Central Banking

Central bank operations push up Target2 turnover

Euro sign outside the European Central Bank in Frankfurt

The European Central Bank (ECB) today revealed that Target2, the Eurosystem's real-time gross settlement system, was used to settle €634 trillion worth of transactions in 2012, with "operations involving central banks" playing their part in this increase.

The 2012 result represents the third year in a row turnover has increased, growing 3.5%, but it remains below the all-time high of €683 trillion reached in 2008. The number of transactions also increased, to 90.6 million, up 1.2% from 89.6 mill

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