Governing Council sets up T2S Programme Board

On 19 March 2009 the Governing Council of the European Central Bank (ECB) decided to establish a T2S Programme Board, which will assist the ECB’s decision-making bodies in ensuring the successful and timely completion of the Target2-Securities (T2S) programme in 2013.

The T2S Programme Board will execute tasks assigned to it by the Governing Council. It will comprise eight members, including nominees from central banks participating in the T2S project, independent members with expertise in the field of securities settlement and a senior ECB manager who will be acting as the chairperson. All members will be appointed by the Governing Council on 23 April 2009. The T2S Programme Board will commence work as of mid-May 2009.

The ECB’s Decision on the establishment of the T2S Programme Board will be published in the Official Journal of the European Union in due course.

Further information about the T2S project can be found on the ECB’s website.