Legacy: Difference between revisions

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(Update for T2 replacing TARGET2.)
 
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'Legacy' refers to older systems, contracts or other arrangements, implemented before current systems, regulations or other market conditions, but still having a remaining life until their retirement or final maturity.
'Legacy' refers to older systems, contracts or other arrangements, implemented before current systems, regulations or other market conditions, but still having a remaining life until their retirement or final maturity.
:<span style="color:#4B0082">'''''Legacy RTGS systems'''''</span>
:"TARGET2 is run by the Eurosystem under the responsibility of the Governing Council of the ECB.
:The NCBs of France, Germany and Italy jointly provide the single technical infrastructure and operate it on behalf of the Eurosystem.
:All of the eurozone countries have migrated to TARGET2 and have chosen to close their legacy RTGS systems upon migration."
:''The Treasurer's Handbook, Payments and payment systems.''




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:''ACT Briefing Note, Transition to risk free rate benchmarks.''
:''ACT Briefing Note, Transition to risk free rate benchmarks.''
:LIBOR ended in September 2024.




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*[[TARGET2]]
*[[TARGET2]]
*[[Tough legacy]]
*[[Tough legacy]]
==Other resource==
*[https://www.bankofengland.co.uk/news/2024/october/the-end-of-libor The end of LIBOR - Press release - Bank of England - 1 October 2024]


[[Category:Financial_products_and_markets]]
[[Category:Financial_products_and_markets]]

Latest revision as of 20:36, 1 March 2025

'Legacy' refers to older systems, contracts or other arrangements, implemented before current systems, regulations or other market conditions, but still having a remaining life until their retirement or final maturity.


Legacy LIBOR contracts
"Legacy contracts are those [incorporating LIBOR] that do not mature until after the [cessation of LIBOR]
Depending on the financial product under consideration (loan, derivative etc), the precise response to the disappearance of LIBOR will vary."
ACT Briefing Note, Transition to risk free rate benchmarks.


LIBOR ended in September 2024.


See also


Other resource

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