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belånbare omsættelige aktiver"></a><ul><li class="clearfix"><a href="/mopo/coll/assets/guide/html/index.da.html">Brugervejledning</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/coll/html/index.da.html">Mobilisering af sikkerhedsstillelse</a><a href="#" class="subpages" title="toggle subpages for Mobilisering af sikkerhedsstillelse"></a><ul><li class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.da.html">CCBM</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.da.html">Godkendte værdipapirafviklingssystemer</a></li><li class="clearfix"><a href="/mopo/coll/coll/ssslinks/html/index.da.html">Godkendte link</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.da.html">Godkendte trepartsagenter</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.da.html">Risikoreduktion</a><a href="#" class="subpages" title="toggle subpages for Risikoreduktion"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.da.html">Eksterne kreditvurderingsbureauer</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.da.html">Risikokontrol</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.da.html">Haircutkategorier</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.da.html">Værdiansættelse</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.da.html">Initivativet på enkeltlånsniveau</a><a href="#" class="subpages" title="toggle subpages for Initivativet på enkeltlånsniveau"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.da.html">Dataskabeloner</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.da.html">Godkendelseskrav</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.da.html">Kontaktpersoner</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.da.html">Nuværende økonomiske forhold</a><a href="#" class="subpages" title="toggle subpages for Nuværende økonomiske forhold"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.da.html">Økonomisk politik</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.da.html">Finanspolitik</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.da.html">Udenrigshandel</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.da.html">Effektive valutakurser</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.da.html">Finansiel struktur</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.da.html">Finansielle markeder</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.da.html">Finansielle formidlere</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.da.html">Økonomisk diversitet</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.da.html">Arbejdsmarkedet</a></li></ul></li><li class="has-subpages -section"><a href="/mopo/market-contact-groups/html/index.da.html">Markedskontaktgrupper</a><a href="#" class="subpages" title="toggle subpages for Markedskontaktgrupper"></a><ul><li class="clearfix"><a href="/mopo/market-contact-groups/bmcg/html/index.da.html">Bond Market (BMCG)</a></li><li class="clearfix -current"><a href="/mopo/market-contact-groups/mmcg/html/index.da.html">Money Market (MMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/dimcg/html/index.da.html">Debt Issuance Market Contact Group (DIMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/omg/html/index.da.html">ECB Operations Managers Group (ECB OMG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/fxcg/html/index.da.html">Foreign Exchange (FXCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/iid/html/index.da.html">Institutional Investor Dialogue (IID)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/paym/html/index.da.html">Betalinger & finansiel stabilitet</a><a href="#" class="subpages" title="toggle subpages for Betalinger & finansiel stabilitet"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Betalinger og finansiel stabilitet</div> <p>Nærmere om, hvordan vi arbejder med finansiel stabilitet og betalingsinfrastruktur</p><a href="/paym/html/index.en.html">Overblik over betalinger og finansiel stabilitet</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">En digital euro</a></li> <li><a href="/press/intro/html/index.en.html">Betalingsnyheder</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">Target – dokumenter og link for fagfolk</a></li> </ul> </div><a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Seneste Financial Stability Review</div> <div class="image-date">16. maj 2024</div></a></div></div><ul><li class="clearfix"><span>Betalinger</span></li><li class="has-subpages"><a href="/paym/target/html/index.da.html">Target Services</a><a href="#" class="subpages" title="toggle subpages for Target Services"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.da.html">Fælles funktioner</a></li><li class="has-subpages"><a href="/paym/target/t2/html/index.da.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.da.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.da.html">Governance</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.da.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.da.html">Governance</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.da.html">Fakta og tal</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.da.html">Prisfastsættelse</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.da.html">TIPS</a><a href="#" class="subpages" title="toggle subpages for TIPS"></a><ul><li class="clearfix"><a href="/paym/target/tips/governance/html/index.da.html">Governance</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.da.html">Fakta og tal</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.da.html">Tilslutning</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.da.html">ECMS</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.da.html">Target-dokumenter & -link til fagfolk</a><a href="#" class="subpages" title="toggle subpages for Target-dokumenter & -link til fagfolk"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.da.html">Til professionel brug</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.da.html">T2-dokumenter & -link</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.da.html">Beregnet for fagfolk</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.da.html">Beregnet for fagfolk</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.da.html">Beregnet for fagfolk</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.da.html">Integration og innovation</a><a href="#" class="subpages" title="toggle subpages for Integration og innovation"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.da.html">Distributed ledger-teknologier</a><a href="#" class="subpages" title="toggle subpages for Distributed ledger-teknologier"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.da.html">Forskningsarbejde</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.da.html">Detailbetalinger</a><a href="#" class="subpages" title="toggle subpages for Detailbetalinger"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.da.html">Strategi for detailbetalinger</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.da.html">ECB som katalysator</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.da.html">SEPA</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.da.html">Straksbetalinger</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.da.html">Harmonisering af forvaltningen af sikkerhed</a><a href="#" class="subpages" title="toggle subpages for Harmonisering af forvaltningen af sikkerhed"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.da.html">Gennemførelse</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.da.html">Cyberrobusthed</a><a href="#" class="subpages" title="toggle subpages for Cyberrobusthed"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.da.html">Finansielle markedsinfrastrukturer</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.da.html">TIBER-EU</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.da.html">Overvågning</a><a href="#" class="subpages" title="toggle subpages for Overvågning"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.da.html">Betalingssystemer</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.da.html">Target2-Securities</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.da.html">Elektroniske betalinger</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.da.html">Værdipapirafviklingssystemer og centrale modparter</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.da.html">Kritiske serviceleverandører</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.da.html">Korrespondentbanker og depotbanker</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.da.html">Forummet SecuRe Pay</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.da.html">Tjenesteydelser vedrørende forvaltning af valutareserver</a><a href="#" class="subpages" title="toggle subpages for Tjenesteydelser vedrørende forvaltning af valutareserver"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.da.html">Vigtige aspekter</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.da.html">Udbud af tjenester</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.da.html">Kontanthåndterere</a><a href="#" class="subpages" title="toggle subpages for Kontanthåndterere"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.da.html">Kontanthåndtering</a><a href="#" class="subpages" title="toggle subpages for Kontanthåndtering"></a><ul><li class="clearfix"><a href="/paym/cashprof/cashhand/devices/html/index.da.html">Udstyr til ægthedskontrol af pengesedler</a></li><li class="clearfix"><a href="/paym/cashprof/cashhand/recycling/html/index.da.html">Recirkulering af pengesedler</a></li></ul></li><li class="clearfix"><a href="/paym/cashprof/cdispec/html/index.da.html">CDI-specifikationer</a></li><li class="clearfix"><a href="/paym/cashprof/accreditation/html/index.da.html">Godkendelse af seddelproducenter</a></li></ul></li><li class="has-subpages"><a href="/paym/groups/html/index.da.html">Markedskontaktgrupper</a><a href="#" class="subpages" title="toggle subpages for Markedskontaktgrupper"></a><ul><li class="clearfix"><a href="/paym/groups/ami/html/index.da.html">Rådgivende grupper om markedsinfrastrukturer</a></li><li class="clearfix"><a href="/paym/groups/euro-cyber-board/html/index.da.html">Euro Cyber Resilience Board</a></li><li class="clearfix"><a href="/paym/groups/erpb/html/index.da.html">Euro Retail Payments Board (ERPB)</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.da.html">European Forum for Innovation in Payments (EFIP)</a></li></ul></li><li class="clearfix"><span>Finansiel stabilitet</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.da.html">Finansiel stabilitet</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.da.html">Makroprudentielle tiltag</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.da.html">Kontaktgrupper vedrørende finansiel stabilitet</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/stats/html/index.da.html">Statistik</a><a href="#" class="subpages" title="toggle subpages for Statistik"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Statistik</div> <p>Adgang til al ECB-statistik og baggrundsoplysninger</p><a href="/stats/html/index.en.html">Overblik over ECB's statistik</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures">Hovedtal</a></li> <li><a href="https://data.ecb.europa.eu/">ECB Data Portal</a></li> <li><a href="/stats/ecb_statistics/accessing-our-data/html/index.en.html">Alle datatjenester</a></li> </ul> </div><a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">ECB'S BLOG - Forbedrede data: klimaændringernes effekt på bankerne</div> <div class="image-date">18. april 2024</div></a></div></div><ul><li class="clearfix"><span>Hyppigt besøgt</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.da.html">Euro valutakurser</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.da.html">ECB's officielle renter</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.da.html">Den korte eurorente (€STR)</a><a href="#" class="subpages" title="toggle subpages for Den korte eurorente (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.da.html">Rentebenchmark</a><a href="#" class="subpages" title="toggle subpages for Rentebenchmark"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.da.html">Arbejdsgruppen om risikofrie eurorenter</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.da.html">Inflation</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.da.html">Euroområdets rentekurver</a></li><li class="clearfix"><span>Al statistik og baggrund</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.da.html">Al den vigtigste statistik</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.da.html">Få adgang til vores data</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.da.html">Hovedtræk</a><a href="#" class="subpages" title="toggle subpages for Hovedtræk"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.da.html">Governance og kvalitetsrammer</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.da.html">Samarbejde og standarder</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.da.html">Bankernes datarapportering</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.da.