27 May 2015
Your browser is unable to support Flash files.

ECB abandons "challenging" Collateral Central Bank Management (CCBM2) project

15 June 2012  |  2583 views  |  0 Source: European Central Bank

The Governing Council of the European Central Bank (ECB) has decided to discontinue the preparations for the Collateral Central Bank Management (CCBM2) project in its current form.

In the project detailing phase, a number of challenges in the field of harmonisation were identified and the Eurosystem has decided to address these issues first before proceeding further with a common technical platform. The existing Correspondent Central Banking Model (CCBM) for cross-border collateral management remains in place.

In the immediate future, the Eurosystem will concentrate on implementing the previously announced enhancements to Eurosystem collateral management services, namely the removal of the repatriation requirement from the CCBM and the support of cross-border triparty collateral management services within the CCBM. Both enhancements will be introduced in the Eurosystem collateral management framework in the course of 2014. Furthermore, the Eurosystem will prepare for the support of T2S auto-collateralisation procedures.

The Eurosystem will also continue assessing and developing its collateral management framework and practices, liaising closely with the market to understand future needs. Emphasis in this respect shall be placed on harmonisation, with the initiation, both within the Eurosystem and in collaboration with the market, of a broader reflection on the harmonisation of collateral procedures.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
7895 views comments | 50 tweets | 32 linkedin
UK opts out of European online payments se...
7500 views comments | 22 tweets | 17 linkedin
Bigger banks may have to set up their own...
6391 views comments | 41 tweets | 33 linkedin
JPMorgan Chase puts data to use with new t...
4614 views comments | 16 tweets | 7 linkedin
Postbank trials HCE mobile payments
4600 views comments | 9 tweets | 8 linkedin

Featured job

up to c.£100K base (d.o.e), commission, benefits
London, UK

Find your next job