In response to requests from the Council of the European Union and from the European Parliament, the ECB has issued an opinion on a proposal for a regulation on improving securities settlement in the European Union and on central securities depositories (CSDs) and amending Directive 98/26/EC.

The opinion includes coverage of (i) the scope of the regulation; (ii) co-operation between authorities; (iii) macro prudential oversight; (iv) central bank money settlement and (v) consistency with global standards for CSD’s.