Olive Oil And Feta Cheese Not Accepted By ECB As Collateral, But...

Tyler Durden's picture




 

... everything else (give or take) is.

Why? Because a long, long time ago Europe ran out of encumbrable assets to pledge against fresh loans so it is forced to recycle existing collateral over, and over, and over, and over.

Source: Collateral eligibility requirements: a comparative study across specific frameworks

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