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TARGET2 is the RTGS system for the euro, offered by the Eurosystem. It is used for the settlement of central bank operations, large-value euro interbank transfers as well as other euro payments. It provides real-time processing, settlement in central bank money and immediate finality.
See also the TARGET Annual Report 2009
See also the TARGET Annual Report 2008
See also the TARGET Newsletter Q4-2009
See also the TARGET Newsletter Q2-2009
See also the Information Guide for TARGET2 Users (latest version 3.0)
A real-time gross settlement system (RTGS), such as TARGET2 is a payment system in which processing and settlement take place continuously ("in real time") rather than in batch processing mode. Like this, transactions can be settled with immediate finality. "Gross settlement" means that each transfer is settled individually rather than on a net basis.
Last update: Thu 2 Sep 2010 19:00
The TARGET2 system opened the new business day and is operating normally.
As scheduled, the night-time settlement will start at 19:30 and the day trade phase at 07:00 of the next calendar day
(but not on a Saturday, Sunday or TARGET2 holiday)
This box will be updated if interruptions impact on payments processing in TARGET2. (During night-time settlement the page will be updated when the TARGET2 day trade phase starts.)
The Eurosystem cannot be held liable for the information provided on the T2IS.
A dedicated access-restricted website is available for TARGET2 users.
If you are connected to TARGET2 you can request the access details for this website from your national central bank. If you are a third party, please contact the ECB TARGET, TARGET2 hotline.
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1) Austria, Cyprus, Germany, Luxembourg, Lithuania, Latvia, Malta and Slovenia. 2) Belgium, Finland, France, Ireland, Netherlands, Portugal and Spain. 3) Denmark, Estonia, ECB, Greece, Italy and Poland. |
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4 January 1999 - 19 May 2008 |
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19 November 2007 |
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Migration wave 2) 18 February 2008 |
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Migration wave 3) 19 May 2008 |
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Slovakia 1 January 2009 |
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Bulgaria 1 February 2010 |
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Life-time of TARGET
Launch of TARGET2
