1 Amendments of Caroline NAGTEGAAL related to 2020/2037(INI)
Amendment 218 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses that having to comply with margin calls from European central counterparties after the closing time of TARGET2 with non-euro currencies puts European banks at a considerable disadvantage, especially in times of market stress such as the early weeks of COVID-19; underlines that the extension of opening hours of TARGET2 to match exchange opening hours would strengthen the role of the euro and the autonomy of European capital markets; welcomes the consolidation of TARGET2- T2S with extended openings hours as scheduled for November 2022; urges the ECB and other stakeholders to continue their efforts for the success of European capital markets; suggests that an extension of openings hours of TARGET2 should be considered as a temporary solution until November 2022.