Innovative methods of hacking and stealing come to the fore regularly and the industry has to take prompt action to safeguard business and customer interest. As per information published by CSIS (Center for Strategic and International Studies, US), between March 2010 and April 2011, the FBI identified twenty incidents in which the online banking credentials of small-to-medium sized U.S. businesses were compromised.
*  *  *  Ladies and gentlemen, I am very pleased to welcome you to Frankfurt today on the occasion of the signing of the T2S Framework Agreement by a first group of central securities depositories, or CSDs. T2S is an important project for the Eurosystem and for Europe.