Other infrastructures and service providers

TARGET2-Securities (T2S) is a pan-European common platform of EU CSDs for securities settlement operated by the Eurosystem. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides messaging services to financial institutions and market infrastructures. 

Oversight of TARGET2-Securities

TARGET2-Securities (T2S) provides settlement services to many euro area and non-euro area CSDs. The Eurosystem has set up the T2S Cooperative Arrangement to ensure that all authorities with a legitimate interest in the smooth functioning of T2S are involved, including the overseers of CSDs.

Objectives, scope and practical organisation of the oversight of T2S

Oversight of SWIFT

A large number of systemically important systems depend on SWIFT for their daily messaging. As a critical service provider to these systems, SWIFT itself is of systemic importance.

As lead overseer, the Bank conducts the oversight of SWIFT in cooperation with other central banks.

Objectives, scope and practical organisation of the oversight of SWIFT