Eurosystem

Rule Changes

Operates Pontes, TIPS, and the collateral framework

The European Central Bank is rebuilding how the euro area's money moves. In late September 2026, its Governing Council tightened collateral rules for central bank loans, switched on Pontes (a system that settles tokenised assets in central bank money), and extended the digital euro pilot to merchants. On 29 October, ECB President Christine Lagarde said she will step down on 7 February 2027.

Updated Oct 30