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In the present part, they continue their studies by considering the smoothing problem in the same vein. - For each integer \\(k\\geq 0\\) denote by \\(H_ k\\) the real Sobolev space on a compact interval \\([[ 0,T]]\\) of the real line R. For fixed non-negative integers \\(n_ 1,...,n_ p\\) let H be the Cartesian product \\(H=H_{n_ 1}\\times H_{n_ 2}\\times...\\times H_{n_ p},\\) then for a given \\(p\\times p\\) matrix L of ordinary linear differential operators with ''regular'' coefficient functions, and arrays \\((\\lambda_ j)_{1\\leq j\\leq N}\\) of continuous linear forms on H, real numbers \\((r_ j)_{1\\leq j\\leq N}\\), and strictly positive weights \\((\\rho_ j)_{1\\leq j\\leq N}\\), a vector-valued smoothing Lg-spline is an element \\(s\\in H\\) such that the quadratic sum functional  \\[  H\\ni f\\rightsquigarrow \\int^{T}_{0}<Lf,Lf>d\\tau +\\sum_{1\\leq j\\leq N}\\rho_ j(r_ j-<f,\\lambda_ j>)^ 2\\quad (T>0)  \\]  is minimized over H. The existence and uniqueness of \\(s\\in H\\) is an easy consequence of the orthoprojector method applied to the direct sum \\(H\\oplus R^ N\\). The authors provide characterizations of the vector-valued smoothing Lg- splines by the reproducing kernel method via the matrix-valued Green's function of L. Moreover, the paper under review relates the vector-valued smoothing spline problem to a recursive problem of linear least squares estimation for a random process with observations in additive white noise. Finally, motivated by the theory of filtering, the authors describe a three-part algorithm which is applicable to the case when the continuous linear forms \\((\\lambda_ j)_{1\\leq j\\leq N}\\) on H are defined as linear combinations of point evaluations of the derivatives of the coordinate functions associated with the element \\(f\\in 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