Making Europe’s financial market infrastructure a bulwark of financial stability

Y. Mersch

Financial Stability Review, 2016, issue 20, 71-75

Abstract: Europe’s financial market infrastructure has proved to be resilient through bouts of financial market volatility, supporting the liquidity and stability of financial markets in times of stress. The European Central Bank and the Eurosystem, in conjunction with European legislators and market participants, have made Europe’s financial market infrastructure into the bulwark of financial stability it is today. Looking ahead, besides a further deepening of integration, the focus in the further development of market infrastructure is on the impact of technological innovation such as distributed ledger technologies. To deal with the technological and strategic challenges, the Eurosystem has developed three key action points it will work on in the run up to 2020: 1) explore synergies between TARGET2 and T2S, 2) support the development of a pan-European instant payment solution, and 3) review the harmonisation of Eurosystem arrangements and procedures for collateralisation.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:fisrev:2016:20:7

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