| Author (Corporate) | European Central Bank |
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| Publisher | EC |
| Publication Date | 2012 |
| Content Type | Report |
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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. The TARGET2 system functioned smoothly in 2011, with a market share of 91% of the total value of payments in large-value euro payment systems, according to the TARGET Annual Report 2011 that was published by the European Central Bank (ECB) on the 31 May 2012. |
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| Source Link | http://www.ecb.eu/pub/pdf/other/targetar2011en.pdf |
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| Subject Categories | Politics and International Relations |
| Countries / Regions | Europe |
