• main navigation
  • search
  • content area

Service Navigation

  • Contact
  • Glossary
  • DE
  • Login

Logo

Deutsche Bundesbank

Main navigation

  • de
  • A forest with birch trees photographed from below ©smallredgirl / Fotolia
    © smallredgirl / Fotolia
    Green Finance

    Climate change poses huge challenges for the financial sector, too. The Bundesbank supports the transition to a low-carbon economy.

    Green Finance
    • Overview Bundesbank
    • Organisation
      • Overview Organisation
      • Executive Board
        • Overview Executive Board
        • Professor Joachim Nagel
        • Dr Sabine Mauderer
        • Burkhard Balz
        • Lutz Lienenkämper
        • Michael Theurer
        • Professor Fritzi Köhler-Geib
      • COO and Directorates
      • Compliance and legal regulations
      • GTC and legal basis
      • Mission Statement and Strategy of the Bundesbank
      • The Bundesbank: key figures
      • Directions
    • Regional Offices and branches
      • Overview Regional Offices and branches
      • Baden-Württemberg
        • Overview Baden-Württemberg
        • Branches
        • President
      • Bavaria
        • Overview Bavaria
        • Branches
        • President
      • Berlin and Brandenburg
        • Overview Berlin and Brandenburg
        • Branch
        • President
      • Bremen, Lower Saxony and Saxony-Anhalt
        • Overview Bremen, Lower Saxony and Saxony-Anhalt
        • Branches
        • President
      • Hamburg, Mecklenburg-West Pomerania and Schleswig-Holstein
        • Overview Hamburg, Mecklenburg-West Pomerania and Schleswig-Holstein
        • Branches
        • President
      • Hesse
        • Overview Hesse
        • Branch
        • President
      • North Rhine-Westphalia
        • Overview North Rhine-Westphalia
        • Branches
        • President
      • Rhineland-Palatinate and Saarland
        • Overview Rhineland-Palatinate and Saarland
        • Branches
        • President
      • Saxony and Thuringia
        • Overview Saxony and Thuringia
        • Branches
        • President
    • Research and Research Data
      • Overview Research and Research Data
      • Research Centre
        • Overview Research Centre
        • Research Professors, Research Council and Research Fellows
        • Research Areas and Programme
        • People
        • Research Brief
        • Discussion Papers
        • Refereed Publications
        • Seminars
        • Invited Speakers Series
      • Research Data and Service Centre
        • Overview Research Data and Service Centre
        • Research Data
        • Your research project at the RDSC
        • About the RDSC
        • INEXDA
        • Publications
      • Conferences
      • Research Visit and Internship
      • Panel on Household Finances (PHF)
        • Overview Panel on Household Finances (PHF)
        • About the PHF
        • Methodology
        • User-Documentation
        • Data access and data protection
        • Links and documents
      • Survey on Consumer Expectations (BOP‑HH)
      • Survey of firms (BOP-F)
    • Green Finance
    • Library and archives
      • Overview Library and archives
      • Library
      • Historical archive
    • Euro pavilion
    • Art
      • Overview Art
      • Paintings and works on paper
      • Sculptures and installations
      • Exhibitions & viewing times
        • Overview Exhibitions & viewing times
        • Archive
      • Publications
    • Numismatics
      • Overview Numismatics
      • Collection
      • Selected objects
      • Pictures archive
      • Publications
      • Exhibition
      • Numismatic library
      • Contact
    • Money Museum
      • Overview Money Museum
      • Visitor Information
      • Exhibitions
      • Offers for Groups
      • Lectures
      • Museum discovery tours
    • History
    • International Central Bank Dialogue
      • Overview International Central Bank Dialogue
      • About us
      • International Central Banking Courses
        • Overview International Central Banking Courses
        • Application procedure
        • Past courses
      • Bilateral cooperation
      • EU-funded projects
      • Frequently asked questions
      • Representative network
      • Newsletter
      • Contact
    • Eurosystem
  • Digital Euro ©European Central Bank
    © European Central Bank
    Digital euro

