earmarking system

At the ECB, a system for the management of collateral by the central bank. In the course of this process, liquidity (= central bank money) is provided against collateral which is marked as cover for each individual transaction (a method for categorizing collateral whereby assets provided as collateral are attributed to individual transactions). – Cf. ECB Monthly Bulletin, October 2007, pp. 93 ff. (comparison of collateral arrangements at the ECB with the U.S.A. and Japan; many overviews).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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