Participating institutions can secure up to 50 billion euros in liquidity through loans backed by high-quality, euro-denominated collateral. The cost of these funds is tied to the ECB’s main refinancing operations rate, supplemented by a specific spread.

Once the onboarding phase concludes, central banks will have the autonomy to utilize EUREP funds without prior restrictive conditions. This facility is designed to bolster financial stability by providing a reliable source of euro liquidity, with full operational capacity expected by the final quarter of 2026.