Ireland:
T2 (replacing TARGET2) Will Go-live On 20 March 2023
23 February 2023
Arthur Cox
To print this article, all you need is to be registered or login on Mondaq.com.
The ECB's Governing Council has announced that the
launch of T2, its new real-time gross settlement system which will
replace TARGET2, will go ahead as planned on 20 March 2023.
The go-live date was previously pushed
out from 21 November 2022 to 20 March 2023 to ensure greater
system stability and user readiness, and to facilitate as smooth a
transition as possible to the new platform.
"The T2-T2S consolidation
project will consolidate both the technical and the functional
aspects of TARGET2 and TARGET2-Securities (T2S). The current
real-time gross settlement system, TARGET2, will be replaced by a
new system, T2, which will optimise liquidity management across all
TARGET Services and offer enhanced and modernised services to the
market."
https://www.ecb.europa.eu/paym/intro/news/html/ecb.mipnews230220.en.html
This article contains a general summary of developments and
is not a complete or definitive statement of the law. Specific
legal advice should be obtained where appropriate.
POPULAR ARTICLES ON: Finance and Banking from Ireland
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
FCA's Consultation Paper
Cadwalader, Wickersham & Taft LLP
Since 3 January 2018, firms that provide portfolio management or investment advice on an independent basis must pay for the research they obtain...
AIFMD II: Main Amendments
Kromann Reumert
The directive amending the Alternative Investment Fund Managers Directive ("AIFMD II") has been adopted and will enter into force on 15 April 2024 with a transposition deadline two years later...
To The Point: Financial Regulation | 03/2024
Schoenherr Attorneys at Law
Welcome to our to the point newsletter. Every month, we are looking back at the most relevant developments in the area of financial regulation in the CEE region.