On 27 January 2010, the European Central Bank published the winter edition of its T2S OnLine Quarterly Review.

The Review contained an editorial article by Jean-Michel Godeffroy (Chairman of the T2S Programme Board) in which he discussed the progress on the TARGET2-Securities (T2S) programme and why it had been slower than expected.

The Review also included:

  • A T2S project update, including a brief discussion of upcoming deliverables.
  • An interview with Guido Ravoet (Secretary General of the European Banking Federation) in which he gave his assessment of the T2S project and whether the governance of the project had worked well.
  • An interview with Johannes Luef (President and CEO of VP Securities A/S) in which he discussed the challenges and opportunities of the T2S programme from the perspective of a central securities depository.
  • An update from Marc Bayle (T2S programme manager) on the T2S framework agreement which will be put in place in the next few months.
  • A brief review of the 4CB Organisation, a dedicated organisation for the T2S project.

View T2S OnLine Quarterly Review (No 3),  27 January 2010