Philip R. Lane, Member of the Executive Board of the European Central Bank, stated that the ECB has enhanced its international liquidity tool, the Eurosystem Repo Facility for central banks (EUREP), to make it more flexible and effective in supporting the smooth transmission of monetary policy in the euro area. EUREP will provide euro liquidity to non-euro area central banks, with a maximum limit of 50 billion euros per central bank, and will start providing funds from the fourth quarter of 2026. Lane noted that this move is expected to have a positive impact on the euro-denominated bond market, encouraging foreign central banks to hold euro-denominated bonds and enhancing the integration of the euro area bond market.