FRANKFURT, Feb 12 (Reuters) - The European Central Bank is preparing to broaden access to its euro backstop facility, hoping to reduce the risk of any disruption in euro funding markets outside the
ECB to broaden access to euro backstop, board member
ECB's Strategy for Euro Backstop Expansion
FRANKFURT, Feb 12 (Reuters) - The European Central Bank is preparing to broaden access to its euro backstop facility, hoping to reduce the risk of any disruption in euro funding markets outside the bloc, ECB board member Piero Cipollone said on Thursday.
Impact on Euro Funding Markets
Such repo lines, now only available to just a handful of central banks outside the euro zone, should ease uncertainty about accessing euros even in times of financial stress and boost the bloc's monetary sovereignty, Cipollone said in a speech.
Upcoming Announcement at Munich Security Conference
Sources earlier told Reuters that an announcement on the revamped repo lines was likely this weekend, when ECB President Christine Lagarde speaks at the Munich Security Conference.
(Reporting by Balazs Koranyi; Editing by Alex Richardson)
