Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 29 AUGUST 2025

Eurosystem Launches ECMS

PwC Legal Germany
Explore more from PwC Legal Germany

On 17 June 2025, the European Central Bank (ECB) published a press releaseShow Footnote confirming the successful launch of the Eurosystem Collateral Management System...

FranceFinance and Banking
Michael Huertas
Michael Huertas
Author LinkedIn connections

QuickTake

On 17 June 2025, the European Central Bank (ECB) published a press release1 confirming the successful launch of the Eurosystem Collateral Management System (ECMS) on 16 June 2025, following a seamless migration over the weekend of 13–15 June. The ECMS now stands as the fourth TARGET Service, furthering the Eurosystem's strategic objective of establishing a unified, efficient, and innovative financial infrastructure within Europe.

The ECMS is designed to manage assets provided as collateral in Eurosystem credit operations. By replacing the 20 distinct collateral management systems previously operated by the national central banks of the euro area, the ECMS delivers a harmonised and centralised solution. This integration is expected to enhance operational efficiency, reduce fragmentation, and support the free movement of cash, securities, and collateral throughout the euro area, in conjunction with the other TARGET Services.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

EU Market Integration And Supervision Package

The EU Market Integration and Supervision Package represents a comprehensive overhaul of European financial services regulation, amending 19 separate pieces of legislation including MiFIR, MiFID II, EMIR, and MiCAR. Born from the 2024 Draghi Report and 2025 Competitiveness Compass, this sweeping reform seeks to address regulatory fragmentation across Member States while fostering deeper capital market integration and broader retail investor participation.
European UnionFinance and Banking
A&O Shearman
A&O Shearman
Article

France’s Rearmament Plan May Hinge On Private Capital

France's updated military programming law adds €36 billion to defence spending through 2030, creating significant investment opportunities in munitions, drones, space, AI, and electronic warfare systems. However, US and non-EU investors face complex regulatory hurdles including French foreign investment screening, European eligibility requirements, export controls, and ITAR-free design mandates that fundamentally reshape how transatlantic defence investments must be structured.
GlobalFinance and Banking
Goodwin Procter LLP
Goodwin Procter LLP
Article

HERALD: Banking and Finance Newsletter

This comprehensive update examines recent European and French regulatory developments in banking supervision, consumer credit protection, and financial markets, including the EBA's revised SREP Guidelines, France's transposition of CRD6, and significant reforms to payment procedures and consumer protection mechanisms. The analysis covers new prudential requirements for ESG risk management, enhanced authentication obligations for payment transactions, and legislative changes affecting tax credits for green i
FranceFinance and Banking
GGI | Global Alliance
GGI | Global Alliance