Eurosystem launches single collateral management system
0
The ECMS thus becomes the fourth TARGET Service in operation, advancing the Eurosystem's vision for a unified, efficient and innovative European financial framework.
The ECMS manages assets used as collateral in Eurosystem credit operations. Together with the other TARGET Services, the ECMS will ensure that cash, securities and collateral can flow freely across Europe.
The software and the environment for the new system were delivered by the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d'Italia - the four national central banks that act as service providers for TARGET Services (T2, TARGET2-Securities and TIPS). The successful launch of the ECMS reflects the joint efforts and commitment of all euro area central banks in supporting their market participants (counterparties, central securities depositories and triparty agents) throughout this project. Thanks to close cooperation and extensive activities such as testing and migration rehearsals, all parties have ensured that participants can fully leverage the benefits of the new platform from day one.
With the ECMS going live, the Eurosystem now offers a single system that harmonises the management of collateral for Eurosystem credit operations. The ECMS replaces the individual national collateral management systems previously operated by the 20 euro area national central banks. Furthermore, the ECMS will facilitate the smooth flow of cash, securities and collateral within the euro area by enhancing the liquidity management features of the TARGET Services.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BBC News
9 minutes ago
- BBC News
Forward thinking
The team most in need of goals is Manchester United.Last season, Mohamed Salah of Liverpool and Alexander Isak of Newcastle combined to score far more in the Premier League (52) than United did as an entire squad (44).Considering they had splurged more than £200m last summer to just about zero effect, it is no surprise that new defenders are way down on their list of priorities this everyone else, they are looking ahead by investing £62.5m on Matheus Cunha and another £65m-plus on Bryan a great time to be an attacker in the Premier League, but there is also huge pressure that comes with those transfer fees, especially at up to read more from Pat Nevin in his Football Extra newsletter
The Sun
11 minutes ago
- The Sun
Aldi selling no-effort household gadget that cuts cleaning time in half
ALDI is selling a no-effort household gadget that can help lessen the load of your household chores. The bargain retailer is currently selling a product that can help to get rid of pesky pet hair that can build up on blankets and other bedding. Vamoosh Pet Hair Dissolver can be found in stores' middle aisle, which is home to a number of limited edition bargain products. The German discounter releases these products every Thursday and Sunday as part of its Special Buy range. The sachets are placed in the dispenser drawer of your washing machine and then customers run the pet blankets on a hot long cycle along with detergent. Shoppers can expect to pay £3.95 for the cleaning product at Aldi. Other retailers such as The Range and Pets at Home charge £4 for the product. Ocado is currently running an offer where shoppers can pick up the sachets for £3.60. Reviews left by customers who have previously bought the product said there were "no sign" of pet hairs on their animals' bed after using it. If you are keen to shop for the product at Aldi, you will need to be quick, as, like all other Special Buy products, once it's gone, it's gone. And it is not the only product shoppers are keen to get their hands on. Bargain hunters have been going wild for a £19.99 multicolour light pillar that is perfect for brightening up a bedroom. Aldi urgently recalls £3.29 freezer essential over dangerous disease that affects 1 in 100 of Brits The store is also selling a £3.99 dupe for Olaplex that is £24 cheaper than the branded version. And those keen to spruce up their garden should keep their eyes peeled for a £4.99 booze trolley, ideal for summer parties. Aldi is not the only supermarket offering savings this summer. Shoppers have also been flocking to B&M to get their hands on a stylish table and chair set scanning for £40 instead of £110. How to save money at Aldi Unlike other major grocers, Aldi does not have a rewards or point card system but that does not mean you cannot save on your shop. Every week the store releases a list of special buys , which are unique bargain products you find online at Aldi and in store. The store releases a fresh range of deals every Thursday and Sunday, so be sure to check regularly to see what's new. Meanwhile, the store also regularly sells fruit and vegetables at highly discounted prices, as part of its 'super six' deal. It also does weekly saving offers on typically pricey items such as meat and fish. How to bag a bargain SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain… Sign up to loyalty schemes of the brands that you regularly shop with. Big names regularly offer discounts or special lower prices for members, among other perks. Sales are when you can pick up a real steal. Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on. Sign up to mailing lists and you'll also be first to know of special offers. It can be worth following retailers on social media too. When buying online, always do a search for money off codes or vouchers that you can use and are just two sites that round up promotions by retailer. Scanner apps are useful to have on your phone. app has a scanner that you can use to compare prices on branded items when out shopping. Bargain hunters can also use B&M's scanner in the app to find discounts in-store before staff have marked them out. And always check if you can get cashback before paying which in effect means you'll get some of your money back or a discount on the item.
Reuters
11 minutes ago
- Reuters
EU court reduces fine on Credit Suisse over foreign exchange cartel
BRUSSELS, July 23 (Reuters) - The European Union's General Court reduced on Wednesday a fine imposed on Credit Suisse to 28.9 million euros ($33.92 million)from a previous 83.2 million euros fine, over its participation in a cartel in the foreign exchange trading sector. The court ruled that Credit Suisse did participate in the cartel, but added that the European Commission did not correctly determine the amount of the fine. ($1 = 0.8519 euros)
