GBIC-response to the ECB consultation on the possible extension of T2 operating hours

The German Banking Industry Committee (GBIC) highly welcomes the ECB’s initiative to explore possible extensions of TARGET2 operating hours. Keeping abreast with market developments such as instant payments is key for the financial industry, their clients and the single currency. The broad scope of the consultation has led to numerous discussions within the Banking Industry. This underlines the complexity and far-reaching implications of the extension of the TARGET2 operating hours. Thus, the current consultation should be understood to be the start of a structured and constructive dialogue between the Eurosystem and the banking industry.