The Governing Council of the European Central Bank has appointed members of the TARGET2-Securities (T2S) board, the new management body for the T2S programme. The new body takes over the role fulfilled so far by the T2S Programme Board.
The ECB said the new streamlined management body for T2S, the ECB Project to create a common technical platform for securities settlement in Europe, will develop proposals for the Governing Council on key strategic issues and executing tasks assigned to it by the Governing Council.
The Governing Council appointed Jean-Michel Godeffroy, director general at the ECB and former chairman of the T2S Programme Board, as chairman, Pierre Beck, executive director, Banque centrale du Luxembourg, as deputy chairman, and eight other members from Eurosystem central banks.
Two non-central bank members were appointed: Paul Bodart, up to now managing director of the Bank of New York Mellon and Soledad Nuez, former director general of the Treasury and Financial Policy, Ministry of Economy and Finance of Spain.
The eight other members from Eurosystem central banks are:- Peter Holicka, executive cirector Payment Systems, Nrodn banka Slovenska;- Luc Janssens, head of the Securities Division, Nationale Bank van Belgi/Banque Nationale de Belgique;- Yvon Lucas, adviser to the General Director of Operations General Directorate, Banque de France;- Cristina Mastropasqua, senior manager, Payment Systems Department, Banca dItalia;- Jochen Metzger, head of the Payments and Settlement Systems Department, Deutsche Bundesbank;- Michalis Michalopoulos, director of the Government Financial Operations and Accounts Department, Bank of Greece;- Michael Power, head of IT & deputy chief information officer, Central Bank of Ireland;- Luis Miguel Rodriguez Caramelo, senior advisor to the Directorate General Operations, Markets and Payment Systems, Banco de Espaa.
The Governing Council also appointed as T2S Board member Kristian Kjeldsen, head of the Payment Systems Department at Danmarks Nationalbank. The Danish central bank signed the T2S Currency Participation Agreement and will make the Danish krone available in T2S in 2018.
The T2S Board shall ensure that the T2S Programme is delivered according to market expectations, within the T2S financial regime and the time frame established by the Governing Council, said an ECB press release. After implementation is completed, the T2S Board shall ensure the smooth operation of the T2S system in accordance with the relevant technical and legal documents.
T2S is set to start operations by June 2015.
(JDC)