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Call for market representatives to join the new TIPS Contact Group

The TARGET instant payment settlement (TIPS) project, which has been endorsed by the Governing Council of the ECB, is moving into the development phase. TIPS will provide banks with a service that will allow European citizens and businesses to make payments in euro around the clock which will be processed within seconds.

Committed to working closely with the market in delivering TIPS, the ECB is setting up a new contact group. According to the mandate of the TIPS Contact Group, it will have a limited number of members to allow for active discussions and contributions. Its composition will aim to reflect the diversity of stakeholders in terms of geographical location, institution size and business model.

Stakeholders are invited to follow the application instructions in order to nominate their representative within the TIPS Contact Group by 1 September 2017.