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.da.html">AnaCredit Q&A</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.da.html">Offentlige høringer</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.da.html">Banking Industry Dialogue om ESCB-statistik og integreret rapportering</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.da.html">SDMX - model til udveksling af statistiske data</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.da.html">INEXDA - granulært datanetværk</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.da.html">Euroen</a><a href="#" class="subpages" title="toggle subpages for Euroen"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Euroen</div> <p>Alt, hvad du har brug for at vide om den fælles valuta</p><a href="/euro/html/index.en.html">Overblik over euroen</a><hr> <div class="nav-title">Kviklink</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Kontanthåndterere</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Statistik over sedler og mønter</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Eurokursen</a></li> </ul> </div><a href="/euro/banknotes/future_banknotes/html/index.en.html" class="item image"> <img src="/euro/banknotes/future_banknotes/html/index/TwoThemes_Announcement_BOX_1000x750.png" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">To mulige temaer udvalgt til nye eurosedler</div> <div class="image-date">29. november 2023</div></a></div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.da.html">Digital euro</a><a href="#" class="subpages" title="toggle subpages for Digital euro"></a><ul><li class="has-subpages"><a href="/euro/digital_euro/features/html/index.da.html">Hvad er det?</a><a href="#" class="subpages" title="toggle subpages for Hvad er det?"></a><ul><li class="clearfix"><a href="/euro/digital_euro/features/privacy/html/index.da.html">Den digitale euro og privatliv</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/how-it-works/html/index.da.html">Sådan virker den</a></li><li class="clearfix"><a href="/euro/digital_euro/why-we-need-it/html/index.da.html">Derfor har vi brug for den</a></li><li class="clearfix"><a href="/euro/digital_euro/progress/html/index.da.html">Tidslinje og status</a></li><li class="has-subpages"><a href="/euro/digital_euro/timeline/html/index.da.html">Detaljerede oplysninger</a><a href="#" class="subpages" title="toggle subpages for Detaljerede oplysninger"></a><ul><li class="clearfix"><a href="/euro/digital_euro/timeline/stakeholder/html/index.da.html">Ledelse og interessenter</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/profuse/html/index.da.html">Tekniske dokumenter og forskning</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/rulebook/html/index.da.html">Regelsæt for projektet</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/faqs/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="clearfix"><span>Kontanter</span></li><li class="has-subpages"><a href="/euro/cash_strategy/html/index.da.html">Eurosystemets kontantstrategi</a><a href="#" class="subpages" title="toggle subpages for Eurosystemets kontantstrategi"></a><ul><li class="clearfix"><a href="/euro/cash_strategy/cash_role/html/index.da.html">Kontanters rolle</a></li><li class="clearfix"><a href="/euro/cash_strategy/issuance/html/index.da.html">Udstedelse og cirkulation</a></li><li class="clearfix"><a href="/euro/cash_strategy/acceptance-cash/html/index.da.html">Adgang til at hæve og betale med kontanter</a></li><li class="clearfix"><a href="/euro/cash_strategy/faqs/html/index.da.html">Ofte stillede spørgsmål</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/html/index.da.html">Eurosedler</a><a href="#" class="subpages" title="toggle subpages for Eurosedler"></a><ul><li class="has-subpages"><a href="/euro/banknotes/future_banknotes/html/index.da.html">Fremtidige eurosedler</a><a href="#" class="subpages" title="toggle subpages for Fremtidige eurosedler"></a><ul><li class="clearfix"><a href="/euro/banknotes/future_banknotes/redesign/html/index.da.html">Nydesign af eurosedlerne</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/current/html/index.da.html">Nuværende eurosedler</a><a href="#" class="subpages" title="toggle subpages for Nuværende eurosedler"></a><ul><li class="clearfix"><a href="/euro/banknotes/current/denominations/html/index.da.html">Seddelværdier</a></li><li class="clearfix"><a href="/euro/banknotes/current/design/html/index.da.html">Designelementer</a></li><li class="clearfix"><a href="/euro/banknotes/current/security/html/index.da.html">Sikkerhedselementer</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/ac/html/index.da.html">Beskyttelse mod forfalskning</a></li><li class="clearfix"><a href="/euro/banknotes/production/html/index.da.html">Seddelproduktion og lagre</a></li><li class="clearfix"><a href="/euro/banknotes/damaged/html/index.da.html">Beskadigede og blækplettede eurosedler</a></li><li class="has-subpages"><a href="/euro/banknotes/environmental/html/index.da.html">Miljø, sundhed og sikkerhed</a><a href="#" class="subpages" title="toggle subpages for Miljø, sundhed og sikkerhed"></a><ul><li class="clearfix"><a href="/euro/banknotes/environmental/pef/html/index.da.html">Produkters miljøaftryk</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/research/html/index.da.html">Forskning og udvikling</a></li><li class="clearfix"><a href="/euro/banknotes/images/html/index.da.html">Billeder og regler for gengivelse (Images and reproduction rules)</a></li><li class="clearfix"><a 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href="/euro/coins/common/html/index.da.html">Fælles side</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.da.html">2-euro-erindringsmønter</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.da.html">Sikkerhedselementer</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.da.html">Samlermønter</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.da.html">Overgang til eurosedler og -mønter</a><a href="#" class="subpages" title="toggle subpages for Overgang til eurosedler og -mønter"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.da.html">Kroatien (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.da.html">Litauen (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.da.html">Letland (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.da.html">Estland (2011)</a></li><li class="clearfix"><a href="/euro/changeover/slovakia/html/index.da.html">Slovakiet (2009)</a></li><li class="clearfix"><a href="/euro/changeover/cyprus/html/index.da.html">Cypern (2008)</a></li><li class="clearfix"><a href="/euro/changeover/malta/html/index.da.html">Malta (2008)</a></li><li class="clearfix"><a href="/euro/changeover/slovenia/html/index.da.html">Slovenien (2007)</a></li><li class="clearfix"><a href="/euro/changeover/2002/html/index.da.html">Den første overgang til eurosedler og -mønter i 2002</a></li></ul></li><li class="has-subpages"><a href="/euro/exchange/html/index.da.html">Omveksling af nationale sedler og mønter</a><a href="#" class="subpages" title="toggle subpages for Omveksling af nationale sedler og mønter"></a><ul><li class="clearfix"><a href="/euro/exchange/au/html/index.da.html">Østrig</a></li><li class="clearfix"><a href="/euro/exchange/be/html/index.da.html">Belgien</a></li><li class="clearfix"><a href="/euro/exchange/hr/html/index.da.html">Kroatien</a></li><li class="clearfix"><a href="/euro/exchange/cy/html/index.da.html">Cypern</a></li><li class="clearfix"><a href="/euro/exchange/et/html/index.da.html">Estland</a></li><li class="clearfix"><a href="/euro/exchange/fi/html/index.da.html">Finland</a></li><li class="clearfix"><a href="/euro/exchange/fr/html/index.da.html">Frankrig</a></li><li class="clearfix"><a href="/euro/exchange/de/html/index.da.html">Tyskland</a></li><li class="clearfix"><a href="/euro/exchange/gr/html/index.da.html">Grækenland</a></li><li class="clearfix"><a href="/euro/exchange/ir/html/index.da.html">Irland</a></li><li class="clearfix"><a href="/euro/exchange/it/html/index.da.html">Italien</a></li><li class="clearfix"><a href="/euro/exchange/lv/html/index.da.html">Letland</a></li><li class="clearfix"><a href="/euro/exchange/lt/html/index.da.html">Litauen</a></li><li class="clearfix"><a href="/euro/exchange/lu/html/index.da.html">Luxembourg</a></li><li class="clearfix"><a href="/euro/exchange/mt/html/index.da.html">Malta</a></li><li class="clearfix"><a href="/euro/exchange/nl/html/index.da.html">Holland</a></li><li class="clearfix"><a href="/euro/exchange/pt/html/index.da.html">Portugal</a></li><li class="clearfix"><a href="/euro/exchange/slovakia/html/index.da.html">Slovakiet</a></li><li class="clearfix"><a href="/euro/exchange/sl/html/index.da.html">Slovenien</a></li><li class="clearfix"><a href="/euro/exchange/es/html/index.da.html">Spanien</a></li></ul></li><li class="clearfix"><a href="/euro/visually/html/index.da.html">For blinde og svagsynede</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/pub/html/index.da.html">Forskning</a><a href="#" class="subpages" title="toggle subpages for Forskning"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Forskning</div> <p>Dybdegående undersøgelser og ekspertanalyser af forskellige emner og 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ramme</a></li></ul></li><li class="clearfix"><a href="/ecb/orga/tasks/euro/html/index.da.html">Pengesedler</a></li><li class="clearfix"><a href="/ecb/orga/tasks/paym/html/index.da.html">Betalinger og værdipapirer</a></li><li class="has-subpages"><a href="/ecb/orga/tasks/europe/html/index.da.html">Europæiske relationer</a><a href="#" class="subpages" title="toggle subpages for Europæiske relationer"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/europe/cooperation/html/index.da.html">Europæisk samarbejde</a></li><li class="clearfix"><a href="/ecb/orga/tasks/europe/emu/html/index.da.html">Økonomisk styring af ØMU'en</a></li></ul></li><li class="has-subpages"><a href="/ecb/orga/tasks/international/html/index.da.html">Internationale anliggender</a><a href="#" class="subpages" title="toggle subpages for Internationale anliggender"></a><ul><li class="clearfix"><a href="/ecb/orga/tasks/international/institutions/html/index.da.html">Internationale relationer og analyser</a></li><li 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viden</a></li><li class="has-subpages"><a href="/ecb-and-you/youth-initiatives/html/index.da.html">Initiativer med input fra de unge</a><a href="#" class="subpages" title="toggle subpages for Initiativer med input fra de unge"></a><ul><li class="clearfix"><a href="/ecb-and-you/youth-initiatives/girls_it_bootcamp/html/index.da.html">IT-bootcamp for piger</a></li></ul></li><li class="clearfix"><a href="/ecb-and-you/everyone-needs-stability/html/index.da.html">Alle har brug for stabilitet</a></li><li class="clearfix"><a href="/ecb-and-you/ecb_and_you/html/index.da.html">ECB og dig</a></li><li class="clearfix"><a href="/ecb-and-you/ask_us/html/index.da.html">Stil spørgsmål</a></li><li class="has-subpages"><a href="/ecb-and-you/visits/html/index.da.html">Besøg os</a><a href="#" class="subpages" title="toggle subpages for Besøg os"></a><ul><li class="clearfix"><a href="/ecb-and-you/visits/premises/html/index.da.html">ECB’s hovedsæde</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/careers/html/index.da.html">Karriere & Job</a><a href="#" class="subpages" title="toggle subpages for Karriere & Job"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">Karriere & Job</div> <hr> </div> </div></div><ul><li class="clearfix"><a href="/careers/all-about-careers/html/index.da.html">Alt om karrierer</a></li><li class="clearfix"><a href="/careers/vacancies/html/index.da.html">Ledige job</a></li><li class="has-subpages"><a href="/careers/working-at-the-ecb/html/index.da.html">Hvem er vi?</a><a href="#" class="subpages" title="toggle subpages for Hvem er vi?"></a><ul><li class="clearfix"><a href="/careers/working-at-the-ecb/about/html/index.da.html">Om ECB</a></li><li class="clearfix"><a href="/careers/working-at-the-ecb/employee-portraits/html/index.da.html">Mød nogle af vores medarbejdere</a></li><li class="clearfix"><a 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Kontrakttyper"></a><ul><li class="clearfix"><a href="/careers/what-we-offer/contract/fixed/html/index.da.html">Tidsbegrænsede</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/short/html/index.da.html">Kortvarige</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/escb/html/index.da.html">ESCB/IO</a></li><li class="clearfix"><a href="/careers/what-we-offer/contract/other/html/index.da.html">Andre</a></li></ul></li><li class="clearfix"><a href="/careers/what-we-offer/traineeship/html/index.da.html">Praktikantstillinger</a></li><li class="clearfix"><a href="/careers/what-we-offer/graduate/html/index.da.html">Graduate Programme</a></li><li class="clearfix"><a href="/careers/what-we-offer/wecs/html/index.da.html">Studielegat til kvinder inden for økonomi</a></li><li class="clearfix"><a href="/careers/what-we-offer/ukrainian-scholarship/html/index.da.html">ECB Scholarship for Ukrainian graduates</a></li></ul></li><li class="has-subpages"><a 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Hvad nu?</a><a href="#" class="subpages" title="toggle subpages for Du er blevet valgt. Hvad nu?"