TARGET Annual Report, 1999-2000

In May 2001 the European Central Bank (ECB) published the first edition of the TARGET Annual Report. This document presents an overview of the first two years of TARGET operations. TARGET is the most important large-value payment system in the euro area, and one of the most important in the world. An analysis of the business and technical performance of the system is provided for 1999 and 2000, the period under consideration. In addition, the report describes the major developments which have taken place in the organisational and operational frameworks, as well as shedding some light on the future development of the system and on the forthcoming challenges.

In future, the report will be published on an annual basis.

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