For the purpose of monetary policy implementation within the Eurosystem, the Banco de Portugal has three IT systems to support its interaction with monetary policy counterparties located in Portugal: SITENDER – the Tender System, COLMS – the Collateral and Operations Management System and TEB – the Credit Claims Handling System.
SITENDER is used for the conduct of open market operations through tender procedures. It allows the user to:
- consult the tender conditions;
- participate in tenders, i.e. to report the bids received;
- consult the tender results.
COLMS complements SITENDER with the necessary features for the management of collateral, monetary policy operations and the TARGET2-PT intraday credit line. This system allows the user to:
- have access to Eurosystem standing facilities;
- process the cash settlement of monetary policy operations in TARGET2-PT;
- manage collateral for Eurosystem credit operations;
- manage the TARGET2-PT intraday credit line;
- monitor monetary policy operations, collateral and the TARGET2-PT intraday credit line.
Access to the Eurosystem’s standing facilities is subject to the subscription of the TARGET2 Standing Facilities Module.
TEB makes it possible to assess eligibility and manage bank loans provided as collateral; COLMS is updated on an ongoing basis with all relevant information on these loans.
Access to these IT systems requires subscription of the respective service in BPnet, the Banco de Portugal’s extranet for operational communication with the financial community.
Access to SITENDER, COLMS and the TARGET2 Standing Facilities Module is an operational requirement for credit institutions wishing to be eligible counterparties for Eurosystem monetary policy operations.
Access to TEB is mandatory for counterparties wishing to use bank loans as collateral.