Central Banking

News from SIBOS banking conference

Jean-Michel Godeffroy, director general of payment systems at the European Central Bank, was at the centre of several key debates at the SIBOS conference in Copenhagen on Wednesday 7 September.

First, as regards the timing of the changeover to Target 2, Dieter Becker, head of Target division at the ECB, laid out in detail the progress made and the timetable envisaged, with the "migration phase" to the new system due to take place mostly in 2007-08. However, commercial bankers had been expecting

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FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

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