufficient for these purposes.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.