The Bank of Finland participates in the Eurosystem’s TARGET2-Securities project (T2S), the aim of which is to remove the national barriers in the settlement of securities transactions in Europe by creating a service that is based on a single platform. This will improve the safety of securities settlement.
At the Bank of Finland’s Banking Operations department, the responsibilities concerning T2S are allocated to the Payment and Settlement division. Its role in the T2S project is two dimensional. The Payment and Settlement division monitors, on behalf of the Bank of Finland, and in the role of system owner and financier, the costs and pricing, progress, governance and legal developments in the project. In its operational role, the Payment and Settlement division is responsible, on behalf of the Bank of Finland, for monitoring the system and contingency arrangements, customer data, and the links between the T2S settlement system, TARGET2 payment system and the CCBM2 collateral management system.
Detailed information on the T2S project is available on the ECB’s website at http://www.ecb.europa.eu/paym/t2s/html/index.en.html
