Definition of Target2

Target2 is the real-time gross settlement (RTGS) system owned and operated by the eurosystem. Target stands for trans-European automated real-time gross settlement express transfer system. Target2 is the second generation of Target.

It acts to balance out payment shortfalls and surpluses throughout the system, by transferring funds between respective national central banks as and when needed.

See

ECB - Target2

 

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