    Information on the project Digital Euro

    Digital euro
    • Overview Tasks
    • Monetary policy
      • Overview Monetary policy
      • Monetary policy decisions
      • Economic analyses
      • Monetary policy framework
      • Open market operations
        • Overview Open market operations
        • Outstanding open market operations
        • Tender calendar and system
        • Test Operational Readiness
        • Regular refinancing and fine-tuning operations
        • Foreign currency transactions
        • PSPP Auctions
      • Collateral
        • Overview Collateral
        • Eligibility criteria
        • Bundesbank's tasks
        • Credit assessment
        • Mobilisation of collateral
        • Counterparty information
        • Downloads
      • Outright transactions
        • Overview Outright transactions
        • Asset purchase programme (APP)
        • Pandemic emergency purchase programme (PEPP)
        • Securities lending under the APP and PEPP
        • Transmission Protection Instrument (TPI)
        • Outright Monetary Transactions (OMT)
        • Terminated programmes
      • Minimum reserves
        • Overview Minimum reserves
        • Legal basis
        • Interest rates and reserve ratios
      • Excess reserves
      • Standing facilities
      • Contact
    • Financial and monetary system
      • Overview Financial and monetary system
      • Financial and monetary stability
        • Overview Financial and monetary stability
        • Role of the Bundesbank
        • Terms and definitions
        • Macroprudential surveillance (G-FSC)
        • Residential Mortgages of private households
        • Risks and stability analysis
        • Macroprudential tools
        • Financial Stability Forum
      • International cooperation
        • Overview International cooperation
        • ESRB and FSC
        • EU committees
        • FSB
        • BIS
        • CGFS
        • IMF
        • MDBs
        • G20
        • G7
      • Financial Stability Review
    • Financial supervision
      • Overview Financial supervision
      • Objective
      • Bundesbank's role
        • Overview Bundesbank's role
        • Bundesbank and BaFin
        • Single Supervisory Mechanism
        • Operational tasks
          • Overview Operational tasks
          • Capital and liquidity adequacy
          • On-site inspections
        • EBA
        • Basel Committee on Banking Supervision
      • Legal basis
        • Overview Legal basis
        • EU legislation
        • National legal basis
        • Basel framework
      • Individual aspects
        • Overview Individual aspects
        • Supervision priorities
        • Fit and proper assessments, Authorisation procedure, Holder control
        • Own funds requirements
          • Overview Own funds requirements
          • Own funds
          • Credit risk
          • Market risk
          • Operational risk
          • CVA risk
        • Deposit protection
        • FinTech
        • Macroprudential measures
        • MiCAR – Markets in Crypto-Assets Regulation
        • Liquidity
          • Overview Liquidity
          • Supervisory reporting of institutions of the LCR
          • Supervisory reporting of institutions with regard to the net stable funding ratio
          • Additional monitoring metrics for liquidity reporting
          • Treatment of central bank reserves in the LCR
          • Regulation on the liquidity of institutions
        • Leverage Ratio
        • Lending business
        • Risk Management
          • Overview Risk Management
          • Prudential requirements for IT (BAIT)
          • ICAAP / ILAAP
          • MaRisk
          • Machine learning methods
          • Institutional remuneration
          • Interest rate risk
        • SREP
        • Financial services institutions
        • Disclosure
        • Payment institutions and e-money institutions
        • Recovery and resolution
        • Sustainable Finance
        • Expert panels
      • Documentation
    • Cash management
      • Overview Cash management
      • The Eurosystem cash strategy
      • Euro banknotes
        • Overview Euro banknotes
        • Research and Development
        • Main features
        • 5 Euro
        • 10 Euro
        • 20 Euro
        • 50 Euro
        • 100 Euro
        • 200 Euro
        • 500 Euro
      • Euro coins
        • Overview Euro coins
        • Regular coins
        • €2 commemorative coins
        • Collector coins
      • Foreign exchange, precious metal
      • DEM banknotes and DEM coins
      • Damaged money
      • Counterfeit money
        • Overview Counterfeit money
        • Counterfeit detection
        • Detectors
      • Cash services
        • Overview Cash services
        • Business clients
        • Non-business clients
        • Central banks
      • CashEDI
        • Overview CashEDI
        • General Information
          • Overview General Information
          • Data exchange
          • Scope of services WebEDI/Filetransfer
        • Downloads and video tutorials
        • Access to CashEDI
      • Cash recycling
        • Overview Cash recycling
        • Legal framework
        • Cash processing systems
      • Environmental sustainability
      • Reproduction regulations
      • Events
    • Payment systems
      • Overview Payment systems
      • Digital euro
        • Overview Digital euro
        • At a glance
        • State of Play
        • Frequently Asked Questions
      • TARGET
        • Overview TARGET
        • TARGET Services
        • Common components of TARGET Services
        • Legal framework
        • Committee work
        • Restricted service area
      • T2
      • TARGET2-Securities
      • TIPS
      • ECMS
      • Other collateral positions
      • PSD2
      • RPS
        • Overview RPS
        • SEPA-Clearer
          • Overview SEPA-Clearer
          • Participation
          • Fees and operating hours
          • SCL-Directory
        • National cheque processing
          • Overview National cheque processing
          • Participation
          • Fees and operating hours
      • Customer access mechanism
        • Overview Customer access mechanism
        • CAM-Individual
        • CAM-SEPA
        • CAM-Instant
        • CAM-IMPay
        • Operating hours
        • Communication
        • Correspondent banking
      • Oversight
        • Overview Oversight
        • Business Continuity
      • TIBER-DE
      • Trigger Solution
      • Services
        • Overview Services
        • Bank sort codes
        • Check-digit calculation
        • IBAN rules
        • Customer Test Centre
        • SEPA
        • Forms
      • Publications
        • Overview Publications
        • Analysis
        • amplus
    • Topics
  • Suche Icon
    SDMX Web Service

