FRANKFURT, Dec 20 (Reuters) - The European Central Bank said on Tuesday it was tightening its collateral rules again after some pandemic-related easing but it saw no need to make specific changes due to climate-related risk.
"The present review did not find empirical evidence that necessitates amendments to the haircut schedule based on climate change considerations, as the updated haircut schedule is already sufficiently protective against climate-related financial risks," the ECB said in a statement.
The new rules, based on the ECB's own pre-pandemic standards, will become effective on June 29, 2023. (Reporting by Francesco Canepa; Editing by Alison Williams)
