The European Central Bank approved Sveriges Riksbank’s participation in T2, clearing the way for a planned 2030 shift in Swedish-krona settlement from a national service to shared European infrastructure.
The Governing Council acted on Oct. 21 after the Market Infrastructure Board reviewed the Riksbank’s preparations. In a separate decision, it amended Danmarks Nationalbank’s T2 agreement to account for changes made during Sweden’s onboarding. The ECB record says both agreements were signed afterward.
T2 settles large-value transfers in central-bank money, including euro and Danish-krone payments, the Riksbank says. Its March 2026 report sets out plans for the Riksbank’s RIX-RTGS service for Swedish-krona payments to move to T2 in 2030. The Riksbank expects shared infrastructure to improve resilience and cyber protection. It also says the transition will require changes at the bank and institutions using RIX-RTGS, common standards and a national contingency arrangement, while reducing the Riksbank’s direct influence over the system.
The Council adopted three legal opinions during October. One, adopted Oct. 1 at the request of Belgium’s minister for finances and pensions, addressed empowering an authority under the market abuse regulation to bar people from management roles at credit institutions. On Oct. 8, the Council considered governance and conflicts of interest at the Central Bank of Cyprus, and a Slovenian request concerning the right to use and access cash, electronic payment methods and free payment services.
On Oct. 22, the Council approved an accounting guideline that changes how the Eurosystem presents its consolidated annual balance sheet. The new format revises the classification of “Sundry,” “Reserves,” “Accumulated losses carried forward” and “Profit/(loss) for the year.” The ECB said the aim is to make financial performance clearer. The guideline had not appeared on EUR-Lex when the Oct. 30 record was issued.
The Council also backed extending a central-bank cooperation program to Moldova’s and Ukraine’s central banks. Deutsche Bundesbank coordinates the program, which the European Commission funds under its Instrument for Pre-Accession Assistance for 2021-27. It involves 21 national central banks. The third phase began in 2026, runs for three years and has separate components for Moldova and Ukraine and for the Western Balkans.
On Oct. 29, the Council appointed Petra Senkovic chair of its Legal Committee, effective Nov. 1, through Dec. 31, 2028. She is also due to become the ECB’s Director General for Legal Services on Nov. 1, succeeding retiring chair Chiara Zilioli.
