TARGET2

Funds transfer.

(T2).

TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) is an interbank payment system for the real-time processing of cross-border transfers throughout the EU.

Strictly speaking it is not itself a funds transfer system, rather it links existing national payment systems.

TARGET2 is the successor to the earlier TARGET payment system.

TARGET2 replaced TARGET in 2008.

See also

• Gross settlement system
• ISO 20022
• Payments and payment systems
• TARGET Instant Payments Settlement
• Trans-European automated real-time gross settlement express transfer