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On 15/06/2012 the Governing Council of the ECB has decided to discontinue the preparations for the CCBM2 project in its current form.
In the project detailing phase, a number of challenges in the field of harmonisation were identified and the Eurosystem has decided to address these issues first before proceeding further with a common technical platform.
The existing Correspondent Central Banking Model (CCBM) for cross-border collateral management remains in place.
See the corresponding press release
On 8 March 2007, the Governing Council of the ECB decided to review the current Eurosystem collateral management handling procedures, in particular, the Correspondent Central Banking Model (CCBM). It was decided to develop a single platform, allowing the Eurosystem to manage collateral both for domestic and cross-border operations based on the existing systems such as that of the Nationale Bank van België/Banque Nationale de Belgique and De Nederlandsche Bank. Work was supposed to de conducted in parallel with the TARGET2-Securities (T2S) project in order to exploit all possible synergies and avoid any overlap.
