Central Banking

Europe's new large-value payment system on target

Europe's new large-value payment system is on schedule to go live in 2007 says the European Central Bank in its third annual report on TARGET2.

The slim six-page report, published on Tuesday 21 November, says "the overall project is progressing as planned" and confirms the initial go-live date of 17 November 2007 as well as the two later dates for national central banks to move to the new system. The report also notes the changes in the fee structure announced in July, which includes a new lower

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