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MNI BRIEF: Danish National Bank Applies For Target2 Membership

LONDON (MNI)

Denmark's national bank has applied to join the European Central Bank's T2 payment system, the Eurosystem's real-time gross settlement system (RTGS), both central banks announced Tuesday, with an aim for the Danish krone to be included by 2025.

Danmarks Nationalbank has "also expressed interest in joining TARGET Instant Payment Settlement (TIPS)" within the same time frame, the ECB said.

According to the ECB, the move will allow "Danish banks and providers of payment services to settle payments in both currencies within seconds".

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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