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The ECB will focus more on the establishment and enforcement of common IT architecture standards in order to reduce the complexity and maintenance costs of the IT landscape .

It is necessary to lay down provisions concerning the EFSF cash account which is to be opened with the ECB for the operation of the Loan Facility Agreements ,

With regard to the second work stream , a common cost methodology for TARGET2 to be applied by all central banks had to be developed .

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In this context it seems therefore desirable not to start work on defining or implementing measures in the areas of payments and clearing , but rather to acknowledge the work already done by the competent authorities .

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