Central Banking

ECB updates operational conditions for pay systems

On 20 February 2001, the Governing Council of the ECB updated the operational conditions for the use of eligible securities settlement systems (SSSs) in the settlement of collateral for Eurosystem credit operations. The SSSs have maintained their efforts to enhance compliance with the standards, allowing the Eurosystem to continue reducing the preconditions for their use.

In this respect, CADE and Monte Titoli have introduced real time delivery versus payment procedures. Therefore, there are