TARGET Annual Report 2016

Author (Corporate)
Publication Date May 2017
ISBN 978-92-899-3001-7
ISSN 1725-4884
EC QB-AC-17-001-EN-N
Content Type

TARGET stands for Trans-European Automated Real-time Gross settlement Express Transfer system. It is the Eurosystem’s real-time gross settlement system for the euro. The first-generation TARGET system was replaced by TARGET2 in May 2008. In TARGET2, the decentralised structure of the first-generation system was replaced by a single technical platform, or the 'Single Shared Platform' (SSP), to which all payment orders are submitted for processing. Three Eurosystem central banks – the Banca d’Italia, the Banque de France and the Deutsche Bundesbank – jointly provide the SSP for TARGET2 and operate it on behalf of the Eurosystem.

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EU Bookshop: Some ECB publications can also be downloaded via the EU Bookshop website
ECB: Publications
ECB: Payments & Markets: TARGET2

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