    The Bundesbank provides a new procedure for the automated download of statistical data sets. The web service offers an interface for programmatic access.

    SDMX Web Service
    Screenshot of Bundesbank subsite statistics
    New subsite for statistical data

    Discover the modernized design, intuitive navigation with advanced search options for direct access to time series and real-time data with compact time series information, and the new data basket. Try out the new database now.

    New subsite for statistical data
    • Overview Statistics
    • Banks and other financial corporations
      • Overview Banks and other financial corporations
      • Banks
        • Overview Banks
        • Balance sheet items
        • Banks' profit and loss accounts
        • External position of banks (MFIs)
        • Monetary aggregates
        • OTC derivatives
        • Triennial Central Bank Survey
      • Investment companies
      • Pension funds
      • Financial vehicle corporations
      • Insurance corporations
      • Payments statistics
    • Economic activity and prices
      • Overview Economic activity and prices
      • Output
      • Orders received and stock of orders
      • Turnover
      • Employment and labour market
      • Negotiated pay rates and labour costs
      • Harmonised consumer prices
      • National Producer and consumer prices
      • Foreign trade prices
      • Property prices and prices for construction work
      • Weekly activity index
    • Enterprises and households
    • Exchange rates
      • Overview Exchange rates
      • Exchange rates, euro foreign exchange reference rates, other rates
      • Effective exchange rates
    • External sector
      • Overview External sector
      • Balance of payments
      • International investment position and external debt
      • Trade in services
      • Direct investments
        • Overview Direct investments
        • Transaction values
        • Stock data
        • Foreign affiliates statistics (FATS)
    • Macroeconomic accounting systems
      • Overview Macroeconomic accounting systems
      • National accounts
      • Financial accounts
      • Balance sheets
    • Money and capital markets
      • Overview Money and capital markets
      • Euro money market
      • Securities holdings
      • Securities issues
      • Interest rates and yields
        • Overview Interest rates and yields
        • Central bank interest rates
        • Money market rates
        • Yields on debt securities outstanding
        • Prices and yields of listed Federal securities
        • Term structure of interest rates
        • Discount interest rates
        • Interest rates on deposits and loans
        • Real interest rates on households' deposits
        • Expected real interest rates
    • Public finances
      • Overview Public finances
      • Maastricht deficit and debt level
      • Budgetary developments in Germany (national accounts)
      • Budgetary developments in Germany (public finance statistics)
    • Sets of indicators
      • Overview Sets of indicators
      • System of indicators for the German residential property market
      • System of indicators for the German commercial property market
      • Financial Soundness Indicators
      • SDDS Plus
      • Long time series
    • Sustainability
    • Time series databases
  • Cashless money transfer ©Maria Lungwitz
    © Maria Lungwitz
    Bank sort codes search

    Here you will find information on the bank sort code file and on the bank sort code update service. You can also download the bank sort code files.

