PRESS RELEASE

TARGET2-Securities and the CCBM2 – Launch of a Public Consultation

26 April 2007

Following its announcement on 8 March, the Governing Council of the European Central Bank has today decided to launch a public consultation on the general principles and the set of high-level proposals defining the nature and scope of TARGET2-Securities (T2S). The comments and views received from market participants will be assessed and incorporated in the T2S user requirements to be prepared by the Eurosystem by the end of this year.

Furthermore, comments are also invited on the principles for the development of a common platform for Eurosystem collateral management, which will be called Collateral Central Bank Management (CCBM2). These comments will constitute the basis on which the Eurosystem will finalise the user requirements for the new platform.

Further information and the deadlines for replies can be found in the documents for consultation.

Any comments received will be made public on the internet, unless it is clearly indicated that the author does not consent to such publication. Comments should be sent in English or in the relevant official Community language to the ECB at the following address:

European Central Bank

Secretariat Division

Kaiserstrasse 29

D-60311 Frankfurt am Main

Germany

Fax: +49 69 1344 6170

E-mail: ecb.secretariat@ecb.int

or to the respective national central bank of the Eurosystem.

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