Central Banking

ECB's Target 2 delayed

The ECB has announced that the launch of Target 2 has been further delayed. The first group of countries will move to the EU's new large-value payment system on 19 November 2007, 11 months later than originally planned.

The ECB was not able to give any technical reasons for the delay, but said that it was necessary to give sufficient time for testing for market participants. The governing council had said in June that the date would be in the second half of 2007.

The second progress report on

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