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When asked about a report from the Financial Times that the European Central Bank refused to act as a financial guarantor for €140 billion in reparations loans to Ukraine using frozen Russian assets, she said, “We are in touch with Member States and other entities, as well as financial institutions, especially the European Central Bank. We are discussing with them what options are possible, so that we can understand what can be done.”
Pinho added, "It is important to ensure there is enough money to cover any repayment obligations to the Central Bank of Russia. This is a key part of the reparations loan.”
The Financial Times, based on information from several officials, reported that the ECB “refused to act as a guarantor for the payment of €140 billion to Ukraine, which has weakened the EU's plans to secure a 'reparations loan' backed by frozen Russian assets.”
Previously, according to four sources, European Commission representatives approached the ECB to ask if it could serve as a last-resort lender for Euroclear, the financial institution where most of the Russian assets are stored.
source: ft.com
Pinho added, "It is important to ensure there is enough money to cover any repayment obligations to the Central Bank of Russia. This is a key part of the reparations loan.”
The Financial Times, based on information from several officials, reported that the ECB “refused to act as a guarantor for the payment of €140 billion to Ukraine, which has weakened the EU's plans to secure a 'reparations loan' backed by frozen Russian assets.”
Previously, according to four sources, European Commission representatives approached the ECB to ask if it could serve as a last-resort lender for Euroclear, the financial institution where most of the Russian assets are stored.
source: ft.com
