Central Banking

ECB - Target2 Annual Report (2010)

ecb-frankfurt

The value of payments processed by the Target2 system grew by 7.6% in 2010, averaging a daily value of €2.3 trillion ($3.2 trillion), said the European Central Bank (ECB) Target2 Annual Report, published on Thursday.

Target2 is the real-time gross settlement system for the euro. It provides real-time processing, settlement in central bank money and immediate finality.

The ECB said the growth in the value of Target2 traffic was largely attributed to the fact that some European banks had

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