The ECB at Sibos 2019

When, where

23 September to 26 September 2019
London, England


Agenda

Sessions hosted by the ECB

Monday, 23 September, 12:15-13:00 – Conference room 2

The future started yesterday – get ready for Europe’s new RTGS system

The way in which European banks access settlement services in central bank money is going to change. In November 2021 the Eurosystem will launch its new real-time gross settlement (RTGS) service, which will replace the existing TARGET2 system. How will this affect TARGET2 participants? And why is it important for the banking community to start preparing now?

Speakers:

  • Ulrich Bindseil, European Central Bank
  • Dimitri Pattyn, European Central Bank
  • Petra Hielkema, De Nederlandsche Bank
  • Christian Westerhaus, Deutsche Bank

Thursday, 26 September, 14:00-14:30 – Open theatre 1

European Central Bank: Instant payments as a driver for innovation across Europe

Technological innovation and evolving user needs are reshaping the payments landscape. Solutions such as the SEPA Instant Credit Transfer scheme (SCT Inst), as well as payment services like the TARGET Instant Payment Settlement (TIPS), aim to facilitate future efforts towards increasing the efficiency of the European payments market. Pan-European solutions based on instant payments are a chance for Europe to strengthen its role in payment innovation, thereby benefiting all EU citizens and businesses. But how do we ensure that common solutions are introduced across the whole of Europe?

Speakers:

  • Dirk Bullmann, European Central Bank
  • Mark Buitenhek, ING
  • Fabrice Denèle, BPCE Group

Sessions with ECB speakers

Monday, 23 September, 09:30-10:30 – Conference room 1

Payments transformation in Europe

In this session our panel of experts from banks and market infrastructures will explore how market participants can approach these major projects. What benefits does ISO 20022 offer and what business opportunities can it unlock? Are instant payments part of that implementation? Are technologies such as APIs an enabler for developing more data-rich and value-added services for your customers? We will ask our panel what other trends and developments they envisage in the payment industry in the years to come.

Speakers:

  • Hays Littlejohn , EBA Clearing
  • Scott McInnes, Bird & Bird
  • Stephan Mueller, Commerzbank AG
  • Pierre Antoine Vacheron, Natixis Payments
  • Fiona van Echelpoel, European Central Bank

Monday, 23 September, 14:00-14:45 – SWIFT room 1

ISO 20022 migration: Everything you need to know

The community has spoken! The language of worldwide payments and reporting are about to change. As the community transitions from MT to ISO 20022, it will require intensive preparation. Financial institutions that adopt early will be best prepared to do business with and on behalf of their customers and counterparties as we move to ISO 20022. In this session, you will hear what is changing, when and why this is taking place, and how SWIFT will help you navigate this transition.

Speakers:

  • Jonh Jackson, Bank of England
  • Jim McDade, The Clearing House
  • Dimitri Pattyn, European Central Bank
  • Isabel Schmidt, BNY Mellon (Moderator)
  • Frank Van Driessche, Federal Reserve of New York

Monday, 23 September, 16:15-16:45 – SWIFT theatre

SWIFT gpi instant payments: Making instant cross-border payments a reality

Last year at Sibos in Sydney, we showed how real-time cross-border payments could be unlocked by connecting SWIFT gpi with domestic real-time systems. The results were impressive, with settlement times of less than 60 seconds, and corporates and retail clients sending and receiving cross-border payments in real-time. Since then, other banks and market infrastructures have been tapping into this possibility, bringing the experience of cross-border payments more into line with their domestic counterparts. Join this session to find out more and hear first-hand from gpi banks and infrastructure providers on how they are already benefitting from instant payments powered by gpi.

Speakers:


Tuesday, 24 September, 10:00-10:45 – Conference room 2

Preparing for European payments market infrastructure change – what, when and how?

With major changes to Europe’s payments market infrastructures now time-tabled, financial institutions are facing significant strategic and operational impact on their payment businesses. Both the Eurosystem and EBA CLEARING are modernising their infrastructure and migrating their TARGET2 and EURO1 high value payments services to the ISO 20022 standard. Timed to coincide with these migrations, the global financial community has decided to start migrating cross-border MT payments to ISO 20022 starting in November 2021. SWIFT is committed to helping its customers and the market manage all of these changes successfully. Join this session to get an update on TARGET consolidation from the European Central Bank and to find out about the products and services that SWIFT is developing to make your life easier.

Speakers:

  • Karen Birkel, European Central Bank
  • Stefano Favale, Intesa Sanpaolo
  • Thomas Ramadan, SWIFT
  • Isabelle Olivier, SWIFT (Moderator)

Wednesday, 25 September, 15:15-16:00 – Conference room 3

Real time cross border payments in Europe - from vision to reality

Since its launch in 2017, SWIFT gpi has dramatically transformed cross-border payments, ensuring that, on average, 40% of SWIFT gpi payments are credited to end beneficiaries within five minutes. However, when the final legs of a cross-border payment need to be cleared within the domestic payments system of the beneficiary bank, payments are sometimes delayed due to the limited operating hours of local systems. With the advent of real-time, 24/7 payment these frictions can be removed, ensuring that payments can be credited in seconds. In May 2019, the European Central Bank (ECB) and SWIFT launched an initiative to leverage the 24/7 availability of central bank money settlement offered via the TIPS system, allowing for instant crediting of accounts at ultimate beneficiary banks across Europe. 20 banks have taken place in this trial, which has yielded impressive results. In this session, we will share the outcomes of the gpi-TIPS trial, hear from the ECB and the banks that participated, and run through the steps that are being taken to take this initiative from trial to reality.

Speakers:

  • Rom Callaert, SWIFT
  • Christof Hofmann, Deutsche Bank
  • François Liget, Natixis
  • Serge Munten, Banque Internationalle à Luxembourg
  • Isabelle Olivier, SWIFT (Moderator)
  • Ignacio Terol, European Central Bank
  • Raouf Soussi, BBVA

Wednesday, 25 September, 16:30-18:00 – Stand G101

Reception at the ECB stand