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==History== ==History==


TARGET was the name of the original ] system of the euro area. It was replaced with ] in 2007-2008, itself replaced with T2 in March 2023. TARGET was the name of the original ] system of the euro area. It was replaced with ] in 2007–2008, itself replaced with T2 in March 2023.


T2S was introduced in 2015. TIPS was introduced in November 2018.<ref>{{cite web |website=European Central Bank |url=https://www.ecb.europa.eu/paym/target/tips/html/index.en.html |access-date={{date|2024-12-24}} |title=What is TIPS?}}</ref> T2S was introduced in 2015. TIPS was introduced in November 2018.<ref>{{cite web |website=European Central Bank |url=https://www.ecb.europa.eu/paym/target/tips/html/index.en.html |access-date={{date|2024-12-24}} |title=What is TIPS?}}</ref>

Revision as of 01:35, 25 December 2024

Payment services of the Eurosystem

TARGET Services (for Trans-European Automated Real-time Gross-Settlement Express Transfer) are payment services operated by the Eurosystem for the euro area and beyond on its proprietary financial market infrastructures. As of late 2024, these included T2 for interbank payments, TARGET2-Securities (T2S) for securities transactions, and TARGET Instant Payment Settlement (TIPS) for retail payments.

A fourth service, the Eurosystem Collateral Management System (ECMS), is intended to complement the TARGET suite in the future.

History

TARGET was the name of the original real-time gross settlement system of the euro area. It was replaced with TARGET2 in 2007–2008, itself replaced with T2 in March 2023.

T2S was introduced in 2015. TIPS was introduced in November 2018.

See also

References

  1. "T2 and the settlement of gross payments". Banca d'Italia. Retrieved 24 December 2024.
  2. "TARGET Services". European Central Bank. Retrieved 24 December 2024.
  3. "What is TIPS?". European Central Bank. Retrieved 24 December 2024.


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