CCBM2 will be a common platform for managing Eurosystem collateral, i.e. the assets pledged to the Eurosystem as security for its central  2  6  Figure of January 2009. BIS Review 30/2009  bank credit operations, both on a national and pan-European basis. CCBM2 will be fully compatible with TARGET2 and TARGET2 Securities.
More recently there have been encouraging signs that the macroeconomic environment has improved somewhat. Production growth in the United States of 8,2 per cent in the third quarter of 2003 seems to confirm that the much-anticipated economic recovery is gaining momentum.