SEPA-RTGS

T2 Eurosystem euro interbank RTGS system.

Definition

T2-RTGS replaces TARGET2 since 20 March 2023, on the common platform with T2S (T2/T2S Consolidation Project). ISO 20022 messages pacs.008, pacs.009, pacs.004 (Payment Return). Operations 02:30-18:00 CET.

Origin

T2 RTGS migration effective 20 March 2023 (Eurosystem).

Example in context

An Italian bank settles EUR 50M to Deutsche Bank via T2-RTGS in seconds.

Related terms

• TARGET2 — predecessor system.