Governance
The Market Infrastructure Board (MIB) is responsible for the day-to-day operation of TIPS, as well as any future enhancements. The advisory group on payments, AMI-Pay, is consulted on issues relating to the provision and modification of the Eurosystem’s payment-related services.
TIPS Consultative Group
The Market Infrastructure Board (MIB) established the TIPS Consultative Group following the launch of the service. Its objective is to provide the MIB with input from TIPS users – commercial banks, national central banks and network service providers – on topics, such as functional enhancements, testing and operations.
The TIPS Consultative Group ranks TIPS Change Requests according to their business priority.
TIPS Non-euro Currencies Steering Group (TIPS NECSG)
The TIPS NECSG is responsible for coordinating the views of non-euro area national central banks that have signed a cooperation agreement on the use of the Eurosystem’s TARGET Instant Payment Settlement (TIPS). Such institutions are sometimes referred to as the “connected CBs”. The TIPS NECSG supports the Eurosystem by providing the common position of connected CBs, as far as possible, on matters of relevance to the TIPS decision-making process.
The TIPS NECSG is composed of senior managers nominated by the respective governors of the connected national central banks. When invited by the TIPS NECSG Chairperson, senior ECB representatives and the TIPS service provider (4CB) participate.