Central Banking

Buba's Fabritius on the new TARGET2 system

In the speech 'The new TARGET2 system and recent developments in European securities settlement' given on 15 November Hans Georg Fabritius of the Bundesbank said we will only be able to realise TARGET2 Securities with the active involvement and constructive cooperation of the banks and the central securities depositories (CSDs).

"TARGET2 Securities should not be understood as a hostile or, indeed, friendly takeover of the CSDs' business by the Eurosystem. The main issue here is also our core

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