Transcript TARGET2 - Homepage - De Nederlandsche Bank

TARGET2
Interconnection with T2S
Overview
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The need to adapt TARGET2 to T2S
System to system connection
Mandatory amendments to core services
Value added services
Interactions between the banks and TARGET2 / T2S
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TARGET2 adaptations to T2S
The need to adapt TARGET2 to T2S
• The intensive discussions between the Eurosystem, the 3CB
and the banks lead to the following conclusion:
– The connection of T2S to TARGET2 will be considered and built as a
new interface specially designed for T2S
– The same technical interface (with the same message standard) should
be used for the management of both T2 cash accounts and T2S
Dedicated Cash Accounts
– There is a need of monitoring and consolidating liquidity posted in T2
accounts and T2S Dedicated Cash Accounts in real time
– Shifts of liquidity (Liquidity Transfers – LT) in both directions (from T2
to T2S and T2S to T2) to be made available
– Data consistency between both systems to be ensured (i.e. for
reference data)
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Overview
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The need to adapt TARGET2 to T2S
System to system connection
Mandatory amendments to core services
Value added services
Interactions between the banks and TARGET2 / T2S
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TARGET2 adaptations to T2S
System to system connection
• Use of ISO 20022 compliant standard including Business Application
Header
• Creation of a dedicated T2S interface in TARGET2
• Management of liquidity transfers in both directions
RTGS
RTGS
RTGS
T
2
S
I
DCA
Securities
DCA
Securities
ISO 20022
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Overview
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The need to adapt TARGET2 to T2S
System to system connection
Mandatory amendments to core services
Value added services
Interactions between the banks and TARGET2 / T2S
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TARGET2 adaptations to T2S
Mandatory amendments to core services
• Implementation of camt5 (without Business Application Header)
(camt5 is the only valid standard for T2S related A2A customer interaction in
T2)
• Development of new messages (in addition to proprietary messages)
In release 5.0 (Nov 2011)
In release 7.0 (Nov 2013)
CAMT 3
CAMT 4
CAMT 3
Only for
non-T2S
related
business
CAMT 4
For T2S and nonT2S related
business
CAMT 5
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TARGET2 adaptations to T2S
Mandatory amendments to core services
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Event-oriented standing orders for liquidity transfers from TARGET2 to T2S (setting up via
U2A and A2A)
Optional debit notifications in MX (camt.054)
Credit notifications in MX (camt.050)
Current order for liquidity transfers from TARGET2 to T2S via U2A or A2A (camt. 050)
Bank
Standing/current order
liquidity transfer
(U2A or A2A camt5)
Credit notifications
optional debit notifications (camt5)
RTGS
RTGS
RTGS
RTGS
ISO 20022
DCA
Securities
DCA
Securities
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Overview
•
•
•
•
•
The need to adapt TARGET2 to T2S
System to system connection
Mandatory amendments to core services
Value added services
Interactions between the banks and TARGET2 / T2S
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TARGET2 adaptations to T2S
Value added services
Some TARGET2 participants may not be ready by the time T2S goes
live to properly interact with T2S
Several optional services are proposed by the Eurosystem
to manage their cash across TARGET2 and T2S
But
These optional services will be developed only if TARGET2
participants confirm their needs on the basis of the pricing that
will be decided. A tentative pricing will be announced towards the
end of the year.
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TARGET2 adaptations to T2S
Value added services
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Intraday balance of DCA (=> cash integration) in U2A / A2A (camt.003)
Liquidity transfers from TARGET2 to T2S via MT202
Liquidity transfer from T2S to TARGET2 via MT202, U2A or A2A (camt.050)
Credit notifications via MT202 and optional debit notifications via MT900
DCA end of day statements (MT940/MT950 or camt.053 without BAH)
Access to T2S GUI via the ICM (to be confirmed)
Bank
Liquidity transfer (MT202)
Liquidity transfer (U2A/A2A camt5)
Access to T2S GUI via the ICM
DCA intraday balance (U2A/A2A camt5)
Optional debit notifications (MT900)
Credit notifications (MT202)
DCA end of day statement (MT940/MT950 or camt5 without BAH)
RTGS
RTGS
RTGS
RTGS
ISO 20022
DCA
Securities
DCA
Securities
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Cash related information flows
Overview
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The need to adapt TARGET2 to T2S
System to system connection
Mandatory amendments to core services
Value added services
Interactions between the banks and TARGET2 / T2S
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TARGET2 adaptations to T2S
Interactions between the banks and TARGET2 / T2S
ISO20022
RTGS
Conversion by TARGET2
Optional offer
DCA
Central
Bank
Money
standards
Legacy
Standard offer
Eurosystem’s offer for TARGET2 (cash side)
ISO20022 compliant interface
• Access to RTGS related features via TARGET2
using a new ISO20022 compliant interface.
• Access to DCA related features via the regular T2S
ISO20022 compliant interface.
Alternative interface (legacy standards)
•Access to the main DCA features via TARGET2:
Intraday balance on the DCA
Liquidity shift (push and pull)
End of day statement for the DCA
Converted by
TARGET2
•Eased access to the T2S GUI for other features
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TARGET2 adaptations to T2S
Interactions between the banks and TARGET2 / T2S
Bank
CSD
ISO
ISO
U2A/camt5/MT
RTGS
RTGS
RTGS
RTGS
Securities related information flows
Cash related information flows
ISO
DCA
Securities
DCA
Securities
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