The official site of Italy's central bank

Electronic transfer of securities

Euro system funding transactions for monetary policy or payment system (daily liquidity) purposes must be supported by suitable collateral that operators can provide using specific computerised services.

In view of enhanced integration among European securities settlement systems, the European Central Bank and the national central banks set up, from 1 January 1999, the Correspondent Central Banking Model – CCBM procedure, in order to allow agents to use suitable securities, regardless of where they are deposited within the European System of Central Banks (ESCB), for monetary policy and same-day security financing operations.

In March 2007, the ECB Governing Council decided to set up a single European platform for the management of collateral (1).

This section presents the legal, functional and technical features of the computerised security mobilisation service for the provision of guarantees in transactions with the Bank of Italy.

• (1) CCBM2