TARGET2

TARGET2 is the Eurosystem real-time gross settlement system for euro-denominated payments. It is used for high-value and time-critical interbank transfers across the euro area.

TARGET2 settles payments in central bank money and supports monetary policy operations and financial market infrastructure. It is operated by the Eurosystem national central banks.

Related Terms

RTGS

Real-Time Gross Settlement

RTGS is a funds transfer system where money moves from one bank to another on a real-time and gross ...

SEPA

Single Euro Payments Area

SEPA is a payment integration initiative of the European Union for simplification of bank transfers ...

TIPS

TARGET Instant Payment Settlement

TIPS is the TARGET2 Instant Payment Settlement service that enables instant euro payments across Eur...

EUR

Euro

EUR is the official currency of the Eurozone, used by 20 of the 27 European Union member states. It'...

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