President of the ECB Jean Claude Trichet mentioned today ahead of the EU Summit that the ECB will extend emergency collateral rules that were amended after the crisis at investment grade level (BBB-) beyond 2010. He revealed that in January the ECB is going to put a way of applying different grades to the collateral that would be accepted, and pledged to divulge details in the coming meeting on April 8.

This announcement is expected to lower pressure on the indebted EU countries but he stated that ECB won't change its collateral measures for the sake of any particular country, referring to Greece that is facing the risk of its bonds to become ineligible at ECB refinancing operations.