European Central Bank Executive Board member Benoit Coeure said on Wednesday there is no shortage of collateral in the euro zone financial market and the priority is to make better use of it to ensure smooth financial transactions.

"Don't expect the ECB to be very forthcoming in further extending its collateral moves. We've done a lot already," Coeure said in a seminar held in Osaka, western Japan.

Coeure is in Osaka to participate in the Sibos conference, a gathering of the world's banking and financial leaders to discuss interbank money settlement systems and financial regulation.

(Reporting by Leika Kihara; Editing by Michael Watson)