    Bank sort codes search
    • Overview Service
    • Banking services for central banks
    • Banks and companies
      • Overview Banks and companies
      • Bund Bidding System (BBS)
        • Overview Bund Bidding System (BBS)
        • Documentation
        • Operating and support hours
        • Terms and conditions
        • Tests
      • Collateralmanagement Access Portal (CAP)
        • Overview Collateralmanagement Access Portal (CAP)
        • Operating and support hours
        • Terms and conditions
      • CERT-Bundesbank
      • Creditors meetings
      • ESM/EFSF Bidding System (EBS)
        • Overview ESM/EFSF Bidding System (EBS)
        • Documentation
        • Operating and support hours
        • Terms and conditions
      • Mobilisation and Administration of Credit Claims (MACCs)
        • Overview Mobilisation and Administration of Credit Claims (MACCs)
        • Customer information
        • Legal basis
        • Cross-border use of credit claims (ECMS)
        • Test environment
        • FAQs - Frequently asked questions
      • OpenMarket Tender Operation System (OMTOS)
        • Overview OpenMarket Tender Operation System (OMTOS)
        • General information
        • Contact
        • Operating and support hours
        • Documentation
        • Terms and conditions
        • Information for new customers
      • PKI - Public Key Infrastructures
        • Overview PKI - Public Key Infrastructures
        • Certificate Policies (CP) and Certification Practice Statements (CPS)
        • Explanatory notes on e-mail security
    • Dates
    • NExt
    • ExtraNet
    • Federal securities
      • Overview Federal securities
      • One-off issues
      • Issue terms
      • Issue calendar
      • Auction procedure
      • Prices and yields
      • Stripping
    • Financial sanctions
    • Newsletter
    • Reporting systems
      • Overview Reporting systems
      • External sector
        • Overview External sector
        • Amendments
        • Information on the reporting system
        • Reporting deadline
        • Electronical submission
          • Overview Electronical submission
          • Reporting number
          • NExt
          • General statistics reporting portal
          • XML file
        • FAQ and notices
        • Legal basis
        • Code lists
      • External sector forms centre
        • Overview External sector forms centre
        • Payment reports
        • Stock reports on external claims and liabilities
        • Stock reports on cross-border equity investments
      • Banking Supervision
        • Overview Banking Supervision
        • European reporting framework
        • National reporting
        • PRISMA: Refining and improving the supervisory reporting system
        • Formats (XBRL and XML)
      • Banking Supervision form centre
      • Banking statistics
        • Overview Banking statistics
        • Customer classification
        • ExtraNet / NExt
        • Legal basis
        • Revised ECB regulations
      • Banking statistics form centre
      • Financial Stability
        • Overview Financial Stability
        • Formats (XML)
        • Other legal basis
    • School service
      • Overview School service
      • Animation videos
      • Interactive features
      • Teaching materials
        • Overview Teaching materials
        • Graphics for teaching
  • Journalists at a press conference ©Frank Rumpenhorst
    © Frank Rumpenhorst
    Press

    In the press area, you will find press releases, speeches, guest contributions and interviews with Bundesbank Executive Board members as well as further press materials.

    Press
    • Overview Press
    • Press releases
      • Overview Press releases
      • Federal securities
      • EFSF/ESM
    • Speeches
    • Interviews
    • Contributions
    • Press materials
      • Overview Press materials
      • Pictures archive
      • Video footage
      • Logo
    • Press dates
    • Press contact
    • Calendar of the Executive Board
  • An open book next to a laptop ©Dieter Roosen
    © Dieter Roosen
    Studies

    This section contains Bundesbank studies and conference papers. It also includes publications resulting from the research activities of Bundesbank staff and visiting researchers.

    Studies
    • Overview Publications
    • Reports and studies
    • Research
    • Statistics
  • Three people talking ©Björn Hänssler
    © Björn Hänssler
    Employer Bundesbank

    Information on work with a special value

    Employer Bundesbank
    • Overview Career
    • Job offers
    • Employer Bundesbank
      • Overview Employer Bundesbank
      • Job stories
      • Diversity, Equity & Inclusion
    • Career opportunities
      • Overview Career opportunities
      • Work placements for university students
    • Working in Germany
    • Questions on the application
  • Contact
  • Glossary
  • Login
  1. Homepage
  2. Tasks
  3. Payment systems
  4. T2

No Page Title

  • Monetary policy
  • Financial and monetary system
  • Financial supervision
  • Cash management
  • Payment systems
    • Digital euro
    • TARGET
    • T2
    • TARGET2-Securities
    • TIPS
    • ECMS
    • Other collateral positions
    • PSD2
    • RPS
    • Customer access mechanism
    • Oversight
    • TIBER-DE
    • Trigger Solution
    • Services
    • Publications
  • Topics
Service
  • Bank sort codes search
  • Collateralmanagement Access Portal (CAP)
  • OpenMarket Tender Operation System (OMTOS)
  • Newsletter
  • Information Guide for TARGET participants

    The Information Guide for TARGET participants (Infoguide) aims at providing TARGET participants with a comprehensive set of information regarding the functioning of the future system as well as the operational procedures to be followed during normal operations but also in the case of incidents.

