Legal Documentation

Eurosystem monetary policy operations are governed by Guideline ECB/2014/60, as amended (the 'General Documentation' or the GD).

The provisions of the General Documentation have been implemented in Ireland by the Central Bank's Documentation on Monetary Policy Instruments and Procedures (the 'MPIPs'). In addition, there are further supplements to the MPIPs which provide for:

  1. Temporary features of the Eurosystem monetary policy framework (MPIPs Additional Temporary Measures Supplement);
  2. Valuation haircuts (MPIPs Valuation Haircuts Supplement);
  3. Harmonised rules and arrangements for the mobilisation and management of collateral in Eurosystem credit operations (MPIPs Collateral Management Supplement).
 

Please visit the ECB section on EUR-Lex for further details on the legal framework governing monetary policy and operations at https://www.ecb.europa.eu/ecb/legal/1002/1014/html/index-tabs.en.html.

Monetary Policy Instruments and Procedures (March 2026) | pdf 1586 KB MPIPs Valuation Haircuts Supplement (March 2026) | pdf 411 KB MPIPs Additional Temporary Measures Supplement (June 2025) | pdf 325 KB MPIPs Collateral Management Supplement (March 2026) | pdf 427 KB MPIPs Provision of Liquidity in US Dollar Supplement | pdf 349 KB MPIPs Agreement for new counterparties | pdf 293 KB

Collateral Mobilisation Agreements

General Monetary Policy Framework

Collateral Pooling Framework Agreement | pdf 531 KB Deed of Charge (Collateral Pooling Framework Agreement) | pdf 414 KB Template Legal Opinion (Irish counterparties) - Collateral Pooling Framework Agreement | pdf 87 KB Template Legal Opinion (non-Irish counterparties) - Collateral Pooling Framework Agreement | pdf 92 KB MBPN Framework Agreement | pdf 945 KB Master Substitution Agreement | pdf 283 KB