Central securities depository (CSD)

The evolving role of central bank money in payments

The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol

Custody initiative: Euroclear

The securities depository has debuted instant dollar settlement in central bank money outside the US – a service that has virtually eliminated settlement risk

ECB welcomes ‘smooth’ T2S launch

Culmination of seven-year process sees first four CSDs migrate to the new platform and settle the first transactions, despite fears over remaining bugs

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