| Author (Corporate) | European Central Bank |
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| Publisher | EC |
| Publication Date | 2013 |
| 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 2012 TARGET Annual Report, published in May 2013 by the European Central Bank (ECB), shows that payments in euro processed through the Eurosystem’s TARGET (Trans-European Automated Real-time Gross settlement Express Transfer) system increased in 2012, in terms of both volume and value, compared with the previous year. |
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| Source Link | Link to Main Source http://www.ecb.eu/pub/pdf/other/targetar2012en.pdf |
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| Subject Categories | Politics and International Relations |
| Countries / Regions | Europe |
