Central Banking

T2S is 'only solution': ECB's Tumpel-Gugerell

The European Central Bank sees its proposal on securities settlement, called TARGET2 Securities, as offering an "efficient organisation of central bank money", says Gertrude Tumpel-Gugerell, a member of the executive board, in an interview in the autumn issue of SPEED, the new payments system journal.

The proposal responded to a market demand to settle both securities and central bank money in the same technical platform:

"This is the basic idea. The purpose is to harmonise interfaces between c

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