ECB to Implement Enhanced Repo Facility for Non-Euro Area Central Banks

The European Central Bank (ECB) announced it has begun the onboarding process for non-euro area central banks to its enhanced repo facility (EUREP), with drawings expected to be possible from Q4 2026. This facility aims to support the smooth transmission of monetary policy and reinforce the international role of the euro. It will be operated by five national central banks under ECB coordination, offering euro liquidity in the form of loans against high-quality euro-denominated collateral. The maximum line size per individual central bank is EUR 50 billion.