ECB says Target2 outage was caused by third-party network device

European Central Bank
The European Central Bank

The outage of the eurozone’s Target2 settlement system on October 23 was caused by a “third-party network device” in the internal network of the Eurosystem of national central banks, the European Central Bank said.

“The root cause has been found in a software defect of a third-party network device used in the internal network of the central banks operating the Target2 service on behalf of the Eurosystem,” the ECB announced today (October 28).  “The Eurosystem has taken measures to prevent this

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: