Annual Target2 volumes fall, ECB announces
ECB may have to rethink cost recovery if goals are not met, it says
Transactions conducted on the eurozone's Target2 system fell to their lowest-ever level in 2015, the European Central Bank (ECB) has announced. The ECB says it may have to rethink how it covers the costs of Target2, a real-time gross settlement system.
Total traffic fell 2.6% year-on-year in 2015 after being stable in the two previous years, according to an annual report on Target2, released May 12. The fall was driven mainly by a drop in ancillary system payments, which fell 12% in 2015, the
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