ECB designates four 'systemic' payments systems subject to new regulatory standards
Target2, Core(FR), Euro1 and Step2-T named systemically important
The European Central Bank (ECB) today identified four payment systems as systemically important and will now subject them to stricter oversight standards under new regulation introduced last week.
The list includes Target2, the real-time gross settlement system owned and operated by the Eurosystem, as well as Core(FR), a real-time processing system operated by Stet.
It also includes Euro1, a large-value payment system, and Step2-T, an automated clearing house for bulk payments in the Single Euro
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