ECB: Publishes action plan
- ECB has published an action plan to address the recommendations of an independent review mandated
- The action plan also addresses recommendations issued by the Eurosystem oversight function
- In December 2020 company appointed Deloitte to conduct an independent review of the five major IT-related incidents
- In July 2021 the company published the results of Deloitte’s review and the Eurosystem’s response
- The measures will benefit all TARGET services, including TARGET Instant Payment Settlement (TIPS)
- Eurosystem will implement majority of measures by end of 2022
