Structure

TARGET is strictly speaking no independent transfer system. One cannot lead a remittance order directly at TARGET. It connects only already existing national systems. TARGET makes Interlinking available components and safety components, over which the national system among themselves can communicate. Over TARGET mainly individual payments between banks are completed. However the system is used also for hasty transfers by enterprises and in rare cases also private individuals; the banks can decide on it even. At the end of each daily a daily final tuning is made by the EZB. Communication between the national systems is made thereby mainly by the Swift network.

Participant

Participants are (conditions: January 2006) the EU15-Staaten, the EZB as well as Poland and Slovenia. The Polish system (Sorbnet euro) is not directly tied up, but did over the Italian new BIREL.Slowenien without the development of an own system. Approximately 20 Slovenian banks are directly to the German RTGSplus attached and windings over it their exchange in euro off. Altogether one can directly or indirectly reach approx. 40,000 credit institutes in completely Europe by means of the target system and the attached national systems.

A transfer over TARGET costs the attached bank to approximately 1 euro. Over the target system per day 300,000 accountings with a total volume of approx. 2 trillion euro are made on the average. Starting from November 2007 TARGET is to be replaced by TARGET2.

See also

• TARGET2
• RTGSplus

Articles in category "TARGET (banking)"

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