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The ECMS is scheduled for implementation on {{date|2025-6-16}}, when it will replace the national collateral management systems that have been operated since the inception of ] by each ].<ref>{{cite web |website=European Central Bank |url=https://www.ecb.europa.eu/paym/target/ecms/html/index.en.html |access-date={{date|2024-12-27}} |title=What is the Eurosystem Collateral Management System (ECMS)?}}</ref> The ECMS is scheduled for implementation on {{date|2025-6-16}}, when it will replace the national collateral management systems that have been operated since the inception of ] by each ].<ref>{{cite web |website=European Central Bank |url=https://www.ecb.europa.eu/paym/target/ecms/html/index.en.html |access-date={{date|2024-12-27}} |title=What is the Eurosystem Collateral Management System (ECMS)?}}</ref>


The ECMS project has been jointly developed by the ] and ] on behalf of the Eurosystem.<ref>{{cite web |website=Banque de France |url=https://www.banque-france.fr/en/monetary-strategy/operational-framework/garanties/ecms |access-date={{date|2024-12-27}} |title=The Eurosystem Collateral Management System (ECMS)}}</ref> Its start date, which a 2022 decision had set at {{date|2024-4-8}}, has been postponed several times.<ref>{{cite web |website=Deutsche Bundesbank |url=https://www.bundesbank.de/en/tasks/payment-systems/eurosystem-collateral-management-system/ecms-723744 |access-date={{date|2024-12-27}} |title=ECMS: Eurosystem Collateral Management System}}</ref> The ECMS project has been jointly developed by the ] and ] on behalf of the Eurosystem.<ref>{{cite web |website=Banque de France |url=https://www.banque-france.fr/en/monetary-strategy/operational-framework/garanties/ecms |access-date={{date|2024-12-27}} |title=The Eurosystem Collateral Management System (ECMS)}}</ref> Its start had originally been scheduled in late 2022,<ref name=BdFbook>{{citation |title=Payments and market infrastructures in the digital era |publisher=Banque de France |date=2018 |url=https://www.banque-france.fr/system/files/2023-04/payments_market.pdf}}</ref>{{rp|201}} but was subsequently postponed several times.<ref>{{cite web |website=Deutsche Bundesbank |url=https://www.bundesbank.de/en/tasks/payment-systems/eurosystem-collateral-management-system/ecms-723744 |access-date={{date|2024-12-27}} |title=ECMS: Eurosystem Collateral Management System}}</ref>


==See also== ==See also==

Latest revision as of 21:05, 27 December 2024

Financial infrastructure in Europe

The Eurosystem Collateral Management System (ECMS) is a unified platform for collateral management in the Eurosystem, intended to support the effectiveness of monetary policy in the euro area. It is one of the Eurosystem's TARGET Services, together with T2 for large payments, TARGET Instant Payment Settlement (TIPS) for instant payments, and TARGET2-Securities (T2S) for securities settlement.

Overview

The ECMS is scheduled for implementation on 16 June 2025, when it will replace the national collateral management systems that have been operated since the inception of economic and monetary union by each National Central Bank.

The ECMS project has been jointly developed by the Bank of France and Bank of Spain on behalf of the Eurosystem. Its start had originally been scheduled in late 2022, but was subsequently postponed several times.

See also

References

  1. "TARGET Services". European Central Bank. Retrieved 24 December 2024.
  2. "What is the Eurosystem Collateral Management System (ECMS)?". European Central Bank. Retrieved 27 December 2024.
  3. "The Eurosystem Collateral Management System (ECMS)". Banque de France. Retrieved 27 December 2024.
  4. Payments and market infrastructures in the digital era (PDF), Banque de France, 2018
  5. "ECMS: Eurosystem Collateral Management System". Deutsche Bundesbank. Retrieved 27 December 2024.


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