></a><ul><li class="clearfix"><a href="/careers/before-you-apply/newcomers/fixed-term/html/index.da.html">Medarbejdere med en tidsbegrænset kontrakt</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/short-term/html/index.da.html">Medarbejdere med en kortfristet kontrakt</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/trainee/html/index.da.html">Praktikanter</a></li><li class="clearfix"><a href="/careers/before-you-apply/newcomers/cost-free/html/index.da.html">Omkostningsfrie udstationerede</a></li></ul></li></ul></li><li class="clearfix"><a href="/careers/faq/html/index.da.html">Hyppigt stillede spørgsmål</a></li></ul></div></li></ul></div></nav> <div id="page-actions"> <div class="ecb-quickSearch" style="width:100%;"> <form role="search" method="get" style="width:100%;display:flex" onsubmit="return false"> <input type="text" name="search" class="addsearch" id="searchInput" maxlength="300" aria-label="Search" alt="Search" 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id="addsearch-sidemenu"> <div id="result-suggestions"><span>Forslag</span><div id="suggestions-container"> </div> </div> <div id="result-sortBy"><span>Sortér efter</span><div id="sortby-radio-container"> <div class="addsearch-sortby-radiogroup"> <label> <input id="sort-by-relevance" type="radio" name="sortby-radio-container" onclick="ECB.slow.addSearchApi.sortBy('relevance')" data-field="relevance" data-order="desc" value="" checked="">Relevans</label> <label> <input id="sort-by-date" type="radio" name="sortby-radio-container" onclick="ECB.slow.addSearchApi.sortBy('date')" data-field="date" data-order="desc" value="">Dato</label> </div> </div> </div> </div> <div id="addsearch-image-container"><a href="#" class="no-icon" target="_blank"><img src="" id="addsearch-image" /></a></div> </div> </div> </div> </div> <div id="main-wrapper" > <div class="header fast image-attribution -small" data-image-webp="/mopo/shared/img/header.webp" data-image="/mopo/shared/img/header.jpg"> <div 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på dansk</div> <div class="title"> <h1>Money market contact group (MMCG)</h1> </div> <div class="section"> <p> The MMCG is a forum for interaction between the ECB and industry-wide market professionals involved in the money markets. The objective of the MMCG is to discuss developments in money markets and share ideas and experiences on the structure and the functioning of the money markets. </p> <ul> <li> <a class="pdf" href="/paym/groups/pdf/mmcg/MMCG_terms_of_reference.pdf?edd08e00efdf8f811c5ea8227b266d57">MMCG terms of reference</a> </li> <li> <a class="pdf" href="/paym/groups/pdf/mmcg/MMCG_workprogramme_2024.pdf?2f32623625cde33c94eae5cf689812ce">Work programme for 2024</a> </li> </ul> <h2>Members and composition</h2> <p>The chair is the Deputy Director General Market Operations of the ECB. </p> <p> The MMCG is composed of representatives of the ECB as well as different financial institutions with a prominent role in the euro area money market. </p> <p> The composition of the group is reviewed at the end of the calendar year. Money market participants are welcome to express their interest in joining the Contact Group by submitting the <a href="/paym/groups/pdf/mmcg/application_form.pdf">application form</a> and relevant documentation at the latest by end October. To further enhance the diversity of our contact group, we particularly encourage institutions to nominate female representatives.</p> <ul> <li><a href="/paym/groups/pdf/mmcg/MMCG_Members_2024.pdf">List of members in 2024</a></li> </ul> <h2>Observers</h2> <p> Representatives from the euro area national central banks, which have the status of observer, may follow the discussions in the group. </p> <h2>Other market contact groups</h2> <ul class="-link-icons"> <li><a href="/mopo/market-contact-groups/bmcg/html/index.da.html" data-label="engelsk">Bond market contact group (BMCG)</a></li> <li><a href="/mopo/market-contact-groups/fxcg/html/index.da.html" data-label="engelsk">Foreign exchange contact group (FXCG)</a></li>  </ul> </div> <div class="accordion"> <div class="header"> <div class="title">2025</div> </div> <div class="content-box"> <div class="definition-list"> <div class="header"> <div class="title"></div> </div> <dl> <dt>3 December 2025</dt> <dd> </dd> <dt>17 September 2025</dt> <dd> </dd> <dt>11 June 2025</dt> <dd> </dd> <dt>13 March 2025</dt> <dd> </dd> </dl> </div> </div> <div class="header"> <div class="title">2024</div> </div> <div class="content-box"> <div class="definition-list"> <div class="header"> <div class="title"></div> </div> <dl> <dt>4 December 2024</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20241204/20241204_MMCG_agenda.pdf">Agenda</a></p> </dd> <dt>18 September 2024</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20240918/20240918_MMCG_agenda.pdf">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20240918/20240918_Summary_MMCG.pdf">Summary</a><br> </p><hr> <br> <a href="/paym/groups/pdf/mmcg/20240918/20240918_MMCG_Item1_Money_market_developments.pdf">Money Market developments</a><br> <a href="/paym/groups/pdf/mmcg/20240918/20240918_MMCG_Item2_Money_market_structure.pdf">Money market structure</a><br> <a href="/paym/groups/pdf/mmcg/20240918/20240918_MMCG_Item3_Tokenisation_in_money_markets.pdf">Tokenisation in money markets</a><br> <p></p> </dd> <dt>12 June 2024</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20240612/20240612_MMCG_agenda.pdf">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20240612/20240612_Summary_June_MMCG.pdf">Summary</a><br> </p><hr> <br> <a href="/paym/groups/pdf/mmcg/20240612/Item_1.1_2024_06_12_MMCG_money_markets_BPCE_NX.pdf">Money Market developments 1</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_1.2_2024_06_12_MMCG_money_markets_Deutsche_Bank.pdf">Money Market developments 2</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_1.3_2024_06_12_MMCG_market structure.pdf">Money market structure</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_2.1_2024_06_2_MMCG_Instant payments_and_TIPS.pdf">Instant payments and TIPS 1</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_2.2_2024_06_12_MMCG_Instant_Payments_opportunities_and_challenges_Belfius.pdf">Instant payments and TIPS 2</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_2.3_2024_06_12_MMCG_instant_payments_Commerzbank.pdf">Instant payments and TIPS 3</a><br> <a href="/paym/groups/pdf/mmcg/20240612/Item_3_2024_06_12_MMCG_AOB_MMSR_Wave2.pdf">AOB MMSR wave 2 and €STR</a><br> <p></p> </dd> <dt>14 March 2024</dt> <dd> <p> <a href="/paym/groups/pdf/mmcg/20240314/20240314_MMCG_agenda.pdf">Agenda</a><br> <a href="/paym/groups/pdf/mmcg/20240314/2024-03-14_summary_march_MMCG.pdf">Summary</a><br> </p> <hr> <br> <a href="/paym/groups/pdf/mmcg/20240314/Item_1_MMCG_March_2024.pdf">Market expectations</a><br> <a href="/paym/groups/pdf/mmcg/20240314/Item_2.1_MMCG_March_2024.pdf">Demand for central bank reserves (I)</a><br> <a href="/paym/groups/pdf/mmcg/20240314/Item_2.2_MMCG_March_2024.pdf">Demand for central bank reserves (II)</a><br> <a href="/paym/groups/pdf/mmcg/20240314/Item_3_MMCG_March_2024.pdf">Liquidity redistribution in the euro area</a><br> <p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2023</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>5 December 2023</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20231205/20231205_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20231205/2023-12-05_MMCG_meeting_summary_public.pdf">Summary</a><br></p><hr><br><a href="/paym/groups/pdf/mmcg/20231205/1_1_ECB_policy_outlook_Xavier.pdf">Market expectations</a><br><a href="/paym/groups/pdf/mmcg/20231205/1_2_ERSTE_recent_MM_developments.pdf">Main developments in money markets</a><br><a href="/paym/groups/pdf/mmcg/20231205/2_1_Non_banks_Olivia_Maguire.pdf">Role of non-banks (MMFs)</a><br><a href="/paym/groups/pdf/mmcg/20231205/2_2_Non_banks_BPCE_Natixis.pdf">Role of non-banks (bank) </a><br><a href="/paym/groups/pdf/mmcg/20231205/2_3_Non_banks_Eurex.en.pdf" data-label="engelsk">Role of non-banks (CCP)</a><br><a href="/paym/groups/pdf/mmcg/20231205/3_1_Operational_framework_IntesaSanpaolo.pdf">Operational framework I </a><br><a href="/paym/groups/pdf/mmcg/20231205/3_2_Operational_framework_Rabobank.pdf">Operational framework II</a><br><p></p> </dd> <dt>20 September 2023</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20230920/2023-09-20_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20230920/20230920_MMCG_meeting_summary_public.en.pdf" data-label="engelsk">Summary</a></p><hr><p></p><p><a href="/paym/groups/pdf/mmcg/20230920/Item_A1_Market_expectations.en.pdf" data-label="engelsk">Market expectations</a><br><a href="/paym/groups/pdf/mmcg/20230920/Item_A2_Update_on_market_funding_conditions.en.pdf" data-label="engelsk">Main developments in money markets</a><br><a href="/paym/groups/pdf/mmcg/20230920/Item_B1_New_technologies_for_wholesale_centralbank_money_settlement_ECB.en.pdf" data-label="engelsk">New technologies for wholesale central bank money settlement</a><br><a href="/paym/groups/pdf/mmcg/20230920/Item_B2_Applying_DLT_into_financial_plumbing.en.pdf" data-label="engelsk">Applying DLT into financial plumbing</a><br><br></p> </dd> <dt>21 June 2023</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20230621/2023-06-21_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20230621/2023-06-21_MMCG_meeting_summary.pdf">Summary</a></p><p></p><blockquote><a href="/paym/groups/pdf/mmcg/20230621/MMCG_survey_on_interest_rate_expectations.pdf">MMCG survey: Interest rate expectations</a><br></blockquote><p><a href="/paym/groups/pdf/mmcg/20230621/Main_developments_in_money_markets-MMCG-Jun23.pdf">Main developments in money markets</a><br><a href="/paym/groups/pdf/mmcg/20230621/Main_developments_in_money_markets2-MMCG-Jun23.pdf">Main developments in money markets</a><br><a href="/paym/groups/pdf/mmcg/20230621/Funding_after_TLTRO-MMCG-Jun23.pdf">Funding after TLTRO</a><br><a href="/paym/groups/pdf/mmcg/20230621/EMMS_2022-MMCG-June23.pdf">EMMS 2022</a><br><a href="/paym/groups/pdf/mmcg/20230621/Interbank_market-MMCG-Jun23.pdf">Interbank market</a><br></p><p></p><p></p> </dd> <dt>17 March 2023</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20230317/2023-03-17_MMCG_summary.en.pdf" data-label="engelsk">Summary</a></p> </dd> <dt>2 March 2023</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20230302/2023-03-02_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20230302/MMCG_2_March_meeting_summary.en.pdf" data-label="engelsk">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20230302/Drivers_of_euro_interest_rate_expectations.en.pdf" data-label="engelsk">Drivers of interest rate expectations</a><br><a href="/paym/groups/pdf/mmcg/20230302/Recent_developments_in_money_markets.en.pdf" data-label="engelsk">Recent developments</a><br><a href="/paym/groups/pdf/mmcg/20230302/Recent_developments_in_money_markets_MMF_view.en.pdf" data-label="engelsk">Recent developments, MMF view</a><br><a href="/paym/groups/pdf/mmcg/20230302/Review_of_recent_developments_collateral_scarcity.en.pdf" data-label="engelsk">Review collateral scarcity</a><br><a href="/paym/groups/pdf/mmcg/20230302/Developments_in_the_ECB_framework.en.pdf" data-label="engelsk">Developments in the ECB framework</a><br><a href="/paym/groups/pdf/mmcg/20230302/Bank_funding_strategies.en.pdf" data-label="engelsk">Bank funding strategy</a><br><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2022</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>7 December 2022</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20221207/20221207_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20221207/2022_12_07_MMCG_summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20221207/Item_1_Main_developments_in_money_markets.pdf">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20221207/Item_2_Expectations_for_ECB_policy_outlook.pdf">Expectations for the ECB policy outlook</a><br><a href="/paym/groups/pdf/mmcg/20221207/Item_3a_Collateral_scaricty.pdf">Collateral scarcity</a><br><a href="/paym/groups/pdf/mmcg/20221207/Item_3b_Collateral_scarcity_and_MMFs.pdf">Collateral scarcity and MMFs</a><br><a href="/paym/groups/pdf/mmcg/20221207/Item_4_Banks_response_to_monetary_policy_normalisation.pdf">Banks response to monetary policy normalisation</a><br><p></p> </dd> <dt>14 September 2022</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20220914/2022-09-14_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20220914/summary.en.pdf" data-label="engelsk">Summary</a><a href="/paym/groups/pdf/mmcg/20220914/Main_developments_in_the_money_markets_a.en.pdf" data-label="engelsk">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220914/Main_developments_in_the_money_markets_b.en.pdf" data-label="engelsk">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220914/Expectations_regarding_the_transmission_of_potential_future_ECB_policy_rate_hikes_to_money.en.pdf" data-label="engelsk">Expectations regarding the transmission of potential future ECB policy rate hikes to money</a><br><a href="/paym/groups/pdf/mmcg/20220914/Impact_of_historically_high_levels_of_interest_rate_volatility_on_money_markets.pdf">Impact of historically high levels of interest rate volatility on money markets</a><br></p><hr> </dd> <dt>15 June 2022</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20220615/2022-06-15_MMCG_meeting_agenda.en.pdf" data-label="engelsk">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20220615/Summary.en.pdf" data-label="engelsk">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20220615/Main_developments_Barclays.en.pdf" data-label="engelsk">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220615/Main_developments_Belfius.en.pdf" data-label="engelsk">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220615/Main_developments_Deutsche_Bank.en.pdf" data-label="engelsk">Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220615/Expected_evolution_DZ.en.pdf" data-label="engelsk">Expected evolution of excess liquidity</a><br><a href="/paym/groups/pdf/mmcg/20220615/TLTRO_Caixabank.en.pdf" data-label="engelsk">TLTRO III repayment considerations</a><br><a href="/paym/groups/pdf/mmcg/20220615/MM_Rabobank.en.pdf" data-label="engelsk">Level as of which short-term rates become reactive to changes in central bank reserves</a><br><a href="/paym/groups/pdf/mmcg/20220615/NBFIs_JP_Morgan.en.pdf" data-label="engelsk">The growing role of NBFIs</a><p></p> </dd> <dt>16 March 2022</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20220316/MMCG_Q1_2022_Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20220316/2022-03-16_MMCG_meeting_summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20220316/Item1_MM_Developments_since_Dec21_BoI.pdf">Item 1 (a) Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220316/Item1_MM_Developments_since_Dec21_Intesa.pdf">Item 1 (b) Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220316/Item1_MM_Developments_since_Dec21_Others.pdf">Item 1 (c) Main