07/12/2017 (Agence Europe) – On Wednesday 6 December, the Governing Council of the European Central Bank (ECB) decided to consolidate and update its real-time gross settlement system, TARGET2, and its euro securities settlement platform, TARGET2-Securities, both of which became operational in June 2015 (see EUROPE 11340). The new consolidated system is scheduled for launch in November 2021 and will provide market players with improved liquidity management procedures, the monetary institute announced in a press release. It also announced the development of a new euro system collateral management system, bringing together the 19 national systems in a single harmonised platform, to be launched in November 2022. Responsibility for the operational management of these two projects has been entrusted to the German, French, Spanish and Italian central banks. (MF)