The Eurosystem published its roadmap for extending T2 operating hours on May 28, committing to introduce weekend settlement windows within two years. The roadmap followed a public consultation launched in June 2025 that drew responses from 125 organisations across 19 countries. Respondents represented more than two-thirds of T2 transaction volumes and values.
The Eurosystem will open T2 for one to two hours during most weekends and TARGET holidays, creating a dedicated window for liquidity transfers to and from TIPS. Rule-based liquidity transfers between TIPS dedicated cash accounts and main cash accounts will allow participants to set floor and ceiling thresholds for automatic transfers. The roadmap also includes automatic remuneration of excess liquidity in TIPS accounts at the deposit facility rate, which becomes operational in June 2026. These measures address a gap where liquidity transfers are currently unavailable for 48 consecutive hours over weekends.
Medium-term options under review include operating the Central Liquidity Management component on a near-24/7 basis with limited maintenance windows. The Eurosystem is also examining a shift of RTGS operations toward a 24/5 model. A delay of the end-of-day cut-off by up to two hours from 18:00 to 20:00 CET is under consideration, alongside opening ECMS during weekends for collateral management. A second market consultation is planned for late 2026 or early 2027 before the Eurosystem decides on further extensions.