TARGET2

Eurosystem interbank euro RTGS.

Definition

TARGET2 was migrated on 20 March 2023 to T2-RTGS on the common platform with T2S. ISO 20022 messages pacs.008, pacs.009, camt.054. Operated by ECB with Banca d'Italia, Deutsche Bundesbank, Banque de France.

Origin

TARGET (1999), TARGET2 (2007), T2-RTGS (2023).

Example in context

A French bank settles EUR 50M to Deutsche Bank via TARGET2 in seconds.

Related terms

• T2S — twin platform.