Customer related support on the T2S cash (and collateral) side looking at the Deutsche Bundesbank

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1 INFORMATION EVENT FOR FUTURE DCA HOLDERS: EURO LIQUIDITY MANGEMENT IN VIEW OF T2S Frankfurt, 16 December 2013 TO 5 Operational Framework for the cash side Customer related support on the T2S cash (and collateral) side looking at the Deutsche Bundesbank Deutsche Bundesbank Deputy head of division Strategy and policy - payments and clearing systems

related support on the T2S cash (and collateral) side looking at the Deutsche

2 Agenda 1. Overview 2. Business Relationship Management 3. Day-to-day Operations Integrated approach for T2S (cash and collateral) and TARGET2 National service desk / Local service function 4. Migration to T2S (cash side): Dedicated support structure Page 2

collateral) and TARGET2 National service desk / Local service

3 Overview Business Relationship Management means strategic, political and business related support Day-to-day operations means processing, operations TARGET2 services Intraday credit T2S cash services T2S auto collateralisation Page 3

operations means processing, operations TARGET2 services

4 Business Relationship Management Two National User Groups (NUGs) T2S NUG T2S securities side TARGET2 NUG Payments Ancillary System Settlement Intraday credit T2S cash side Auto collateralisation Bilateral contacts Provision information by own website, information letters, contribution in newsletter Page 4

credit T2S cash side Auto collateralisation Bilateral contacts Provision

5 Agenda 1. Overview 2. Business Relationship Management 3. Day-to-day Operations Integrated approach for T2S (cash and collateral) and TARGET2 National service desk / Local service function 4. Migration to T2S (cash side): Dedicated support structure Page 5

6 Integrated approach for T2S (cash /collateral) and TARGET2 TARGET2 DCAs T2S Intraday credit Autocollateralisation Collateral Management DCAs belong legally and operationally to TARGET2 Local collateral management systems are owned/managed by the NCBs Page 6

Collateral Management DCAs belong legally and operationally to

7 National Service Desk / Local service function Responsibilities (I) Support for banks participating via TARGET2-BBk or having a DCA in the books of Bundesbank Number of participants in TARGET2-BBk 646 direct participants, including o 13 CLS participants o 12 Euro1 participants 232 indirect participants 16,348 addressable BICs About 200 DCAs expected 825 HAM accounts 5 Group of Accounts 3 Consolidated information 2 Virtual accounts Page 7

participants, including o 13 CLS participants o 12 Euro1 participants 232 indirect participants 16,348

8 National Service Desk / Local service function Responsibilities (II) Monitoring of payments and liquidity transfers with regard to proper and timely processing Monitoring of ancillary system settlement 5 Ancillary systems Clearstream Banking Frankfurt o 154 settlement banks ECC (Clearing house) o 22 settlement banks EUREX (Clearing house) o 151 settlement banks RPS (Retail payment system) o 202 settlement banks SEPA-Clearer (Retail payment system) o 161 settlement banks Monitoring of T2S processing Page 8

154 settlement banks ECC (Clearing house) o 22 settlement banks EUREX (Clearing house) o 151 settlement banks RPS (Retail

9 National Service Desk / Local service function Responsibilities (III) Taken care and capturing static data Invoicing and booking of fees by charging PM and HAM account holders Contingency measures Coordination of test and training activities Page 9

Invoicing and booking of fees by charging PM and HAM account

10 National Service Desk / Local service function Locations and shifts Two locations Frankfurt Duesseldorf Two shifts Early shift from 5:45 Late shift ends 19:45 Handover from early to late shift via video conference at 13:00 Shifts change on a weekly basis (one week Frankfurt early shift and Duesseldorf late shift, the week after vice versa) Page 10

from early to late shift via video conference at 13:00 Shifts change on a weekly basis

11 National Service Desk / Local service function Availability Team on-site 6:00 until 19:45 (standing orders have to be carried out) in addition T2/T2S settlement manager Until 20:30 on call Until 6:00 contactable T2/T2S crisis manager 7:00 until 18:00 on site 18:00 until 7:00 on call Page 11

T2/T2S settlement manager Until 20:30 on call Until 6:00 contactable

12 National Service Desk / Local service function Staff members Number of employees for TARGET2 and in future T2S at the location Frankfurt and Duesseldorf: 20 In future: additional persons especially for T2S in Frankfurt The National Service Desk/ local service function is not the only team working at two sites with the Bundesbank. All system critical teams Collateral management Open market operations work in the locations in Frankfurt and Duesseldorf Page 12

National Service Desk/ local service function is not the only team working at two sites with the Bundesbank.

13 National Service Desk / Local service function Training Information meetings provided by internal staff members for different areas of T2S (eg account structure, liquidity management, testing and migration) Partipation in Eurosystem T2S Groups OMG Migration Sub Group User Testing Sub Group Participation in Training Sessions (and Webinars) offered by the Eurosystem, in addition the Bundesbank will ask for a customised training First those persons which will responsible for testing Page 13

Groups OMG Migration Sub Group User Testing Sub Group Participation in Training Sessions (and Webinars) offered by the

14 Agenda 1. Overview 2. Business Relationship Management 3. Day-to-day Operations Integrated approach for T2S (cash and collateral) and TARGET2 National service desk / Local service function 4. Migration to T2S (cash side): Dedicated support structure Page 14

15 Migration to T2S (cash side): Dedicated support structure (I) Migration divided into phases Information and decision-making phase 2013 Training phase 2014/2015 Support phase Offered information meetings T2S Overview o in German and English language T2S Testen und Migration T2S Auto-Collateralisation T2S Liquidity Management (24 January 2014) Sept (expected) CBF migration to T2S Page 15

information meetings T2S Overview o in German and English language T2S Testen und Migration T2S

16 Migration to T2S (cash side): Dedicated support structure (II) In future structured support according to the business needs of the banks Participation in wave 1, 2, 3 or 4? Directly connected DCA holder or indirectly connected DCA holder? Using A2A or U2A? Need for transparency Banks migrating in wave 1, which want to have a DCA opened by the Bundesbank and which want to become Directly Connected DCA holder use A2A, have to provide their binding feedback by 14 February 2014 become an ICP have to provide their binding feedback by 20 June 2014 Page 16

Need for transparency Banks migrating in wave 1, which want to have a DCA opened by the Bundesbank and which want to become Directly

17 Migration to T2S (cash side): Dedicated support structure (III) Training areas provided by the Bundesbank for future DCA holders Fundamentals Liquidity management Auto-Collateralisation (incl. client-collateralisation) Testing and migration Operational aspects T2S GUI Page 16

Fundamentals Liquidity management Auto-Collateralisation (incl.

18 Many thanks for your attention!

Information event for future DCA holders: Euro liquidity management. Introduction T2S: technical challenges and opportunities for liquidity

DEUTSCHE BUNDESBANK Frankfurt, 16 December 2013 Jochen Metzger Head of the department Payments and settlement systems Information event for future DCA holders: Euro liquidity management in view of T2S