Participants at a LFMA event on 13 June confirmed that the transition to ESTR will create significant operational- and treasury-related challenges, and agreed that a thorough preparation phase would be necessary to ensure a successful transition. However, the transition will not only have to be properly prepared from a technical point of view, as the budgeting considerations relevant for the transition are of the utmost importance as well. The Commission has also been informed by the European Central Bank (ECB) about its plans for implementing the ESM in the context of the new banking union.
Participants at a LFMA event on 13 June confirmed that the transition to ESTR will create significant operational- and treasury-related challenges, and agreed that a thorough preparation phase would be necessary to ensure a successful transition. The Commission has also been informed by the European Central Bank (ECB) about its plans for implementing the ESM in the context of the new banking union.