[{"data":1,"prerenderedAt":79},["ShallowReactive",2],{"post-what-is-target2":3},{"id":4,"title":5,"body":6,"categories":67,"date":69,"description":70,"extension":71,"meta":72,"navigation":73,"path":74,"seo":75,"stem":76,"tags":77,"__hash__":78},"blog\u002Fblog\u002Foutput\u002Fposts\u002F2023-03-04-what-is-target2\u002Findex.md","What is TARGET2?",{"type":7,"value":8,"toc":61},"minimark",[9,21,24,27,32,39,43,46],[10,11,12,13,20],"p",{},"TARGET2 (Trans-European Automated Real-time Gross Settlement Express Transfer System) is the ",[14,15,19],"a",{"href":16,"rel":17},"https:\u002F\u002Fdavegarry.com\u002Fwhat-is-real-time-gross-settlement\u002F",[18],"nofollow","RTGS"," owned and operated by the Eurosystem. The Eurosystem is the monetary authority of the Eurozone; it consists of the European Central Bank (ECB) and the national central banks of the Eurozone countries.",[10,22,23],{},"TARGET2 is used by central banks and commercial banks to process euro payments in real-time enabling the free flow of money across the Eurozone. It is a payment system that enables EU banks to transfer money between each other in real time.",[10,25,26],{},"It’s mandatory to use TARGET2 when settling euro payments that involve the Eurosystem. It was introduced in 2007 replacing the older TARGET (Trans-European Automated Real-time Gross Settlement System) system. In 2020, it processed over 92 billion transactions with a total value of approximately €152 trillion",[28,29,31],"h2",{"id":30},"how-does-it-work","How does it work?",[10,33,34],{},[35,36],"img",{"alt":37,"src":38,"title":37},"TARGET2 Ovreview","\u002Fimages\u002F2023-03-04-what-is-target2\u002Fimage-1.png",[28,40,42],{"id":41},"who-uses-target2","Who uses TARGET2?",[10,44,45],{},"It is used by central banks and commercial banks.",[47,48,49,53],"ul",{},[50,51,52],"li",{},"Central banks will use it to manage liquidity and facilitate the flow of funds between financial institutions.",[50,54,55,56],{},"Commercial banks within the eurozone will use it to settle large value transactions. A full list of participants can be found ",[14,57,60],{"href":58,"rel":59},"https:\u002F\u002Fwww.ecb.europa.eu\u002Fpaym\u002Ftarget\u002Ftarget2\u002Fprofuse\u002Fparticipation\u002Fshared\u002Fpdf\u002FList_of_participants_target2.en.pdf?dd3ec942596e23b0d3be31c46a8e52dd",[18],"here",{"title":62,"searchDepth":63,"depth":63,"links":64},"",2,[65,66],{"id":30,"depth":63,"text":31},{"id":41,"depth":63,"text":42},[68],"rtgs","2023-03-04","TARGET2 (Trans-European Automated Real-time Gross Settlement Express Transfer System) is the RTGS owned and operated by the Eurosystem. The Eurosystem is the monetary authority of the Eurozone; it consists of the European Central Bank (ECB) and the national central banks of the Eurozone countries.","md",{},true,"\u002Fblog\u002Foutput\u002Fposts\u002F2023-03-04-what-is-target2",{"title":5,"description":70},"blog\u002Foutput\u002Fposts\u002F2023-03-04-what-is-target2\u002Findex",null,"pECYUHaD8vS0qwb2Af5WDL0xwMzO-j-YicS7p0x5ouY",1779314090579]