Although individual community banks may be an important source of credit, particularly in local economies outside urban areas, neither systemic risk nor broad macroprudential considerations are significant in thinking about prudential regulation of community banks. So what should the aims of such regulation be? The basic answer is it should protect the deposit insurance fund.
As you know, T2S will be operated on full cost recovery, so the Eurosystem needs to estimate not only the total cost of building the platform and operating it, but also to make assumptions on transactions volumes many years in the future. Workshops with market participants have been held to discuss pricing issues.