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The euro area's lender to member governments in severe financial distress, funded by selling bonds and bills to investors, whose €1bn bond issued on a shared ledger settled in central bank money through the Eurosystem's Pontes service on 2 November 2026.
An intergovernmental organisation set up by the euro area's member states in 2012 to lend to member countries in severe financial distress, succeeding the European Financial Stability Facility, a temporary body created in 2010. Together the two lent €295bn to Ireland, Portugal, Greece, Spain and Cyprus during the euro debt crisis. It raises its money by selling bonds and bills to investors. On 2 November 2026 a €1bn bond it issued on Clearstream's ledger platform settled in central bank money through the Eurosystem's Pontes service, and Eurex Clearing said the same day that such bonds would become tradable in its repo market and eligible as margin.
Developments in which European Stability Mechanism is a named party, newest first.
A bond issued on a shared digital ledger has been paid for in central bank money through the euro area's new link. A big clearing house says traders will be able to borrow against such bonds, a test of whether digital debt can be used like the ordinary kind.
The bond, issued on Clearstream's ledger platform, settled in central bank money through the Eurosystem's Pontes on 2 November, an ECB board member said. Eurex Clearing said the same day that digital bonds, the fund's among them, will become tradable in its pooled repo market and eligible as margin, and gave no start date.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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