TARGET Services (T2)
Table of Contents
Short history of TARGET system
TARGET Services Infrastructure
Addressing payments in T2: Participation types
Addressing payments: T2 with CBPR+ leg (Addressable BIC)
Addressing payments: T2 with CBPR+ leg (Multi-Addressee)
I am going to present here very briefly the history of TARGET system which is a fascinating topic. We will discover how a system based on interlinking of national RTGS systems went through technical centralization of settlement and evolved in the complex payment infrastructure encompassing Central Bank Operations, RTGS payments, Ancilliary Systems settlement, Securities settlement as well as Instant Payments settlement.