TARGET 2 and Settlement Finality
TARGET 2 and Settlement Finality
Author(s): Ivan MangatchevSubject(s): Law, Constitution, Jurisprudence
Published by: Editura Universitară Danubius
Keywords: TARGET 2; settlement; settlement finality; Directive 98/26 EC; Directive 2009/44 EC
Summary/Abstract: This article examines how TARGET 2 as system implements the idea of settlement finality regulated by Directive 98/26 EC of the European parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (Settlement Finality Directive) and Directive 2009/44/EC of the European parliament and of the Council of 6 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims (Directive 2009/44/EC). As the title of the article states two points are the cornerstones – TARGET 2 and finality of the settlement in this system.
Journal: Acta Universitatis Danubius. Juridica
- Issue Year: 7/2011
- Issue No: 1
- Page Range: 92-99
- Page Count: 8
- Language: English