BRUSSELS The European Central Bank on Friday showed unexpected impatience to unwind emergency steps taken to combat the economic crisis, announcing plans to tighten the terms on which it lends liquidity to eurozone banks.
The surprise announcement of tougher standards for asset-backed securities used as collateral highlighted how far the ECB is planning its “exit strategy” to dismantle measures taken after last year’s collapse of Lehman Brothers. These included expanding the range of assets eligible as collateral. Officials said the measure would come into effect in March.
