Khusnitdinov P.Z.

Role of Infrastructure Projects of European Central Bank in Development of Financial Integration in EU

Infrastructure projects of ECB are some of the key levers in developing financial integration in EU. These projects comprise existing system TARGET2 and systems T2S и CCBM2 that are to be launched in 2013. Each of them ensures the single platform for conducting the main financial operations: uncovered and pledge interbank operations, as well as cross-boarder movement of securities. Due to single requirements and cost structure, the price for conducting trans-boarder financial operations should decrease to the intra- country level, which will minimize the distortion of the price for similar financial products in different EU-members and thus will lead to deeper financial integration.