Despite the Bank of England’s reticence to participate in the European Central Bank’s (ECB) Target2-Securities (T2S) settlement system, Gertrude Tumpel-Gugerell, a member of the ECB’s executive board, is convinced that the UK central bank will sign up eventually. She explained that the ECB is currently in talks with the Bank of England to find a solution to the concerns it raised last month about joining what it believes to be a euro focused settlement system.

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