General Search
Multiple search words are automatically linked with "AND". Text enclosed in quotation marks (") returns only the pages in which this text occurs exactly. With the search filters next to the results you have the possibility to further limit your search.
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National Cash Forum
The National Cash Forum facilitates the ongoing and open exchange of information on cash issues between the relevant stakeholders in the cash cycle in Germany. It is expected to meet up to twice a year.
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Functional documents
There are various documents available describing the structure and functioning of T2. There are for example the Information Guide for TARGET participants, the User Requirements Document, the User Detailed Functional Specifications, the User Handbooks or our Starting Guide which shall ease the first steps for new participants. These documents and even more can be found in this area.
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Fragen und Antworten Studie zur wirtschaftlichen Lage privater Haushalte
No English translation available
Fragen und Antworten zur Studie zur wirtschaftlichen Lage privater Haushalte
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What is T2?
T2 is the TARGET Service for the liquidity management of all TARGET Services and the settlement of individual payments. It consists of the components CLM (Central Liquidity Management) and RTGS (Real-Time-Gross-Settlement).
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2022 – Care €10 collectors’ coin with a mint-turquoise polymer ring
The German government has decided to mint a €10 collector coin entitled “Care”, to be issued on 12 May 2022.
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Non-standard monetary policy measures from 2020
The Eurosystem’s monetary policy from 2020 was shaped by the global outbreak of the COVID-19 pandemic and the surge in inflation from 2021. This ultimately led to a series of Eurosystem policy rate hikes totalling 450 basis points (from July 2022 to September 2023).
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Expert Panel on the minimum requirements for risk management (MaRisk)
The main tasks of the expert panel are promoting dialogue on the activities of international working groups and to provide a platform for exploring industry-wide issues.
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Announcement of auction – 6-months Bills of the European Stability Mechanism (ESM)
29 KB, PDF
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Invitation to bid – Treasury discount paper (Unverzinsliche Schatzanweisungen – “Bubills”) of the Federal Republic of Germany
174 KB, PDF
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Zusätzliche längerfristige Refinanzierungsgeschäfte
No English translation available
Der EZB-Rat hat beschlossen, zur Unterstützung der Bankenliquidität und der Geldmarktaktivitäten vorübergehend zusätzliche längerfristige Refinanzierungsgeschäfte (additional longer-term refinancing operations - LTRO) durchzuführen.