The European Central Bank (ECB) introduced an updated framework for the assessment of securities settlement systems (SSSs) and links to determine their eligibility for use in eurosystem credit operations. The eurosystem settles its credit operations based on adequate collateral using SSSs and links between SSSs operated by central securities depositories, based in the EU and outside the EU. To ensure the eurosystem is not exposed to inappropriate risks, a positive assessment within this framework is required for an SSS to be eligible for use in the eurosystem credit operations.