ECB Press Release

PRESS RELEASE - The long-term evolution of TARGET, 24 October 2002.

Today, the Governing Council of the ECB took a strategic decision on the direction of the next generation of the TARGET system (TARGET2). The present TARGET system was created on the basis of the existing national real-time gross settlement system (RTGS) infrastructures, using an approach geared towards minimum harmonisation. This approach was the best way of ensuring that the system would be operational from the very start of

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