The European Central Bank has postponed the launch of its new collateral management system from 20 November 2023 to April 2024.
The new collateral management system (ECMS) will serve as a unified platform for managing assets used as collateral in Eurosystem credit operations, replacing the separate systems currently employed by the national central banks of the euro area.
This initiative aims to enhance the Eurosystem, its counterparties, and the broader market by standardizing collateral management practices and fostering further financial integration within the EU.
The ECB made this decision to lessen the effects of the revised launch schedule for T2, the Eurosystem’s new real-time gross settlement system and central liquidity management model, which was postponed by four months on 20 October 2022.