TARGET Services Annual Reports

The Annual Report provides background information on TARGET Services, an overview of the system's business development, as well as key developments made over the past year.

The former reports from 2008 can be found in the following ZIP-file.

Disclosure Report

The Disclosure Report assesses compliance of the T2 system design with the basic principles for payment systems that are important for the stability of the financial system. The latest report was prepared by the Eurosystem’s payment systems overseers, led and coordinated by the ECB. 

As soon as a new version is available, it will be published it here.