developments in the money markets</a><br><a href="/paym/groups/pdf/mmcg/20220316/Item2_Supply&Demand_Collateral_for_Repo_BNP.pdf">Item 2 (a) German Collateral Scarcity and its Impacts</a><br><a href="/paym/groups/pdf/mmcg/20220316/Item2_Supply&Demand_Collateral_for_Repo_MMF_View_JPMorgan.pdf">Item 2 (b) Money Market Fund view on year-end</a><p></p> </dd> <dt>28 February 2022</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20220228/2022-02-28_MMCG_summary.pdf">Summary</a></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2021</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>7 December 2021</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20211207/2021_12_07_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20211207/Summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20211207/Item_1_money_market_OIS.pdf">Item 1 Money market OIS</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_2_i_money_market_secured.pdf">Item 2 (i) Money market secured</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_2_ii_money_market_FX_Swap.pdf">Item 2 (ii) Money market FX Swap</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_2_iii_money_market_unsecured.pdf">Item 2 (iii) Money market unsecured</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_3_i_climate_change_on_collateral_a.pdf">Item 3 (a) Climate change on collateral</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_3_ii_climate_change_on_collateral_b.pdf">Item 3 (b) Climate change on collateral</a><br><a href="/paym/groups/pdf/mmcg/20211207/Item_4_SMA_update.pdf">Item 4 SMA update</a><p></p> </dd> <dt>15 September 2021</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20210915/2021-09-15_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20210915/Summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20210915/Item_1_ECB_Strategic_review.pdf">Item 1 ECB strategic review</a><br><a href="/paym/groups/pdf/mmcg/20210915/Item_2_Exit_from_non-conventional_Monetary_Policy.pdf">Item 2 Exit from non-conventional monetary policy</a><br><a href="/paym/groups/pdf/mmcg/20210915/Item_3_a_Digital_Euro_investigation_phase.pdf">Item 3 (a) Digital euro investigation phase</a><br><a href="/paym/groups/pdf/mmcg/20210915/Item_3_b_New_forms_of_digital_money.pdf">Item 3 (b) New forms of digital money</a><p></p> </dd> <dt>16 June 2021</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20210616/2021-06-16_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20210616/2021-06-16_MMCG_meeting_summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20210616/Item_1a_Secured_segment_developments.pdf">Item 1 (a) Secured segment developments</a><br><a href="/paym/groups/pdf/mmcg/20210616/Item_1b_Other_market_segments_developments.pdf">Item 1 (b) Monetary Policy Expectations and developments in OIS and FX swap segments</a><br><a href="/paym/groups/pdf/mmcg/20210616/Item_2a_TLTRO_assessment_and_expectations.pdf">Item 2 (a) TLTRO assessment and expectations</a><br><a href="/paym/groups/pdf/mmcg/20210616/Item_2b_TLTRO_participation_and_early_repayments.pdf">Item 2 (b) TLTRO participation</a><br><a href="/paym/groups/pdf/mmcg/20210616/Item_3a_MMF_regulatory_reforms_ECB.pdf">Item 3 (a) Considerations on MMF reforms</a><br><a href="/paym/groups/pdf/mmcg/20210616/Item_3b_MMF_regulatory_reforms.pdf">Item 3 (b) MMF regulatory reforms</a><br><p></p> </dd> <dt>16 March 2021</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20210316/2021-03-16_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20210316/2021-03-16_MMCG_meeting_summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20210316/Item_1a_Monetary_Policy_Expectations.pdf">Item 1 (a) Monetary Policy Expectations</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_1a_Monetary_Policy_Expectations_and_TLTRO_participation.pdf">Item 1 (a) Monetary Policy Expectations and TLTRO Participation</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_1a_TLTRO_participation_ECB.pdf">Item 1 (a) TLTRO Participation (ECB)</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_1b_Developments_in_Repo_Markets.pdf">Item 1 (b) Developments in Repo Markets</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_1c_Developments_in_FX_Swap_Markets.pdf">Item 1 (c) Developments in FX Swap Markets</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_2_Role_of_Non-Banks_in_Euro_Money_Markets.pdf">Item 2 Role of Non-Banks in Euro Money Markets</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_3_Brexit_Impact_on_Short-Term_Securities_Issuance.pdf">Item 3 Brexit Impact on Short Term Securities Issuance</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_4_Benchmark_Transition.pdf">Item 4 Benchmark Transition</a><br><a href="/paym/groups/pdf/mmcg/20210316/Item_4_Benchmark_Transition_ECB.pdf">Item 4 Benchmark Transition (ECB)</a><br><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2020</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>1 December</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20201201/2020-12-01_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20201201/2020-12-01 MMCG_meeting_summary_PUBLIC_final.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20201201/Item_1i_Monetary_Policy_Expectations_a.pdf">Item 1 (i): Monetary Policy Expectations (a)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_1i_Monetary_Policy_Expectations_b.pdf">Item 1 (i): Monetary Policy Expectations (b)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_1ii_Market_expectations_of_TLTRO_changes_and_participation_a.pdf">Item 1 (ii): Market expectations of TLTRO changes and participation (a) </a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_1ii_Market_expectations_of_TLTRO_changes_and_participation_b.pdf">Item 1 (ii): Market expectations of TLTRO changes and participation (b)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_1iii_Year_end_expectations_in_FX_and_repo_markets.pdf">Item 1 (iii): Year and expectations in FX and repo markets</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_2_Publication_of_Liquidity_management_data.pdf">Item 2: Publication of Liquidity management data</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_3_TARGET_Instant_Payment_Settlement_a.pdf">Item 3: Target Instant Payment Settlement (a)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_3_TARGET_Instant_Payment_Settlement_b.pdf">Item 3: Target Instant Payment Settlement (b)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_4_Green_finance_Deutsche_Kreditbank.pdf">Item 4: Green finance (a)</a><br><a href="/paym/groups/pdf/mmcg/20201201/Item_4_Green_finance_SocGen.pdf">Item 4: Green finance (b) </a><p></p> </dd> <dt>22 September</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/2020-09-22_MMCG_meeting_agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/MMCG_meeting_summary_PUBLIC.pdf">Summary</a></p><hr><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_1i_Banks_usage_of_TLTRO_III_funds.pdf">Item 1 (i): Banks usage of TLTRO III funds</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_1ii_Banks’_usage_of_TLTRO_III_funds.pdf">Item 1 (ii): Banks'usage of TLTRO III funds</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_2i_Developments_in_unsecured_and_secured_markets.pdf">Item 2(i): Developments in unsecured and secured markets</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_2ii_FX_Swap_and_OIS_Markets.pdf">Item 2 (ii): FX Swap and OIS Markets</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_2ii_USD_Funding_Conditions.pdf">Item 2 (ii): USD Funding Conditions</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_3i_ACC_frameworks.pdf">Item 3 (i): ACC Frameworks </a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_3i_ACCc_in the_collateral_framework.pdf">Item 3 (i): ACC in the collateral framework</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_4_Impact_of_ECB_unconventional_montary_policy_measures.pdf">Item 4: Impact of ECB unconventional monetary policy measures</a><br><a class="pdf" href="/paym/groups/pdf/mmcg/20200922/Item_4_Strategic_Review_under_an_Money_Markets_perspective.pdf">Item 4: Strategy Review under a Money Markets perspective</a><p></p> </dd> <dt>16 June</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200616/agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20200616/summary.pdf">Summary</a></p><hr><br><a href="/paym/groups/pdf/mmcg/20200616/item1i.pdf">Item 1 (i): Developments Money Markets</a><br><a href="/paym/groups/pdf/mmcg/20200616/item1(ii).pdf">Item 1 (ii): Update on Negotiable Euro Commercial Papers</a><br><a href="/paym/groups/pdf/mmcg/20200616/item1ii(2).pdf">Item 1 (ii) (2): STEP Market Update</a><br><a href="/paym/groups/pdf/mmcg/20200616/item1iii.pdf">Item 1 (iii): USD Funding Conditions and XCCY developments</a><br><a href="/paym/groups/pdf/mmcg/20200616/item2.pdf">Item 2: Impact of remote working arrangements on banks’ liquidity management</a><br><a href="/paym/groups/pdf/mmcg/20200616/item3i.pdf">Item 3(i): Market expectations for TLTRO-III and PELTRO</a><br><a href="/paym/groups/pdf/mmcg/20200616/item3ii.pdf">Item3 (ii): Market expectations for ECB policy measures</a><br><a href="/paym/groups/pdf/mmcg/20200616/item4.pdf">Item 4: ECB Money Market Contact Group</a><p></p> </dd> <dt>4 May</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200504/summary.pdf" class="title">Summary</a></p> </dd> <dt>31 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200331/summary.pdf" class="title">Summary</a></p> </dd> <dt>24 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200324/agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20200324/summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20200324/Item_2i_Money_Market_Outlook_Bank_of_Ireland.pdf">Item 2(i): Money Market Outlook</a><br><a href="/paym/groups/pdf/mmcg/20200324/Item_2i_Main_Developments_Erste.pdf">Item 2(i): Main developments</a><br><a href="/paym/groups/pdf/mmcg/20200324/Item_2ii_ECB_operations_Barclays_Unicredit.pdf">Item 2(ii): ECB operations</a><br><a href="/paym/groups/pdf/mmcg/20200324/Item_3_Development_ESTR_Intesa.pdf">Item 3: Development of the €STR benchmark</a><br><p></p> </dd> <dt>20 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200320/summary.pdf" class="title">Summary</a></p> </dd> <dt>17 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200317/summary.pdf" class="title">Summary</a></p> </dd> <dt>13 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200313/summary.pdf" class="title">Summary</a></p> </dd> <dt>9 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20200309/summary.pdf" class="title">Summary</a></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2019</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>3 December</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20191203/agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20191203/summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20191203/Item_1_i_Tiering_in_REPO_Market.pdf">Item 1(i): The European Repo-Segment under the impact of Tiering</a><br><a href="/paym/groups/pdf/mmcg/20191203/Item_1_ii_MM_outlook.pdf">Item 1(ii): Euro money market outlook</a><br><a href="/paym/groups/pdf/mmcg/20191203/Item_2_NEUCP.pdf">Item 2: Update on Negotiable Euro Commercial Papers</a><br><a href="/paym/groups/pdf/mmcg/20191203/Item_2_STEP_market_update.pdf">Item 2: Update on Short-Term European Papers</a><br><a href="/paym/groups/pdf/mmcg/20191203/Item_3_EDDI.pdf">Item 3: Public consultation on the EDDI initiative</a><br><a href="/paym/groups/pdf/mmcg/20191203/Item_4_Eurostr.pdf">Item 4: €STR - initial market reaction</a><p></p> </dd> <dt>24 September</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20190924/agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20190924/summary.pdf">Summary</a></p><hr><a href="/press/key/date/2019/html/ecb.sp190924~fc8df55cd2.en.html" data-label="engelsk">Welcome address by Luis de Guindos</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_1_i_Market_Expectations_For_ECB_Monetary_Policy_Measures.pdf">Item 1(i): Market Expectations for ECB monetary policy measures</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_1_ii_FX-_XCCY_Swap_and_FRA_OIS_Markets_An_Update.pdf">Item 1(ii): FX- / XCCY Swap and FRA/OIS Markets - An Update</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_3_i_Developments_in_Payment_Systems-TARGE_Instant_Payment_Settlement.pdf">Item 3(i): Developments in payment systems: TARGET Instant Payment Settlement</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_3_ii_Instant_Payments_Numbers_and_Developments_for_the_German_Cooperative_Banking_Sector.pdf">Item 3(ii): Instant Payments - Numbers and Developments for the German Cooperative Banking Sector</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_3_iii_Instant_Payments_Developments.pdf">Item 3(iii): Instant Payments Developments </a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_4_i_ESTR_Transition-Establishing_a_Liquid_ESTR_Derivatives_Market.pdf">Item 4(i): €STR Transition - Establishing a liquid €STR derivatives market</a><br><a href="/paym/groups/pdf/mmcg/20190924/Item_4_ii_EURIBOR_Fallback_Rates-Current_Discussions.pdf">Item 4(ii): EURIBOR fallback rates - current discussions</a><p></p> </dd> <dt>25 June</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20190625/agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20190625/summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20190625/Item_2_Market_Expectations_for_ECB_monetary_policy_measures.pdf">Item 2: Market Expectations for ECB monetary policy measures</a><br><a href="/paym/groups/pdf/mmcg/20190625/Item_3_i_Negative_rates_and_Tiering.pdf">Item 3(i): Negative rates and Tiering</a><br><a href="/paym/groups/pdf/mmcg/20190625/Item_3_ii_profitability_impacted_through_negative_interest_rates.pdf">Item 3(ii): Profitability impacted through negative interest rates</a><br><a href="/paym/groups/pdf/mmcg/20190625/Item_4_i_prudential_regulation_impacts_on_the_repo_market_for_safe_assets.pdf">Item 4(i): Prudential Regulation (excluding NSFR) – Impacts on the repo market for safe assets </a><br><a href="/paym/groups/pdf/mmcg/20190625/Item_4_ii_impact_of_regulation_NSFR.pdf">Item 4(ii): Impact of regulation (NFSR) </a><p></p> </dd> <dt>12 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20190312/Agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20190312/Summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20190312/Item_2_i_recent_developments_in_market_expectations.pdf">Item 2(i): Recent developments in market expectations</a><br><a href="/paym/groups/pdf/mmcg/20190312/Item_2_ii_Drivers_behind_the_benign_USD_funding_conditions_at_the_year_end.pdf">Item 2(ii): Drivers behind the USD funding conditions at the year end</a><br><a href="/paym/groups/pdf/mmcg/20190312/Item_2_iii_Functioning_of_the_euro_area_repo_markets.pdf">Item 2(iii): Function of the euro area repo markets</a><br><a href="/paym/groups/pdf/mmcg/20190312/Item_4_Update_on_Working_Group_Euro_RFR.pdf">Item 4: Update on the Working Group Euro RFR</a><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2018</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>3 December</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20181203/2018-12-03_MMCG_meeting_agenda.