Eurosystem reschedules launch of new collateral management system

2 December 2022

Metadata
Provider: 
ECBECB
URL: 
https://www.ecb.europa.eu//press/pr/date/2022/html/ecb.pr221202~e8a4e9cbe9.en.htmlhttps://www.ecb.europa.eu//press/pr/date/2022/html/ecb.pr221202~e8a4e9cbe9.en.html
Retrieved on: 
Saturday, December 3, 2022
Information
Tags: 
Governing Council of the European Central Bank, Time, Reproduction, Frankfurt, Communication, European Central Bank, ECMS, Security (finance), EU, Eurosystem
Geotags: 
GERMANY
Summary
Key Points: 
  • 2 December 2022
    - Launch of Eurosystem Collateral Management System (ECMS) rescheduled from 20 November 2023 to 8 April 2024
    - Additional time will help mitigate impact of rescheduled T2 launch
    The Governing Council of the European Central Bank has decided to reschedule the launch of the Eurosystem Collateral Management System (ECMS) from 20 November 2023 to 8 April 2024.
  • This decision was taken to mitigate the impact of the rescheduled launch of T2, the Eurosystems new real-time gross settlement system and central liquidity management model, which was postponed by four months on 20 October 2022.
  • The ECMS will be a unified system for managing assets used as collateral in Eurosystem credit operations.
  • The ECMS is expected to deliver considerable benefits to the Eurosystem and its counterparties and to the market at large by harmonising collateral management practices and contributing to further EU financial integration.
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