Central Banking

T2S framework agreement delayed due to four remaining issues

European Union flags

Speaking at a European Clearing and Settlement conference, Jean-Michel Godeffroy, chairman of the T2S programme board at the ECB said that the bank is still in negotiations with the central securities depositary's (CSDs) on matters relating to governance, service levels, amendments and terminations, and liability.

On governance, Godeffroy explained that the respective rights of CSDs and the Eurosystem in T2S change management still need to be outlined. For example, should this be standard

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