The European Central Financial institution has set again the scheduled launch date of its new collateral administration system from 20 November 2023 to April 2004.
The brand new collateral administration system (ECMS) shall be a unified system for managing belongings used as collateral in Eurosystem credit score operations. It’ll substitute the present particular person techniques of the euro space nationwide central banks.
The ECMS is anticipated to profit the Eurosystem, its counterparties and the market at giant by harmonising collateral administration practices and contributing to additional EU monetary integration.
The ECB says the choice was taken to mitigate the affect of the rescheduled launch of T2, the Eurosystem’s new real-time gross settlement system and central liquidity administration mannequin, which was postponed by 4 months on 20 October 2022.