ECB approves 50 billion euro repo line for North Macedonia

The European Central Bank (ECB) has approved the National Bank of North Macedonia's access to the Eurosystem's standing repo facility (EURREP). This permanent instrument provides a maximum capacity of 50 billion euros.

Once the technical connection process is complete, the National Bank will have rapid access to euro liquidity. This mechanism is designed to help manage potential financing shocks and increased demand for euros, thereby strengthening the resilience of the financial system.

Previously, the National Bank had access to an ECB repo line limited to 400 million euros, which was established during the COVID-19 pandemic and extended until January 2027. Unlike the previous arrangement, the EURREP is a permanent Eurosystem tool intended to support the continuous implementation of monetary policy by providing liquidity to central banks outside the eurozone.