ECB Extends Euro Liquidity Backstop to Central Banks Worldwide

14 February 2026

By Marta Vilar – MADRID (Econostream) – The European Central Bank has expanded access to its repo facility, granting standing eligibility in principle to central banks globally, according to a press release.

“The updated framework introduces standing access, in principle, for all central banks, unless excluded on the grounds of, in particular, money laundering, terrorist financing or international sanctions,” the document said. “The framework will enable central banks in jurisdictions outside the euro area to address risks of euro liquidity shortages swiftly.”

The ECB said the changes are intended to make the facility more flexible, geographically broader and more relevant.

The central bank cited heightened geopolitical uncertainty and shifts in the global financial system as factors that could disrupt the transmission of monetary policy, adding that liquidity arrangements such as EUREP are designed to mitigate these risks by supporting euro funding markets abroad and limiting spillovers to the euro area’s financial system.