ICC and Legacy: Difference between pages
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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. | |||
:<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.'' | |||
:<span style="color:#4B0082">'''''Legacy LIBOR contracts'''''</span> | |||
:"Legacy contracts are those that do not mature until after the end of 2021. | |||
: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.'' | |||
==See also== | |||
* [[European Central Bank]] (ECB) | |||
*[[Eurosystem]] | |||
*[[Eurozone]] | |||
*[[Fallback]] | |||
*[[LIBOR]] | |||
* [[Migration]] | |||
*[[NCB]] | |||
*[[Payments and payment systems]] | |||
* [[Real-time gross settlement system]] (RTGS) | |||
*[[Risk-free rates]] | |||
* [[T2]] | |||
*[[TARGET2]] | |||
*[[Tough legacy]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Technology]] | |||
Revision as of 01:47, 3 April 2023
'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 RTGS systems
- "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.
- Legacy LIBOR contracts
- "Legacy contracts are those that do not mature until after the end of 2021.
- 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.
