In 2008 the average amount of eligible collateral increased by 17.2%, compared with 2007, to a total of € trillion. As regards the composition of collateral put forward, the average share of asset-backed securities increased from 16% in 2007 to 28% in 2008, overtaking uncovered bank bonds as the largest class of assets put forward as collateral with the Eurosystem.
Uncovered bank bonds accounted on average for slightly less than 28% of the collateral put forward in 2008. The average share of non-marketable assets increased from 10% in 2007 to 12% in 2008. By contrast, the average share of central government bonds dropped from 15% in 2007 to 10% in 2008.