The European Central Bank is preparing to launch a new euro liquidity facility, known as EUREP, allowing central banks outside the euro area to borrow up to €50 billion starting from the fourth quarter of 2026. The ECB has already begun the application and readiness process for interested central banks. Under this facility, participating central banks can borrow euro liquidity against high-quality euro-denominated collateral. The interest rate will be based on the ECB's main refinancing rate plus a spread, and there will be no pre-set restrictions or conditions on the use of the funds. This measure aims to enhance euro liquidity for countries outside the euro area and support financial market stability during periods of potential volatility.