Eurozone’s RTGS system suffers major outage

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The eurozone’s Target2 and T2S payment systems were “adversely affected” by a “major incident” on Friday, October 23, the European Central Bank said.

The incident left Target2 unable to fully offer settlement services for around 11 hours, the ECB said in a statement issued on October 25. Central Banking understands this incident is the longest unexpected outage that the eurozone’s payment systems have experienced, though they have suffered shorter unexpected shutdowns. 

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