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20181203/2018-12-03_MMCG_meeting_summary_public.doc.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20181203/Item_1_Countdown_to_Brexit_Key_Bank_Rating_Considerations.pdf">Item 1: Countdown to Brexit: Key Bank Rating Considerations</a><br><a href="/paym/groups/pdf/mmcg/20181203/Item_2_Market_Expectations_Central_Bank_Policy_Main_indicators_and_recent_developments.pdf">Item 2: Market Expectations Central Bank Policy: Main indicators and recent developments</a><br><a href="/paym/groups/pdf/mmcg/20181203/Item_3_Update_on_developments_in_the_FX_Swap_and_FRAOIS_Markets.pdf">Item 3: Update on developments in the FX Swap and FRA/OIS Markets</a><br><a href="/paym/groups/pdf/mmcg/20181203/Item_5_1_Instant_payments.pdf">Item 5(i): Instant Payments</a><br><a href="/paym/groups/pdf/mmcg/20181203/Item_5_2_Instant_Payment_Services_TIPS_and_RT1_Implications_for_Liquidity_Management.pdf">Item 5(ii): Instant Payment Services TIPS and RT1: Implications for Liquidity Management</a><br><a href="/paym/groups/pdf/mmcg/20181203/Item_5_3_Instant_Payment_Service_Implications_for_Liquidity_Management.pdf">Item 5(iii): Instant Payment Service: Implications for Liquidity Management</a><p></p> </dd> <dt>25 September</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20180925/2018-09-25_MMCG_meeting_agenda_final.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20180925/2018-09-25_MMCG_meeting_summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20180925/Item_2_(ii)_Italy_on_a_narrow_path.pdf">Item 2(ii): Italy on a narrow path</a><br><a href="/paym/groups/pdf/mmcg/20180925/Item_3_Implications_of_Brexit_for_the_Euro_money_market.pdf">Item 3: Implications of Brexit for Euro money market</a><br><a href="/paym/groups/pdf/mmcg/20180925/Item_4_(i)_TLTRO_Repayments.pdf">Item 4(i): TLTRO Repayments</a><a href="/paym/groups/pdf/mmcg/20180925/Item_4_(ii)_Italy_and_TLTROS_State_of_Play.pdf">Item 4(ii): Italy and TLTROs – State of play</a><br><a href="/paym/groups/pdf/mmcg/20180925/Item_4_(iii)_TLTRO_II_analysis_-_Spanish_financial_institutions.pdf">Item 4(iii): TLTRO II analysis – Spanish financial institutuions</a><p></p> </dd> <dt>7 June</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20180607/2018-06-07_MMCG_meeting_agenda_final.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20180607/2018-06-07_MMCG_Meeting_Summary_Public.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20180607/Item_1_(i)_FRA_OIS_Basis_An_Update.pdf">Item 1(i): FRA / OIS Basis – An Update</a><br><a href="/paym/groups/pdf/mmcg/20180607/Item_1_(ii)_Italian_repo_market_overview.pdf">Item 1(ii): Italian Repo market overview</a><br><a href="/paym/groups/pdf/mmcg/20180607/Item_3_European_MMF_Reform.pdf">Item 3: European MMF Reform</a><br><a href="/paym/groups/pdf/mmcg/20180607/Item_4_Update_on_ECB's_development_of_a_daily_euro_unsecured_overnight_interest_rate.pdf">Item 4: Update on ECB’s development of a daily euro unsecured overnight interest rate</a><p></p> </dd> <dt>13 March</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20180313/2018-03-13_MMCG_Meeting_Agenda_ECB_Public.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20180313/2018-13-03_MMCG_Meeting_Summary_Public.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20180313/Item_2_(i)_Update_on_developments_in_the_FX_Swap_Market_-_2017_year-end.pdf">Item 2(i): Update on developments in the FX Swap Market – 2017 year-end</a><br><a href="/paym/groups/pdf/mmcg/20180313/Item_2_(ii)_US_Dollar_Funding.pdf">Item 2(ii): US Dollar Funding</a><a href="/paym/groups/pdf/mmcg/20180313/Item_3_Functioning_of_the_EURO_area_Repo_Markets.pdf">Item 3: Functioning of the Euro Area Repo Markets</a><br><a href="/paym/groups/pdf/mmcg/20180313/Item_4_Working_Group_on_Euro_Risk_Free Rates.pdf">Item 4: Working Group on Euro Risk Free Rates – Determine mandate and governance</a><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2017</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>4 December</dt> <dd> <p><a href="/paym/groups/pdf/mmcg/20171204/2017-12-14_MMCG_Meeting_Agenda_ECB_Public.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Meeting_Summary.pdf">Summary</a></p><hr><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_1_(i)_Recent_developments_in_EONIA_forward_rates.pdf">Item 1 (i): Recent developments in EONIA forward rates</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_1_(ii)_Update_on_developments_in_the_FX_Swap_Markets.pdf">Item 1 (ii): Update on developments in the FX swap market</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_1_(iii)_Recent_developments_in_euro_area_Repo_Markets.pdf">Item 1 (iii): Recent developments in euro area repo markets</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_3_(i)_NEU_CPs.pdf">Item 3 (i): NEU CPs</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_3_(ii)_Money_Market_Contact_Group-STEP_market_update.pdf">Item 3 (ii): Money Market Contact Group - STEP market update</a><br><a href="/paym/groups/pdf/mmcg/20171204/2017-12-04_MMCG_Item_4_Instant_Payments.pdf">Item 4: Instant Payments</a><p></p> </dd> <dt>26 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_meeting_agenda_ECB_public.pdf?3294d2e9a73c282389db328e497f1c9f">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_meeting_summary.pdf?0e5222e51ed0f2acb3f1eb00be50a4bc">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_1_i_Mkt_expectations_ecb_monpolicy.pdf?8627c0341584d412716b26f8353b4728"> Item 1 (i): Market Expectations For ECB Monetary Policy</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_1_ii_Introduction_quarter_end.pdf?8627c0341584d412716b26f8353b4728"> Item 1 (ii): Expectations for the September quarter end</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_3_i_Cross_currency_basis.pdf?8627c0341584d412716b26f8353b4728"> Item 3 (i): CCY Basis – Executive Summary & Call for Discussions</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_4_i_Intraday_Liquidity.pdf?8627c0341584d412716b26f8353b4728"> Item 4 (i): Intraday Liquidity</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_4_ii_Intraday_Liquidity_ItaPerspective.pdf?8627c0341584d412716b26f8353b4728"> Item 4 (ii): Excess Liquidity: drivers and costs - An Italian Perspective</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_5_i_NSFR_Repo_asymmetry_and_intragroup_Impact.pdf?8627c0341584d412716b26f8353b4728"> Item 5 (i): Net Stable Funding Ratio / Repo Asymmetry and Intragroup Implications</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMSR_Item_5_iv_NSFR.pdf?4ec098a61102469a271a9819cabac7a8"> Item 5 (iv): NFSR – A few Aspects to consider</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170926/2017-09-26_MMCG_Item_6_Update_on_interest_rate_benchmarks.pdf?8627c0341584d412716b26f8353b4728"> Item 6: Update on interest rate benchmarks</a> </dd> <dt>13 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_meeting_agenda_final.pdf?e168a840dabc1193b9d2bc0c5c9efef8">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_meeting_summary_public.pdf?d9401181538bd81673167a83b6454b19">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_Item_2_AMI_Pay_AMI_SeCo.pdf?ae2b03f19091a368b348677f64f3dd1d"> Item 2: Arrangements for interaction with the market on financial market infrastructures and payments</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_Item_3_i_monetary_policy_expectations.pdf?abe7eeaeaa73d6d80193d6f9d2d101e3"> Item 3 (i): Market Expectations For ECB Monetary Policy</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_Item_3_ii_Repo_market_and_quarter_end_Endres.pdf?96f0852e104cecedb8931fcf0f20cee9"> Item 3 (ii): Market outlook for the forthcoming quarter-end. Role of the Eurosystem securities lending facility</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/Item_4_Developments_in_the_FX_swap_market_evidence_from_the_MMSR_data.pdf?e5590e7b7d538a47ff794b450f2ea2d7"> Item 4: Developments in the FX swap market – MMSR perspective</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_Item_4_b_MMCG_Fx_swaps_market_survey.pdf?cdd385000d03a20e4b4c1c9f25377eda"> Item 4 (ii): MMCG survey on FX swap market functioning</a><a class="pdf" href="/paym/groups/pdf/mmcg/201706/2017-06-13_MMCG_Item_5_Euribor_Eonia_ECB_13th_June_2017_final.pdf?27b2c84faadf14b02ef1b6b21f269da1"> Item 5: Eonia / Euribor Past, Present and Future</a> </dd> <dt>14 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_meeting_agenda_ECB_public.pdf?88e4c8d16e89a8aff9cd35b91ada157b">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_meeting_summary_public.pdf?efb3d19d674002a51c638ca3a7a9015c">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_Item_4.2_Recent_Developments_on_the_euro_area_repo_markets.pdf?3567f34d3b8151e240d81889279c7cc2"> Item 4 (ii): Recent developments in the euro area repo markets: main drivers</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_Item_4.4_Impact_of_the_political_developments_in_Europe.pdf?c356792f9dfa9c0ad7c391bae8c090ac">Item 4 (iv): Impact of political developments in Europe on the euro area money market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_Item_5.1_Intraday_liquidity_management.A_short_voyage_in_the_regulatory_and_supervisory_framework.pdf?5f8fa2a05be7994bece8531cd08baffc">Item 5 (i): Intraday liquidity management: A short voyage on the regulatory and supervisory framework</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_Item_5.2_Intraday_liquidity_management.pdf?852e2b08f45995ea641979f5f7991e3f">Item 5 (ii): Intraday liquidity management: market perspective</a><a class="pdf" href="/paym/groups/pdf/mmcg/20170314/2017-03-14_MMCG_Item_5.3_payment_system_infrastructure_and_intraday_liquidity_management.pdf?fcd0657ab8252ec744f46fcc1250bf07">Item 5 (iii): Eurosystem strategic review on the future of its Financial Market Infrastructures (FMIs)</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2016</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>12 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_meeting_agenda_ECB_public.pdf?95b909d139a490a94cf00a8b084fb717">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_meeting_summary.pdf?ccdacd2b1d885f7cef6f42e2bf0f20ce">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_Item_1_2_MMSR_update.pdf?6112342e6ee8a6152edc97f06b42f773">Item 1.2: Update on ECB’s Money Market Statistical Reporting (MMSR)</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_Item_2_General_market_review_and_PSPP_sec_lending_facilities.pdf?bd3a920b80c5d7fdaebd08d5a19118bb">Item 2: Review of the latest market developments and other topics of relevance</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_Item_2_1_Recent_trends_in_repo_rates.pdf?c3dd8cd6c3a2f260c6d751677fc46224">Item 2 (i): Recent trends in the evolution of the repo rates in the euro area</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_Item_2_2_Market_preparations_for_the_forthcoming_year-end.pdf?6112342e6ee8a6152edc97f06b42f773">Item 2 (ii): Market preparations for the upcoming year-end and expectations for the money market liquidity</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016-12-12_MMCG_Item_3_US_MMF_reform_and_prudential_standards.pdf?6112342e6ee8a6152edc97f06b42f773">Item 3: The impact of the US Money Market Funds reform and the US enhanced prudential standards on the European banks and availability of short-term US dollar funding</a><a class="pdf" href="/paym/groups/pdf/mmcg/20161212/2016_12_12_MMCG_Item_4_Update_on_repo_benchmark.pdf?6112342e6ee8a6152edc97f06b42f773"> Item 4: Update on the repo market benchmark</a> </dd> <dt>27 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_meeting_agenda.pdf?a4cecb57d91398a4ed4cc8ece6272a62">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_meeting_summary.pdf?82464bec65e632c3b8db5887ff6df549">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_Item_2_latest market developments.pdf?bf1f75b604aece5d1077ff04c52bb9bd">Item 2: Review of the latest market developments and other topics of relevance</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_Item_2i_impact_UK_Referendum.pdf?a49bd6e4915dcd5345da45f1bc6fb680">Item 2 (i): The impact of the outcome of the UK referendum on the money market and the outlook going forward</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_Item_2_iiiTLTRO_II_expectations.pdf?f3d885166f753c111d4086b3f9c2a100">Item 2 (iii): Expectations of