EBA CLEARING EURO1

EBA CLEARING pan-EU large-value system.

Definition

EURO1 processes ~€200 billion per day across approximately 200,000 daily payments on average 2024. Members exclusively banks with active EU correspondent banking. ISO 20022 migration final phase March 2025 (TARGET2 alignment). Potential successor after CBPR+ migration to TARGET2.

Origin

EBA CLEARING SE (Paris), heritage ECU Banking Association 1985 then Euro Banking Association 1998, operational 1999 with euro changeover.

Usage

Euro interbank large-value payments for BNP Paribas, Deutsche Bank, UniCredit, Santander, ING, Société Générale (top 30 EU banks).

Related terms

• EBA CLEARING — opérateur.
• TARGET2 — RTGS Eurosystème jumeau.
• STEP2 — opérateur jumeau ACH.