ECMS official launch date announced
25 October 2024 EU
Image: Alva_Steury/stock.adobe.com
The Governing Council of the European Central Bank (ECB) has announced a new go-live date for the Eurosystem Collateral Management System (ECMS) 鈥� 16 June 2025.
This date will provide sufficient time for national central banks of the euro area and their counterparties to test the system in a stable environment to ensure user readiness, the ECB says.
The decision to reschedule the launch of the ECMS from November 2024 was due to the need for additional preparation time, identified by the Market Infrastructure Board (MIB), to achieve a 鈥渟eamless鈥� launch.
The ECMS is a unified system that aims to harmonise the management of collateral for Eurosystem credit operations, replacing the systems currently operated by the 20 euro area national central banks.
Alongside the other TARGET Services offered by the Eurosystem, the ECMS will provide enhanced liquidity management features to facilitate the smooth flow of cash, securities and collateral across Europe, according to the bank.
This date will provide sufficient time for national central banks of the euro area and their counterparties to test the system in a stable environment to ensure user readiness, the ECB says.
The decision to reschedule the launch of the ECMS from November 2024 was due to the need for additional preparation time, identified by the Market Infrastructure Board (MIB), to achieve a 鈥渟eamless鈥� launch.
The ECMS is a unified system that aims to harmonise the management of collateral for Eurosystem credit operations, replacing the systems currently operated by the 20 euro area national central banks.
Alongside the other TARGET Services offered by the Eurosystem, the ECMS will provide enhanced liquidity management features to facilitate the smooth flow of cash, securities and collateral across Europe, according to the bank.
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