participation in the future operations in the TLTRO II series</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_item_2iv_Excess_Liquidity_impact_money_markets.pdf?84473b4740d8e1a4fe8014cdbc8f96d4">Item 2 (iv): The outlook on the evolution of excess liquidity and the expected impact on money market rates and market activity</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_item_3_Repo_rates.pdf?52db8265f3384e161a15dba765d9e83f">Item 3: Recent trends in the evolution of the repo rates in the euro area: possible drivers and implications for banks’ liquidity management</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG_item4_NEUCP_Sept_2016.pdf?79271e0ff7e45e92e2c6b5044a592798">Item 4: Structural changes in the French CP market: introduction of the NEU CP market, the impact on investor demand and market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160927/2016-09-27_MMCG__meeting_Item_5_MMSR_Presentation.pdf?e17b9832d1b3ca27b90500d812c9c232">Item 5: Update on the ECB’s Money Market Statistical Reporting Regulation</a> </dd> <dt>9 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-06-09_MMCG_meeting_agenda_ECB_public_FINAL.pdf?569ccd04b7b7b279d7df1261a0871599">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-06-09_MMCG_meeting_summary_public.pdf?569ccd04b7b7b279d7df1261a0871599">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-06-09_MMCG_Item_1_Market_developments.pdf?569ccd04b7b7b279d7df1261a0871599">Item 1: Latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-09-06_MMCG_item_1_iii_FX_USMMF.pdf?569ccd04b7b7b279d7df1261a0871599">Item 1 (iii): FX swap market and the US money market fund reform</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-06-09_MMCG_Item_2_ii_MMSR_Update.pdf?569ccd04b7b7b279d7df1261a0871599">Item 2 (ii): Update on the ECB’s Money Market Statistical Reporting Regulation</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160609/2016-06-09_MMCG_Item_3_Update_on_benchmarks.pdf?569ccd04b7b7b279d7df1261a0871599">Item 3: Update on money market benchmarks and the on-going reform process</a> </dd> <dt>15 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_agenda.pdf?a6e14545ba8537c76e0b7be3c99e7bcd">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_summary.pdf?37810a318768b8f268ff751645180a6a">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_1_i_FED_ON_benchmark_Intesa.pdf?5f9699b4d9ef9190098430616ca21d6f">Item 1: Recent structural developments in the US money market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_2_i_Presentation_market_reaction_LBBW.pdf?1d23a4c7f6596835e75c076d9678a28a">Item 2 (i): Market reaction to the ECB Governing Council meeting on 10 March 2016</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_2_ii_Negative_Interest_Rate_Policy_of_the_ECB_ING.pdf?1db63ee463edf82e17c0b8e92a0b5e1b">Item 2 (ii): Impact of the negative interest rate environment on banks and money market activity</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_2_iii_Changing_FX_Markets_Barclays.pdf?0e578866799458b37b883e825421cba2">Item 2 (iii): Developments in the FX swap market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_3_Distribution_of_Excess_Liquidity.pdf?a70695033c565edec4e97bd75d9ef809">Item 3: Distribution of excess liquidity in the euro area</a><a class="pdf" href="/paym/groups/pdf/mmcg/20160315/2016-03-15_MMCG_Item_6_MMSR_update.pdf?1494d1ff6433e1b210bd50080590aab5">Item 5: Update on the ECB’s Money Market Statistical Reporting Regulation</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2015</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>8 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20151208/agenda.pdf?b44a33033c1246157652fad8781f93ab">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20151208/summary.pdf?3c4c6f759053ad956685e5cf3ff2e519">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20151208/presentation1.pdf?8439ea77b03e0e50c703de803844cff1">Item 1: Main results of the quarterly MMCG euro money market survey</a><a class="pdf" href="/paym/groups/pdf/mmcg/20151208/presentation2.pdf?dd47c47d24fb9478ba7c6b1c87a3892e">Item 2: Latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20151208/presentation3.pdf?45ac47e9c1225c75a278f6dc75707c6c">Item 2 (ii): Excess liquidity and impact on market turnover</a> </dd> <dt>9 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20150909/agenda.pdf?cbc96a6154ed7204302132c1d078d17b">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-09_summary.pdf?6ceb619fb2630feac30e109042fcaa7c">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-03_3i_Excess_liquidity.pdf?90b5f57de51c3a05f50469d5007c0f81">Item 3 (i): Market functioning in the environment of large excess liquidity</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-09_3ii_Drivers_of_divergence_in_repo_markets.pdf?90b5f57de51c3a05f50469d5007c0f81">Item 3 (ii): Drivers of divergences in repo market rates and the spread to the ECB deposit facility</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-09_3iii_MMCG_FX_swap.pdf?90b5f57de51c3a05f50469d5007c0f81">Item 3 (iii): FX swap market and drivers of volatility. The expected impact of the US monetary policy tightening on the FX swap market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-09_3iv_US_monetary_policy_tightening.pdf?90b5f57de51c3a05f50469d5007c0f81">Item 3 (iv): Implications of US monetary policy tightening expectations for euro area financial markets</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150909/2015-09-09_4_MMCG_Presentation_on_MMSR_update.pdf?90b5f57de51c3a05f50469d5007c0f81">Item 4: Update on the ECB’s Money Market Statistical Reporting Regulation</a> </dd> <dt>29 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20150629/2015-06-29summary.pdf?94add2f166ea60be4238f0e8e90f7441">Summary</a> </dd> <dt>17 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20150617/agenda_public.pdf?723d4170d26cf9aa3d0889c4ee1a9b60">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/summary_public.pdf?c3622036c30f76a529cd9aeea539cadf">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_1_i_General_market_presentation.pdf?08660a155090cdd697e37bacca32a095">Item 1 (i): Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_1b_Re-pricing_of_EUR_Curve.pdf?dd7c643e0356540345535ef1cb4d03fc">Item 1 (ii): The drivers of recent market volatility and re-pricing of the euro money market rates</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_1c_Initial_market_experience_w_negative_3-month_Euribor_rates.pdf?7a6aba7ab4a84ef6dd4972923131715a">Item 1 (iii): The initial market experience with negative three-month Euribor rates</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_1d_money_market_rates_and_activity.pdf?ba7b7f874865cfeed3b10585dce501a7">Item 1 (iv): Market expectations of future money market rates</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_2b_June_2015_-_IT_Repo.pdf?8bd2003e4123c56d92a6464aac5224e7">Item 2 (i): A focus on the Italian repo market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_2a_ES_repo_market_17jun15.pdf?82604a1119a0425b22a71ab9e2951664">Item 2 (ii): Spanish repo market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_2c_German_repo.pdf?98afabc30eef3eb66555866a6f3a7a1d">Item 2 (iii): Repo market for German government bonds</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150617/Item_3a_MMSR.pdf?92523f0f8b093809f314566b09f7fc72">Item 3: An update on the ECB’s Money Market Statistical Reporting Regulation</a> </dd> <dt>18 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20150318/agenda_public.pdf?03f6adf5daa9edfed7211d1f7a006c54">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_MMCG_mtg_summary_public.pdf?e9d51fb290f73f8a527fd4a0089a574d">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item1.pdf?52f3081a70b9635d7581fd24b80008d6">Item 1: An update on the Money Market Statistical Reporting Regulation</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item3i.pdf?b846dbae0c13deccb20556213cfef599">Item 3 (i): Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item3ii.pdf?009e4eda53e8f8f4dde5387f0148d254">Item 3 (ii): Recent developments and main drivers of the cross-currency swap market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item3iii.pdf?10ad12eff52a6fcf146d436cfaec7a2e">Item 3 (iii): The impact of the Eurosystem public sector purchase programme on the money market and banks' liquidity management</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item4.pdf?7dffa0c4f6805c6d5e19b0077a522703">Item 4: Update on STEP market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20150318/2015-03-18_presentation_item5.pdf?107c28185fb16b808dd26ce1488fd662">Item 5: Update on regulatory developments for Money Market Funds</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2014</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>21 November</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20141121/agenda.pdf?ddfae15a110021230fc8e353e93e65a8">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/summary.pdf?710e034f49aa38badf1ca5af66661860">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/2014-11-21_MMCG_Item_1_Market_Presentation_Final.pdf?bbf37964113f39eb2a1e1bed8927e26d">Item 1 (i): Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/2014-11-21_MMCG_ITem_1a_Money_Market_Contact_Group_21_Novembre_2014_TLTR.pdf?b0077568c463842ca065f0c2792f530e">Item 1 (ii): Market expectations for the TLTRO participation</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/2014-11-21_MMCG_Item_3_Update_Regulation.pdf?5a9423f6d8e99a6d912d2f8fcbe984d3">Item 3: An update of regulatory developments and impact on banks’ regulatory compliance</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/2014-11-21_MMCG_Item_4_Spanish_sector_Nov2014.pdf?c1f4f9b75e6786870556a723ccafb4dd">Item 4: Spanish Banking System - European Comparison</a><a class="pdf" href="/paym/groups/pdf/mmcg/20141121/2014-11-21_MMCG_Item_5_T2S_update.pdf?b00eb231c31a152f5dd130ad5d4f6d4f">Item 5: T2S countdown – 7 months, 3 days to go live</a> </dd> <dt>9 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20140909/agenda.pdf?8a731d19aa0ebf09f5bdc6525f9f6ff0">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140909/summary.pdf?9aee285b28f50a9a5b7665c7c7b827d5">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140909/item_2i.pdf?9aee285b28f50a9a5b7665c7c7b827d5">Item 2 (i): Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140909/item_2ii.pdf?9aee285b28f50a9a5b7665c7c7b827d5">Item 2 (ii): Market expectations of TLTROs</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140909/item_4.pdf?9aee285b28f50a9a5b7665c7c7b827d5">Item 4: FX swap market overview</a> </dd> <dt>16 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20140616/agenda.pdf?546c2b0e25f1bf2e5ae1caf51fd670a6">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140616/summary.pdf?670ec0217424add5e5d02b9f66051dd4">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140616/item_1.pdf?12e62fd87ad52ad4a572cdc3ae47c6f9">Item 1: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140616/item_3.pdf?aef106c576ad68a201706b424fcb1091">Item 3: Regulation on reporting and transparency of securities financing transactions (SFT) </a><a class="pdf" href="/paym/groups/pdf/mmcg/20140616/item_4a.pdf?8dabeae831912227303ee7906e4ccfc5">Item 4: EUREPO: the secured benchmark evolution</a> </dd> <dt>18 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20140318/agenda.pdf?774caab2a60baa21cb40cd387ede2ff7">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140318/summary.pdf?2616dd0ad62d214c66b4bc652f7e512e">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140318/2014-03-18_MMCG_Item_1.pdf?ab439c8afaf0949d45416320794e3d74">Item 1: Update on the current status of regulatory work</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140318/2014-03-18_MMCG_Item_2.pdf?31d84e9f7c4b90e7a6f160f76a517cb8">Item 2: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140318/2014-03-18_MMCG_Item_3_i.pdf?697823d385f95d3c285b6707904b8c18">Item 3 – (i): Update on developments in Spain</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140318/2014-03-18_MMCG_Item_3_ii.pdf?a49cc5a2abe8453177e2e50e2f7cefbd">Item 3 – (ii): Update on developments in Italy</a> </dd> <dt>18 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20140218/agenda.pdf?131b20240233ecac5ed0a629e81d7ff9">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20140218/summary.pdf?1727cf8e527b56a13b16b0277da36639">Summary</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2013</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>10 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20131210/agenda.pdf?d9eebadceb8fbb39912e71f499946d16">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20131210/summary.pdf?fe96d17a8bf8affc23b65c0bf31b6a00">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20131210/2013-12-10_MMCG_Item_2_general_market_review.pdf?32626a13b2c8fe9e5d63284eb4838516">Item 2: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20131210/2013-12-10_MMCG_Item_4_Presentation_MMCG_update_on_liquidity_and_leverage.pdf?2486542ae378e3b32a0b1f54a282ef6b">Item 4: Update on the current status of regulatory work</a><a class="pdf" href="/paym/groups/pdf/mmcg/20131210/2013-12-10_MMCG_Item_5_Remarks_about_STEP.pdf?8fda90be1f9ec640a419572ed201695b">Item 5b: Update on the STEP+ initiative</a> </dd> <dt>3 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20130903/agenda.pdf?22a439c0c984f349176cadf6f2aa74f0">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130903/summary.pdf?22fdb0b3791a6dca625119eb14332ff0">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130903/Item1.pdf?89edb64c5f50f67fd38de7cad28c9eb0">Item 1: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130903/Item4.pdf?c1df4df03eeb2279a4ab165cf47ed211">Item 4: Eurex Clearing’s