Eurosystem to move T2 to round-the-clock operating hours
Payment systems to be available at all times as instant payments gain popularity
The Eurosystem is set to extend the operating hours of its payments systems.
The European Central Bank announced its intentions to move the T2 payment system to “full 24/7 operational model” in the medium to long term as well as changes to its central liquidity management (CLM) system and its real-time gross settlement system (RTGS) in a press release on May 28.
The press release comes after a long consultation period which saw some 125 respondents from 19 countries. Several commenters asked for
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Move may be driven by demand for rapidly available funds and lower payment fees, say authors