EBF response on T2S

06 February 2007

The EBF reiterates its support to the ECB’s proposed TARGET 2 Securities initiative but believes that all information, for example scope, benefits, and costs, is not yet available which does not allow them to completely evaluate the proposed economics of the project. The functionality and the governance of the proposed initiative should also be explored in greater depth and clearly communicated to stakeholders.

EBF therefore recommend that the ECB provides as soon as possible further information on the operational aspects of the proposal in order to assess its benefits.

The EBF welcomes the ECB’s proposals to launch a formal consultation and encourages the ECB to ensure that users’ views are considered and fully accommodated.

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