Risk Management Framework </a><a class="pdf" href="/paym/groups/pdf/mmcg/20130903/Item5.pdf?d750653c949752ce0f5fbb4491efe82f">Item 5: Main developments in the EONIA OIS market </a> </dd> <dt>17 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20130617/2013-06-17_MMCG_meeting_agenda.pdf?f9abcb950249ab80c6a192c24422a58a">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130617/2013-06-17_MMCG_Summary.pdf?689116b550503406d28e84c9ef7d6a83">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130617/Item1_Barclays_presentation_ECB_MM.pdf?4513d39f9b3fb39a05d7af842c149189">Item 1: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130617/Item2_Position_limits_for_the_Italian_Repo_Market.pdf?5b98e52ff516ee17644c2b7627bb1a2a">Item 2 – (i): Position limits for Italian repo market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130617/Item2ii_MMGC_Spanish_Repo.pdf?98853ab13e7c76db49040342e256a167">Item 2 – (ii): Spanish repo market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130617/Item3_Harald_Endres-MMCG-New-Alternative-secured-benchmarks.pdf?33ddb5533b8a26f07b61c0763cc2dc13">Item 3: Eurepo and new alternative secured market benchmarks</a> </dd> <dt>18 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20130318/20130318_MMCG_meeting_agenda.pdf?680a1fb528e660e65795e6aa0214fe51">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/2013-03-18_MMCG_Summary.pdf?35b787ddd0433d51bf40083e720be3f3">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/MMCG_18_March_Quarterly_Money_Market_Survey.pdf?f3ee380043c5651624c90bceca53578c">Item 1 – (i): Main findings of the quarterly MMCG money market survey</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/2013-03-18_MMCG_recent_market_developments.pdf?b3c731392b6aee2b23b747b5488189c8">Item 1 – (ii): Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/2013-03-18_MMCG_STEP_market.pdf?e4c11c33af3777d5a1491bf6c6944a79">Item 1 – (iii): Update on the STEP market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/2013-03-18_MMCG_Financial_transaction_tax.pdf?2cdbc5f126707fd0c37a215dd9b6f525">Item 2 – (i): Financial transaction tax proposal</a><a class="pdf" href="/paym/groups/pdf/mmcg/20130318/2013-03-18_Item_2B_FTT_and_impact_on_the_money_market_Harald_Endres.pdf?9d9d7703be1dcaf5991ac050b1e7461d">Item 2 – (ii): Financial transaction tax – potential impact on the money market</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2012</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>10 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20121210/20121210_MMCG_meeting_agenda.pdf?c5004ae692c21f9d0dd07e4eeb65523a">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20121210/20121210_MMCG_summary_10_december_2012.pdf?50c8de11be1db1a23c5d6fd43ab0a3ba">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20121210-Item_1_1_MMCG_ERC_presentation_Loan_Repo.pdf?17a4d34583dfccafd1223a73a91235f6">Item 1 – (i): ICMA ERC: Establishing a loan repo system</a><a class="pdf" href="/paym/groups/pdf/mmcg/20121210_Item_1_2_MMCG_Syndicated_loan_presentation.pdf?91a7f996979afdbfd7faa9ad188c136a">Item 1 – (ii): Syndicated loan market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20121210_MMCG_presentation_Item_4_Unsecured_market_initiatives.pdf?2c78621693988c887d6adab1eeccf74e">Item 4: European money market: a proposal for a more efficient unsecured market</a><a class="pdf" href="/paym/groups/pdf/mmcg/20121210_MMCG_presentation_Item_5_Recent_market_developments.pdf?ed9faa4c51fe5ee60199ff42792dc5c1">Item 5: Review of latest market developments </a> </dd> <dt>18 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20120918/20120918_MMCG_meeting_agenda.pdf?5d3d86de7b1ac3053a1b33558f729e3a">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120918/20120918_MMCG_Summary_18_September_2012.pdf?a12f6799e634131a71da26676b9572d9">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120918/MMCG_presentation_item_2.pdf?9e03bea05620be5600d0a1a44e9fa29e">Item 2: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120918/MMCG_presentation_item_3.pdf?797ef307595345c8fe1122085cc92cd1">Item 3: Results of the ECB Euro Money Market Survey 2012</a><a class="external" href="/paym/groups/pdf/mmcg/20120918/MMCG_group_picture.jpg?3a908dcc23f901adb7fa9dae09309db3">Group picture</a> </dd> <dt>25 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/20120625/20120625_agenda.pdf?ec7f2d7d08052c549841db6e6a193175">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120625/20120625MMCG_meeting_summary.pdf?2d2d71108f945e38ebe1d1ed83a5c946">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120625_MMCG_presentation_Item_1_2_RM_Survey_CECA.pdf?981453c8a142092bda303d0dad341569">Item 1 - (ii): The MMCG Survey on Banks’ Risk Management Practices</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120625_MMCG_presentation_Item_2_MMCG_Recent_market_developments_Jun12.pdf?82d74ce6278ffb4e7eec22a8cb3a104e">Item 2: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120625_MMCG_presentation_Item_3_STEP_Market_May_2012.pdf?f4bdb1ca5f5255524564a201a4cacba4">Item 3: Update on the Short Term European Paper (STEP) developments</a> </dd> <dt>21 March</dt> <dd> <p> Item 4: postponed </p><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/agenda_20120321.pdf?7ae2bd35156eadadc07d166ee932e8d7">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/summary_20120321.pdf?2fe5786f9087f062ab0e61f231c5c1e3">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_1_MMCG_ECB_presentation_on_collateral_Mar12.pdf?7ae2bd35156eadadc07d166ee932e8d7">Item 1 - (i): The Eurosystem's collateral framework</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_1_Collateral_presentation_Intesa_Sanpaolo_Mar12.pdf?7ae2bd35156eadadc07d166ee932e8d7">Item 1 - (ii): Temporary expansion of collateral eligibility criteria - an Italian perspective</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_1_Collateral_presentation_Societe_Generale_Mar12.pdf?3edb0f5db83936f099aa68b253569e5f">Item 1 - (iii): New Eurosystem's measures on collateral - impact on French banks</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_1_Collateral_presentation_Bankia_cleared_Mar12.pdf?b4b84eb48e49d02fbfa604c3b7fd142e">Item 1 - (iv): Changes to the Eurosystem's collateral framework - a Spanish perspective</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_2_MMCG_presentation_Recent_market_developments_Mar12.pdf?3edb0f5db83936f099aa68b253569e5f">Item 2: Review of the latest market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/20120321/Item_3_MMCG_presentation_Money_Market_Survey_Proposal.pdf?3edb0f5db83936f099aa68b253569e5f">Item 3: Proposals for the enhancement of the Euro Money Market Survey</a> </dd> <dt>1 March - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/summary_20120301.pdf?7b249bd069f9711e7264750c487b35da">Summary</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2011</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>14 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/agenda_20111214.pdf?1a343c03b9324ef2071d441b4b61aa80">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/summary_20111214.pdf?3aecbfaf370569cfa45b17e65e6985f5">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_2_Euro_Money_Market_Survey_2011.pdf?edb6a6c7c7d4899ff75e7e8cc9330951">Item 2: Main findings of the latest major money market surveys</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_3_Repo_market_update.pdf?e7c16c46fe7f7a13d0c1ea36c095c0da">Item 3: Update on the most recent repo market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_4_Recent_market_developments_Dec11.pdf?c131c3e01e8d2e1f9d6542063a581eef">Item 4: Review of the latest market developments</a> </dd> <dt>5 September</dt> <dd> <p> Item 1 - iv)- postponed </p><a class="pdf" href="/paym/groups/pdf/mmcg/agenda_20110905.pdf?f1b8d97f7bbf4f0c90be4f8a08e1a032">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/summary_20110905.pdf?0eef769caf7d0ff9664265b2fc8e2b1b">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1i_Basel_III_update.pdf?a8813a0b0f94176906218f38b2944d74">Item 1 - i) Update on Basel III</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1ii_Survey_findings.pdf?53b2dcca91f09ca9515fa9a5b2450079">Item 1 - ii) Findings of the MMCG Survey</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item1iii_Business_impact.pdf?b064cde87510cbdd191b5ea273abdde9">Item 1 - iii) Business impact</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_2_Market_developments.pdf?4fda6890cc0d983394a56f7d10eb5edd">Item 2 - Recent market developments</a>Group picture </dd> <dt>1 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/agenda_201110601.pdf?647e2bc91b9539f0845a07223a879943">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/Summary_1_June_2011.pdf?97ea3dc4c6da1f6b95fd3a4b4f818ed2">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1_CCP_procyclicality.pdf?9688bc5926877bc747bf08e8fff56081">Item 1 - The role and the impact of CCPs in the repo market CCP procyclicality</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1_Eurex_Clearing_Margining.pdf?1046a2f0b9c99de9ca2edafbbd2b08ed">Eurex Clearing Margining</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1_LCH_Margining.pdf?08c651031034a0ba9d02cc82b637d49e">LCH Margining</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_2_Recent_market_developments.pdf?a5f8d906cff4b6cec41f1116cfb99ab5">Item 2 - Recent market developments</a> </dd> <dt>14 March</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/agenda_201110314.pdf?450631cf87b1f5fa6890fbe845e00539">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/summary_201110314.pdf?8ffc468bbd6ef3f77e180e7f7808524b">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item_1_Survey_on_liquidity_risk_governance.pdf?0838f8c7de1a1f278710f5a61cc0513f">Item 1 - Survey on liquidity risk governance</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item2_Large_exposure_rules.pdf?10e9e24f017d0d9ee67f0e199895f7bb">Item 2 - Large exposure rules</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item3_Autonomous_factors.pdf?6cf5435e2a8a3915617767aed8f10c06">Item 3 - Autonomous factors</a><a class="pdf" href="/paym/groups/pdf/mmcg/Item4_Recent_market_developments_Mar11.pdf?cd4949ba01af29191c3cbd4d2b6a2968">Item 4 - Recent market developments</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2010</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>15 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/agenda_20101215.pdf?d8841d96dd9af65028b4c76262ebf6c7">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/MMCG_Summary_December_2010.pdf?57deda0a75fefb6033c0523191f70fa6">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/CCBM2_and_T2S_project_updates.pdf?b55d02f15425f7c15aeb4ab3ca892dcf">Item 1: Update on the CCBM2 and T2S projects</a><a class="pdf" href="/paym/groups/pdf/mmcg/Repo_market_update.pdf?b55d02f15425f7c15aeb4ab3ca892dcf">Item 2: The findings of the latest ICMA repo market survey</a><a class="pdf" href="/paym/groups/pdf/mmcg/Recent_market_developments_Dec10.pdf?b55d02f15425f7c15aeb4ab3ca892dcf">Item 3: Review of the latest market developments</a> </dd> <dt>8 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/Agenda_September2010.pdf?e90bc61ec82c4a88cb7930e12500241b">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/MMCG_Summary_September_2010.pdf?e9aba430cb7ec7ea4b9fba5592295f89">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Amendments_BCBS.pdf?650a05e69748f40fdb7e17d22a31aee5">Item 1: The Basel Committee’s proposal for an international liquidity risk framework</a><a class="pdf" href="/paym/groups/pdf/mmcg/Preliminary_results_MMS_2010.pdf?dc984ba4be97420ea61e668a1fdfd434">Item 2: Initial findings of the ECB Money Market Survey 2010</a><a class="pdf" href="/paym/groups/pdf/mmcg/Recent_market_developments_Sep10.pdf?a1f17e44470bf97a08174a3745c420b4">Item 3: Review of the latest market developments</a>Group picture </dd> <dt>18 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg_agenda_20100518.pdf?06997a3164039773ca3121b81314eb50">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/summary_may10.pdf?fbf64ba5c1f95bf857b4e8bee55e540a">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Recent_market_developments_May2010.pdf?28aa295ece94fcaabbccbc0b00ae76f3">Item 1 - Recent market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/Repo_market_developments_May2010.pdf?3deb419c5955eacaa293d2c954b621ed">Item 1 - Recent repo market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/BCBS_publ_cons_feedb_May2010.pdf?66d7ca26c9fa024582dfda9df1a4f14b">Item 3 - Public consultation to the BCBS proposal for an international liquidity risk framework</a> </dd> <dt>7 May - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg/Summary_TC_20100507.pdf?28aa295ece94fcaabbccbc0b00ae76f3">Summary</a> </dd> <dt>10 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_Agenda_0210.pdf?902b95479b116b7849ae08509a8f3134">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg_summary_100210.pdf?9f192ac59c3d4cb67585e296dc8db8ef">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/liquidity_risk_model.pdf?a6368cf62cd712526206af663110bfdd">Item 1 - Managing liquidity risk with an internal model</a><a class="pdf" href="/paym/groups/pdf/mmcg/basel_liquidity_framework.pdf?f1caf87fb3b69cade86f4a2c6e8ee72a">Item 2 - The Basle Committee's proposal for an international liquidity risk framework</a><a class="pdf" href="/paym/groups/pdf/mmcg/recent_market_developments_feb10.pdf?d5c5e6a3d2145967f37a80be9fb117ff">Item 3 - Recent market developments</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2009</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>19 November</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_Agenda_1109.pdf?40f676bad7f3f7be8bcdf1a4482fe6d1">Agenda</a><a