T2S report shows a drop in ‘major incidents’ but Covid-19 era weighing on settlement efficiency
Number of major incidents, settlement data and updates on the Eurosystem Collateral Management System project included in a new report from the ECB.
Tag: T2S
ESMA calls for European Commission to expand scope of CSDR
ESMA have suggested the scope of the rules should include oversight of T2S and of third-country CSDs operating settlement services in the EU.
Redrawing the custody map
Is the growth of regional sub-custody offerings a response to client demand or an inevitable development path dictated by economics?
Nordea exits sub-custody for the Nordics, agrees deal with Citi for client transition
Local sub-custody providers have faced a challenging environment amid growing competition from global custody banks and increased regulatory costs.
Clearstream completes roll out of Investor CSD solution for T2S markets
Clearstream can now offer custody and settlement services for banks and their cross-border transactions in 99% of all T2S-in securities.
Citi completes pan-Nordic sub-custody offering with new Finland access
The launch of the Finland direct custody service marks the completion of a 14-year build-out of its Nordic sub-custody business by the US bank.
T2-T2S consolidation project delayed until November 2022 after industry pressure
ECB decided to push back project to replace TARGET2 with a new real-time gross settlement, while also delaying the new Eurosystem Collateral Management system.
T2S sees volumes spike in 2019 as ECB provides update on platform
ECB releases annual statement with transactions value and volumes data and updates on other initiatives.
European banks ask for one-year delay on ECBs T2-T2S consolidation plan
The associations said the industry would not be able to make the changes to adapt to the planned consolidation of T2 and T2S by November 2021.
European Commission endorses CSDR push-back
The endorsement comes two months after the ESMA stated it would postpone enforcing CSDR's settlement discipline regime following an industry-wide lobby.