As of 6 October 2014, the 28 member states agreed to support a harmonized implementation of T+2 as standard settlement period in OTC Secondary Markets for transferable government securities.
On 30 November 2021, the ESM Members within the Economic and Financial Committee have agreed to introduce the single-limb Collective Action Clauses on the first day of the second month following the entry into force of the Agreement amending the ESM Treaty.
ESDM press release on CAC revised June 2022