Trans-European Automated Real-time Gross Settlement Express Transfer System

Discussion in 'Wall St. News' started by ASusilovic, May 26, 2010.

  1. [​IMG]

    TARGET2 is the joint gross clearing system of the ESCB that unifies the technical infrastructure of the 26 central (note-issuing) banks of the European Union. It went live on November 19, 2007. However, Sweden and the UK have elected not to participate in TARGET2 - banks in these two countries will have to use alternative means to make large cross-border euro payments. Indeed, Lloyds TSB, Standard Chartered and HSBC have decided to participate through the Dutch central bank DNB.

    Billions changing "hands" every minute here...:D