CHAPTER 7 TARGET2, the Eurosystem’s RTGS system
TARGET2 is the real‑time gross settlement system owned and operated by the Eurosystem Implemented in2007‑2008, it is the second generation of TARGET (Trans‑European Automated Real‑time Gross‑settlement Express Transfer system), a system launched in 1999 alongside the single currency and designed to settle
TARGET2 – a single Europe for individual payments
Real-time Gross Settlement Express Transfer System and the 2 for the second generation of the system Compared to its forerunner system TARGET, which was an association of 17 different components, TARGET2 is operated on a single technical platform (known as the single shared platform, SSP) On 19 May 2008, TARGET was replaced by TARGET2
Guideline of the European Central Bank of 5 December 2012 on
national real-time gross settlement (RTGS) systems and the ECB Payment Mechanism (3) TARGET2 is characterised by a single technical platform called the Single Shared Platform (SSP) TARGET2 is legally structured as a multiplicity of payment systems, where the TARGET2 component systems are harmonised
THE CENTRAL BANKING SYSTEM OF THE EURO AREA
FROM TARGET TO TARGET2 INNOVATION AND TRANSFORMATION THE PRESENT TARGET SYSTEM With €1 9 trillion settled every day,TARGET,1 the EU-wide real-time gross settlement (RTGS) system,is one of the three largest wholesale payment systems in the world, alongside Fedwire in the United States and Continuous Linked
Money & Credit: Eurozone TARGET2
* TARGET2 is an interbank payment system for the real-time processing of cross-border transfers throughout the European Union TARGET (Trans-European Automated Real-time Gross Settlement Express Transfer System) was replaced in November 2007 by TARGET2
Payment, clearing and settlement systems in the euro area
The technically centralised TARGET2 system, owned and operated by the Eurosystem, provides for real-time gross settlement of euro payments in central bank mon (see ey Section 3 2 1) It is used for the settlement of central bank operations, interbank transfers and other large-value or urgent euro payments TARGET2 is an essential vehicle for
Payment, clearing and settlement systems in Germany
Automated Real-time Gross settlement Express Transfer (TARGET) system for the settlement of individual payments in euros (as a rule, large-value or urgent payments) Primarily, TARGET was developed to serve the needs of the Eurosystem’s monetary policy and to ensure a smooth and efficient settlement of euro payments, particularly as regards
TARGET2-România The RTGS system for interbank and customer
transactions in TARGET2 are: – the advantages of a real-time gross settlement (RTGS) system: i e time-criticality and immediate finality of the transaction; – the additional benefits offered to TARGET2 customers: i e the speed of the system, the enhanced liquidity management features and the high security level;
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