New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
Work to consolidate two of Europe’s largest payment networks is likely to be delayed by a year following a request from the Market Infrastructure Board.
According to a statement from the European Central Bank, the board has requested the go-live date for the T2-T2S consolidation project be pushed back to November 2022.
Target2 is the region’s real-time gross settlement system, charged with settling payments between banks that have accounts with the central bank. Target2-Securities is the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
Ukraine moves to curtail capital flight
NBU says changes will support defence, business and “nuclear insurance pool”
Draghi report calls for step change in EU investment
Former ECB chief says bloc should revive securitisation and finish capital markets union to stay competitive
RBA examines central clearing for bond and repo markets
Central bank says recent developments mean there is a stronger case for CCPs
BoE’s high-value payment system hit by ‘global payments issue’
Settlement of some payments delayed after problem originating with Swift; ECB delays closure of Target systems
Banque de France and HKMA to conduct cross-border CBDC test
HKMA is the first non-European central bank to join the Eurosystem’s wholesale DLT settlement trials
Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
PMA launches instant payments amid Gaza cash shortage
Instant payments rolled out as most banks in Gaza have suffered “partial or total destruction”