Central Banking

ECB's Tumpel-Gugerell confident of adding sterling to T2S

tumpel-gugerell-european-central-bank

The European Central Bank (ECB) will find a solution to enable sterling to join T2S, its securities-settlement platform, despite the Bank of England's initial misgivings, Gertrude Tumpel-Gugerell, a member of the ECB's Executive Board has said.

Andrew Bailey, the chief cashier at the Bank and executive director responsible for banking services, said in a letter written early June that the Bank was concerned with the governance of TS2 and costs.

However, Tumpel-Gugerell said at a press briefing

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