class="pdf" href="/paym/groups/pdf/summary_nov09.pdf?8525ffe26f2949ec377b57137be4350c">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/recent_market_develop.pdf?7afd13397489e37532cf60eaa6a568ec">Item 1 - Recent market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/liquidity_regulationsUK.pdf?7d43e23c564884e41021e2400bda5031">Item 2 - Liquidity regulation in the UK </a><a class="pdf" href="/paym/groups/pdf/mmcg/money_market_survey.pdf?658c38d47088637674dce428ea64a103">Item 3 - ECB money market survey</a><a class="pdf" href="/paym/groups/pdf/mmcg/icma_repo_survey.pdf?e723fc39ec51206f7f581cf2bdeda090">ICMA repo survey</a> </dd> <dt>1 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_Agenda_0909.pdf?b196932d432864712a54ad51dd07205a">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg/Summary_1_September_2009.pdf?38a5df5ab50c2efc6a31a7aa10971397">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Liquidity_supervision_D-FS.pdf?9b45e61f44baa8fea685c05e604c0643">Item 1: Development of robust and internationally consistent approaches for liquidity supervision: The current state of international initiatives</a><a class="pdf" href="/paym/groups/pdf/mmcg/LargeExposures.pdf?b6fd485dc2f7d262c523f5c7c9428f4f">Large exposure legislation</a><a class="pdf" href="/paym/groups/pdf/mmcg/FRLiquidityRegulation.pdf?a2c5ad07a17b7f22c9b7ef4d9e7da69f">Item 2: Upcoming changes to the liquidity regulation in France</a><a class="pdf" href="/paym/groups/pdf/mmcg/CBPPpresentation.pdf?47495cf44a7f0aca8bc859327289a753">Item 4: Review of the initial phase of the ECB’s Covered Bond Purchase Programme</a><a class="pdf" href="/paym/groups/pdf/mmcg/Recent_market_developments_Sep09.pdf?fcdfe6493a1efb4972209dde95bb5634">Item 5: Review of the market developments since the previous meeting</a>Group picture </dd> <dt>19 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg_agenda_190509.pdf?34cbab3e34902e57bc5b5a7e201df408">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg_summary_190509.pdf?81d6fb3f8e9a40a5beb48ab1d6496b20">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/090519_Recent_market_developments.pdf?f2184e84d1aa03bcaeaa4397146438aa">Item 1 - Review of recent market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/ICMA_Repo_market_survey_Dec08.pdf?dfd44dc8c5d84bc5edbce5694475f3c8">Item 3 - Update on repo market developments</a> </dd> <dt>18 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg_agenda_180209.pdf?7dbe17a97113a1bc8dabecc22d44d5e4">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg_summary_090218.pdf?83eedd92213f419e3e09d9d0db696791">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/market_developments.pdf?9a9823c9a22edbddfe136a39f415361b">Item 1 - Review of recent market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/Update_Risk_Control_Framework.pdf?d1b4aec29aadb30c97119c7bce5c125c">Item 2 a - Update on the Risk Control Framework</a><a class="pdf" href="/paym/groups/pdf/mmcg/Update_eligibility_collateral.pdf?f0cc145afe3202d7e6227dc384f12144">Item 2 b - Update on the eligibility and the use of collateral</a><a class="pdf" href="/paym/groups/pdf/mmcg/Internal_org_JPM.pdf?9b37c3081bccb9429dbc1015004f4e79">Item 3 - Changes to banks' internal organisations</a><a class="pdf" href="/paym/groups/pdf/mmcg/Internal_org_Dexia.pdf?2011ed8e4d083560ecd4101887e07be3">Changes to treasuries’ internal organization after the financial market turmoil - 1</a><a class="pdf" href="/paym/groups/pdf/mmcg/Internal_org_Intesa.pdf?3091623f78b40b576821393c21e85310">Changes to treasuries' internal organization after the financial market turmoil - 2</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2008</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>18 November</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcg_agenda_181108.pdf?a3f6806ae2c55246e13ab2dd4baa965d">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcg_summary_081118.pdf?a6883e3d7da6a0ac80cc99df57c0b82f">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcg/Market_developments_20081118.pdf?9fd799603d01e05ec431862954cbea72">Recent market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/Repo_market_developments.pdf?39af4360e8eb620d8a2a63f358990032">Repo market developments</a><a class="pdf" href="/paym/groups/pdf/mmcg/CP_market_impact_US_CPFF.pdf?b59741bb90dd407768df86d21608b0ba">CP market impact of the US CPFF</a><a class="pdf" href="/paym/groups/pdf/mmcg/Update_collateral_framework.pdf?af232d81c38d9a40498c575f15c48f2b">Update on the collateral framework</a> </dd> <dt>29 October - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/tc_291008.pdf?349b24aa95da2fc905908f242ad32737">Summary</a> </dd> <dt>10 October - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/tc_101008.pdf?eda673e6b03ea7382212af8d5c48b5af">Summary</a> </dd> <dt>25 September - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcgs_tc_250908.pdf?600f927103168b89d59e8e993a7d119f">Summary</a> </dd> <dt>16 September - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/mmcgs_tc_160908.pdf?ca226bb55fc7190b9e78839a1bf97072">Summary</a> </dd> <dt>11 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_080911.pdf?be9bacd94b6445bfca4a93d19756d46f">Agenda</a><a class="pdf" href="/paym/groups/pdf/mmcgs_summary_11092008.pdf?176197be6166f458604caffe5d5b3b83">Summary</a><a class="pdf" href="/paym/groups/pdf/mmcgs_survey_2008.pdf?bf11a4eb5aaf938eb894b83efcf39c34">Initial findings of the 2008 ECB Money Market Survey</a><a class="pdf" href="/paym/groups/pdf/MMCG_update_on_T2S_080911.pdf?e018698ff9fc6c0e97d04937e00c986c">Update on TARGET2 Securities</a><a class="pdf" href="/paym/groups/pdf/MMCG_risk_control_framework_080911.pdf?0c2816a07766b29d5f9dab821d571347">Biennial review of risk control measures</a><a class="pdf" href="/paym/groups/pdf/MMCG_recent_market_developments_080911.pdf?fc33b509f8b871e7bc28efcf8566fcd9">Recent market developments</a>Group picture </dd> <dt>27 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_080527.pdf?d4062468435a41db852b53d90ce75fb3">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_080527.pdf?c897a11b4ed0587e9310b6857c56b7e8">Summary</a><a class="pdf" href="/paym/groups/pdf/MMCG_initiatives_080527.pdf?3be8ddf99b900f6745c422a084c27243">Initiatives in the field of liquidity risk management</a><a class="pdf" href="/paym/groups/pdf/MMCG_repo_market_analysis_080527.pdf?9c34abcf321f0bd70862bcd66197b257">Repo market analysis</a><a class="pdf" href="/paym/groups/pdf/MMCG_recent_market_developments_080527.pdf?db2d153d870dcfc48ba90200e2421d28">Recent market developments</a><a class="pdf" href="/paym/groups/pdf/MMCG_step_update_080527.pdf?5068544f5406dff52138e6239e947ada">STEP update</a><a class="pdf" href="/paym/groups/pdf/MMCG_step_statistics_080527.pdf?bfb94852bbb22ae0e3ee187b5886f904">Step statistics</a> </dd> <dt>17 March - Teleconference</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_teleconference_080317.pdf?5dc8b3c4cd8bff8fcc1e7678adcb4fc9">Summary</a> </dd> <dt>29 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_080229.pdf?f3f9f64947a20a4d7d778c368e29cd29">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_080229.pdf?0233b534ead60de40ae81e105d99a0a0">Summary</a><a class="pdf" href="/paym/groups/pdf/MMCG_eurex_repo_080229.pdf?9e38916a419173245693776e1cf363a0">Eurex Repo</a><a class="pdf" href="/paym/groups/pdf/MMCG_CCBM2_080229.pdf?5ddcc8410068b50a2b6ae26144c47fe9">Update on CCBM2</a><a class="pdf" href="/paym/groups/pdf/MMCG_market_developments_080229.pdf?e91da2ad16db56418b9aa3c0734796f2">Recent Market developments</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2007</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>4 December</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_071204.pdf?9dd12357f0faa61125b3a71fa4b0e953">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_071204.pdf?73744cc9f2d7c4eeb29baf89e5c0f346">Summary</a><a class="pdf" href="/paym/groups/pdf/MMCG_MoneyMarketSurvey2007_071204.pdf?ab1ed3f96a49dffd61ffa805c9ec2d4f">The ECB Money Market Survey 2007</a><a class="pdf" href="/paym/groups/pdf/MMCG_RecentMoneyMarketDevelopments_071204.pdf?1cb168570ee2e20db5a292aace2c153e">Recent money market developments</a><a class="pdf" href="/paym/groups/pdf/MMCG_ImpactOfBaselII_071204.pdf?ebc10b694e63b2c10e6c1862abd2dbb8">The impact of Basel II on treasury instruments</a><a class="pdf" href="/paym/groups/pdf/MMCG_UpdateOnEoniaSwapIndex_071204.pdf?53addc1a0f80a2524f218423484bfb1d">An update on the Eonia Swap Index</a> </dd> <dt>27 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_070927.pdf?84f8a771b8da35ca11a2fd52fef33bf4">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_070927.pdf?8a78ac0b012917779931e68b00c0b65e">Summary</a>Group picture<a class="pdf" href="/paym/groups/pdf/item1.pdf?46d070414abd08aaaafeb9b3567cac52">Credit claims and ABS as Eurosystem eligible collateral</a><a class="pdf" href="/paym/groups/pdf/item2.pdf?f66ac6af23ef000fe9413f40ac2461d2">Update on TARGET2-Securities</a><a class="pdf" href="/paym/groups/pdf/item3.pdf?49cf527458e3e76e1b86041f05958f6d">Recent money market developments</a> </dd> <dt>31 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_070531.pdf?765b30490a6b0c8997f80e000206a561">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_070531.pdf?cc8a38e8c82ea9ff918db2d839e42733">Summary</a><a class="pdf" href="/paym/groups/pdf/Recent_MM_developments_070531.pdf?b38a430583025c8b7c253925719c3525">Recent Money Market Developments</a><a class="pdf" href="/paym/groups/pdf/ECB_tender_rates_1w_repo_rates_1.pdf?3eddb29114b87a1dee7d3f3859f63181">Part I: The impact of collateral on the relationship between ECB tender rates and 1-week repo rates</a><a class="pdf" href="/paym/groups/pdf/ECB_tender_rates_1w_repo_rates_2.pdf?c81004c5cd8e215956bbbac76c817e13">Part II: The impact of collateral on the relationship between ECB tender rates and 1-week repo rates</a><a class="pdf" href="/paym/groups/pdf/STEP_update.pdf?3ab787b68730581c8bae43471b266157">An update on the STEP project</a><a class="pdf" href="/paym/groups/pdf/principles_CCBM.pdf?0e6c2beaacb30809bbb6e898816a6e49">The principles of the CCBM II project</a> </dd> <dt>14 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_070214.pdf?01bf3e4fe88d6eb9e023c4a0183cb85b">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_070214.pdf?0a6872f4d4410e313b7531ec801e4219">Summary</a><a class="pdf" href="/paym/groups/pdf/Recent_MM_developments.pdf?0ded63f9d9c4773876f8a078b1aca67d">Recent money market developments</a><a class="pdf" href="/paym/groups/pdf/Banknotes.pdf?f9c044aeac97e110c7933257fe27ee6a">Banknotes in circulation</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2006</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>23 November</dt> <dd> <a class="pdf" href="/paym/groups/pdf/Agenda.pdf?1deb9741922950657830705aba58482d">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_061123.pdf?1af86383ee44f21b7e1648f890d2abd5">Summary</a><a class="pdf" href="/paym/groups/pdf/MMCG_programme2007.pdf?19ba53a8057eb3e2cbad3c9f3aa9bf14">Work programme for 2007</a><a class="pdf" href="/paym/groups/pdf/Money_Markets_Survey_2006.pdf?0dfa40fd28d9a2ce6624ca3d79b10ede">Money Markets Survey 2006</a><a class="pdf" href="/paym/groups/pdf/Target2_Securities.pdf?130c4111d2f1721f20a734864fc1c547">TARGET2 Securities</a><a class="pdf" href="/paym/groups/pdf/Recent_money_market_developments06.pdf?6a75652806a8e5675bde770da7c2e246">Recent money market developments</a>Group picture </dd> <dt>20 September</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_060920_final.pdf?b3ece00d913a934653d5f224db2927bb">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_summary_060920.pdf?1c91ca2c00aed5fd1375a4a8f97e6a97">Summary</a>Joint letter of the Chairmen of the MMCG and the COGESI on credit claims<a class="pdf" href="/paym/groups/pdf/update_credit_claims.pdf?e29fbb54e17de18dce442692f11e1231">Update on credit claims</a><a class="pdf" href="/paym/groups/pdf/recent_money_market_developments.pdf?8eee767965e1845a3be2dc20085fab6b">Recent money market developments</a><a class="pdf" href="/paym/groups/pdf/update_STEP_market.pdf?ad63d1c82b143e04990055da230743a5">Update on the STEP market</a> </dd> <dt>17 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_060517_final.pdf?8ef7dacaa06ddd516cb983aaf4daceae">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_minutes_060517_final.pdf?cb73241d49ba33cd1a9aac7d69de95d2">Summary</a><a class="pdf" href="/paym/groups/pdf/Final_summary_report_web.pdf?751eeb21f423eadb02cc9bf544c7c45d">Banks' organisation of money market activities - Results of a survey among the members of the MMCG</a><a class="pdf" href="/paym/groups/pdf/MM_developments_17May06_web.pdf?751eeb21f423eadb02cc9bf544c7c45d">Recent Money Market Developments</a> </dd> <dt>16 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/MMCG_agenda_060216_final.pdf?0fd76dc688c4798140018fe4e45f7309">Agenda</a><a class="pdf" href="/paym/groups/pdf/MMCG_minutes_060216_final.pdf?ee2ced94b5d350bc0cedc43db6ac7534">Summary</a><a class="pdf" href="/paym/groups/pdf/ICMA_Survey-vs-ECB_Study_web.pdf?751eeb21f423eadb02cc9bf544c7c45d">Summary of the main findings of the comparison between the ICMA European Repo Survey and the ECB Euro Money Market Study</a><a class="pdf" href="/paym/groups/pdf/ISMA_Repo_Survey-vs-ECB_MM_Study_FINAL.pdf?751eeb21f423eadb02cc9bf544c7c45d">A comparative analysis of the ICMA European Repo Survey and the ECB Money Market Data</a><a class="pdf" href="/paym/groups/pdf/MM_developments_16Feb06_web.pdf?751eeb21f423eadb02cc9bf544c7c45d">Recent Money Market Developments</a> </dd> </dl> </div> </div> </div> <div class="in-this-section" id="pages-in-section-holder"> <h3>Alle sider i dette afsnit</h3> <div class="content-box"> </div> </div> </main> </div> <div 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