ECB expands EUREP to global €50 billion euro liquidity lines from July 2026

On February 14, 2026, the European Central Bank approved a major expansion of its EUREP emergency lending scheme, opening euro liquidity lines to almost all central banks worldwide. Each approved institution will be able to borrow up to €50 billion against high‑quality euro‑denominated government bonds, with the new framework taking effect from July 2026 and full access expected in the third quarter. The measure is intended to strengthen the euro’s international role and provide a standing safety net during periods of market stress.