The Collateral Central Bank Management Project (CCBM2) - a single plaform for Eurosystem in managing collateral for domestic and cross-border operations

On the 17 July 2008, the European Central Bank decided to launch the CCBM2 (Collateral Central Bank Management) project. CCBM 2 is a medium term project for the next generation of collateral management which is used by the Eurosystem National Central Bank’s on a voluntary basis. The Governing Council of the European Central Bank (ECB) also assigned the development and operation of CCBM2 to the Nationale Bank van België/Banque Nationale de Belgique and De Nederlandsche Bank with the view for exploit all possible synergies and avoid any overlap between CCBM 2 and TARGET 2 Securities (T2S). The primary objective of the CCBM2 project is to consolidate and to increase the efficiency of the Eurosystem’s internal system for collateral management. The Eurosystem will maintain an open dialogue with market participants throughout the subsequent phases of the CCBM2 project.