Migration end-date for SCT and SDD For SEPA to be ultimately successful, it is important to have a schedule for replacing the national payment instruments with SEPA payment instruments. We all know that it is inefficient and costly if two schemes continue to run in parallel for a prolonged period of time.
With respect to the euro area money market, the unsecured money market reached a stage of “nearperfect” integration almost immediately after the introduction of the euro.