T2S, a platform that will enable integrated securities settlement across Europe, has gone live as planned today, the European Central Bank announced.
Italy will no longer be one of the first set of countries to go live with Target2-Securities (T2S) later this month, securing a two month extension in the wake of "strong discomfort" among its banks.
On 28 May the T2S Board reviewed the status of the T2S testing activities and confirmed that the platform is sufficiently stable for live production on 22 June 2015.
EBA Clearing has launched a task force to lay the groundwork for a Europe-wide instant payment processing service it hopes to have up and running by 2018.
The Eurosystem comprises the European Central Bank (ECB) and the national central banks o fthe Member States that have adopted the euro as a common currency.
Despite flagging some concerns, the European Central Bank says that it does not think that the rise of virtual currencies currently provides a material risk to the smooth operation of payment systems.
The ECB's President Mario Draghi unveiled the new €20 banknote today at the ECB's headquarters in Frankfurt and announced that it would enter into circulation on 25 November 2015.
The European Central Bank (ECB) has launched two tools to make its statistics more accessible.
A senior executive at Deutsche Bundesbank has warned that banks will have to spend considerable sums on upgrading their IT systems if they are to cope with insatiable regulatory appetite for new data reporting standards.
With progress towards a single euro payments area well in train, the European Central Bank has identified instant payments with immediate availability of funds as the industry's next frontier for harmonisation and cross-border collaboration.
© Finextra Research 2015