The European Central Bank issued a set of operational, reporting and supervisory updates across payments, statistics and governance. The main substantive measures were the approval of a new short settlement window for liquidity management in T2 during most weekends and potentially on TARGET closing days within the next two years, following a public consultation, and the publication of implementation milestones for the Integrated Reporting Framework for euro area banks. Under that timetable, a public consultation on the draft IReF Regulation is planned for the second half of 2027, a one-year pilot reporting phase is due to start in the second quarter of 2030 and first official reporting is scheduled for 2031. The Governing Council also approved in principle changes to the Eurosystem’s consolidated annual balance sheet, adding separate line items for “Profit/(loss) for the year” and “Accumulated losses carried forward” and discontinuing publication of the provisional consolidated annual balance sheet each February. The ECB said the revised presentation is intended to increase transparency and align the format more closely with the ECB’s Annual Accounts, with legal instruments to be prepared so the changes apply to the 2026 consolidated annual balance sheet to be published in June 2027. In banking supervision, the Governing Council did not object to notifying the European Banking Authority that the ECB intends to comply by 1 January 2027, for significant institutions under its direct supervision, with the Joint Guidelines on integrating environmental, social and governance risks into supervisory stress testing. Separately, the Governing Council authorised publication on 15 June 2026 of the fourth climate-related financial disclosure reports covering Eurosystem monetary policy assets, the ECB’s foreign reserves and the ECB’s non-monetary policy portfolios. It also took note of the TARGET Services Annual Report 2025 and appointed Roland Straub as Secretary for monetary policy with effect from 1 July 2026, succeeding Christophe Kamps in that role.
European Central Bank2026-06-12
European Central Bank maps Integrated Reporting Framework rollout and approves new T2 weekend settlement window
The European Central Bank approved a new short T2 settlement window for liquidity management during most weekends and potentially on TARGET closing days within the next two years, and it set the rollout path for the Integrated Reporting Framework for euro area banks. The IReF timetable provides for a draft regulation consultation in the second half of 2027, a one-year pilot from the second quarter of 2030 and first official reporting in 2031. The ECB also advanced Eurosystem balance sheet presentation changes, signaled compliance with ESG stress testing guidelines by 1 January 2027 and scheduled publication of its fourth climate disclosure reports for 15 June 2026.