Central Banking

Annual Target2 volumes fall, ECB announces

The European Central Bank

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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