The European Central Bank said the Eurosystem will deploy the planned November 2026 releases for T2, T2S, TIPS and the Eurosystem Collateral Management System on November 28, two weeks later than scheduled, while retaining their planned scope. The decision concludes its reassessment following SWIFT’s delay to Standards Release 2026, which requires stakeholders to make changes to support the TARGET Services releases. Stakeholders using application-to-application connections based on ISO 20022 messages should continue preparations and plan for user testing to begin on October 9. To support cross-border payment processing during the transition, T2 will temporarily continue to allow fully unstructured postal addresses in real-time gross settlement messages. T2 participants must continue implementing structured or hybrid addresses while remaining operationally able to receive unstructured addresses for as long as the temporary measure applies.
2026-09-04European Central Bank
European Central Bank says Eurosystem delays TARGET Services releases to November 28 and adopts temporary T2 address measure
The Eurosystem will move its planned T2, T2S, TIPS and Eurosystem Collateral Management System releases from November 14 to November 28 following SWIFT’s standards delay. User testing remains scheduled to start on October 9. T2 will temporarily accept fully unstructured postal addresses while participants continue migrating to structured or hybrid formats.