Target2-Securities (T2S)
ECB invites entrants for wholesale ‘digital euro’ trial
CBDC work in 2024 will test Banque de France, Bank of Italy and Bundesbank DLT solutions
ECB announces independent inquiry into Target2 outage
Main findings on RTGS failure will be published by second quarter of next year, ECB says
Eurozone’s RTGS system suffers major outage
ECB says Target2 system’s production site had to shift to alternative region – rules out cyber incident
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
ECB prepares for ‘big bang’ move to new market infrastructure
Eurozone's payments, instant payments and securities settlement systems will merge by end of 2021
Riksbank investigates adoption of T2S for securities trading
Central bank thinks securities settlement must move towards faster, round-the-clock operations
Risk management technology: Vermeg
Having successfully delivered the collateral management module of its Megara system to four major central banks, Vermeg has won a high-profile tender to deliver the technology for the Eurosystem Collateral Management System
ECB launches eurozone real-time retail payments platform
ECB aims to prevent fragmentation of European real-time payments market
ECB approves major financial infrastructure programmes
ECB plans for Target2 and T2S to merge, plus new collateral management system for Eurosystem
National curbs hit budding pan-EU settlement market
Restrictions on primary dealers undermine T2S efficiencies, market sources say
Swedish clearing system puts infrastructure at risk – Riksbank
“Inflexible” system could damage the conduct of monetary policy, the Swedish central bank says; banks should consider other options
DLT not ‘mature enough’ for eurozone usage, ECB says
ECB’s annual report explores progress with distributed ledger technology, emphasising it is still in its infancy; DLT could eventually be used for Europe’s payment and securities settlement systems
Mersch: volume of T2S trades due to greatly expand
The “Target instant payment settlement system” could be working as soon as 2018, Mersch adds
ECB publishes online newsletter on financial market infrastructure
Newsletter will be published three times a year, covering central bank’s work as operator and overseer of financial market infrastructure
Annual Target2 volumes fall, ECB announces
Transactions on the eurozone’s real-time gross settlement system fell to their lowest-ever level in 2015; ECB concerned this could threaten cost recovery
ECB’s Mersch provides update on infrastructure work
Yves Mersch says business requirements being gathered from market participants ahead of instant payments; highlights plans for review of harmonisation of collateralisation procedures
Eurosystem to consider Target2 and T2S merger
Yves Mersch says officials will look into the potential for consolidating some components of the payments and securities settlement services; potential for one unified platform
Dutch bulletin: T2S can only succeed if ‘many’ CSDs sign up
The Netherlands Bank's latest bulletin highlights the importance of more CSDs in Europe signing up to the Target2-Securities platform since the initial migration in June
ECB welcomes ‘smooth’ T2S launch
Culmination of seven-year process sees first four CSDs migrate to the new platform and settle the first transactions, despite fears over remaining bugs
ECB’s Mersch dismisses concerns over T2S launch at weekend
ECB executive board member admits a few bugs remain in Target2 Securities system, but argues they are not major and will not interrupt this weekend’s migration