    • Part 1 – Fundamentals
    • Part 2 – CLM & RTGS
    • Part 3 – TIPS
    • Part 4 – T2S-cash

    Download

    • Information Guide for TARGET participants Part 1 – Fundamentals – Version R2025.OCT – October 2025
      1019 KB, PDF
    • Information Guide for TARGET participants Part 1 – Fundamentals – Version R2025.OCT – October 2025 with revisions
      1 MB, PDF
    • Information Guide for TARGET participants Part 2 – CLM & RTGS – Version R2025.OCT – October 2025
      1 MB, PDF
    • Information Guide for TARGET participants Part 2 – CLM & RTGS – Version R2025.OCT – October 2025 with revisions
      2 MB, PDF
    • Incident report for TARGET participants Part 2– CLM & RTGS
      47 KB, DOCX
    • Information Guide for TARGET participants Part 3 – TIPS – Version R2025.OCT – October 2025
      679 KB, PDF
    • Information Guide for TARGET participants Part 3 – TIPS – Version R2025.OCT – October 2025 with revisions
      1 MB, PDF
    • Information Guide for TARGET participants Part 4 – T2S Cash – Version R2025.OCT – October 2025
      359 KB, PDF
    • Information Guide for TARGET participants Part 4 – T2S Cash – Version R2025.OCT – October 2025 with revisions
      527 KB, PDF
  • Business Description Document (BDD)

    The Business Description Document gives participants a condensed overview of the TARGET2/T2S consolidation and the changes associated with the new T2 service and the common components. Basic configuration options and functionalities are described from different viewpoints – such as from a treasury or ancillary system perspective, for example.

    The Business Description Document is designed to give participants and interested readers a sound introduction to the topic. It provides the foundation for a deeper understanding of the subject matter through detailed functional documents such as the User Detailed Functional Specifications.

    Downloads

    • Business Description Document Version 3.0
      30.11.2022 | 579 KB, PDF
  • User Requirements Document (URD)

    The user requirements form the basis for the central liquidity management (CLM), the range of services in RTGS and the design of the common components.

    The user requirements were formulated in close cooperation with the market as part of the former Task Force on future RTGS Services.

    T2 Release R2026.JUN

    • Common Components URD – Version R2026.JUN
      22.01.2026 | 2 MB, PDF
    • Common Components – Annex for Central Banks URD – Version R2026.JUN
      22.01.2026 | 1 MB, PDF

    T2 Release R2025.NOV

    • Common Components URD – Version R2025.NOV
      05.08.2025 | 2 MB, PDF
  • User Detailed Functional Specifications (UDFS)

    The User Detailed Functional Specifications form the core of the application-to-application (A2A) connection to the central liquidity management (CLM) settlement service, RTGS and the common components. As well as a detailed description of the future functionalities, these documents contain all the information that participants need to adapt their applications to successfully connect with CLM, RTGS and the common components. In particular, it provides detailed information on the ISO 20022 messages used in CLM, RTGS and the common components.

    The User Detailed Functional Specifications contain links to the relevant usage guideline in MyStandards for all the messages described.

    T2 Release R2026.JUN

    • Cover Note – Publication of the final User Detailed Functional Specifications UDFS – Version R2026.JUN
      22.01.2026 | 165 KB, PDF
    • Central Liquidity Management UDFS – Version R2026.JUN
      22.01.2026 | 12 MB, PDF
    • Real-Time Gross Settlement UDFS – Version R2026.JUN
      22.01.2026 | 18 MB, PDF
    • Eurosystem Single Market Infrastructure Gateway UDFS – Version R2026.JUN
      22.01.2026 | 2 MB, PDF
    • Billing common component UDFS – Version R2026.JUN
      22.01.2026 | 2 MB, PDF
    • Business Day Management UDFS – Version R2026.JUN
      22.01.2026 | 2 MB, PDF
    • Common Reference Data Management UDFS – Version R2026.JUN
      22.01.2026 | 15 MB, PDF
    • Enhanced Contingency Solution (ECONS II) UDFS – Version R2026.JUN
      22.01.2026 | 3 MB, PDF
    • Business Validation Rules UDFS – Version R2026.JUN
      22.01.2026 | 327 KB, XLSX

    T2 Release R2026.JUN

    with revisions

    • Central Liquidity Management UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 12 MB, PDF
    • Real-Time Gross Settlement UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 18 MB, PDF
    • Eurosystem Single Market Infrastructure Gateway UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 3 MB, PDF
    • Billing common component UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 2 MB, PDF
    • Common Reference Data Management UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 15 MB, PDF
    • Business Day Management UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 2 MB, PDF
    • Enhanced Contingency Solution (ECONS II) UDFS – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 3 MB, PDF

    T2 Release R2025.NOV

    • Central Liquidity Management UDFS Version – R2025.NOV
      11.09.2025 | 13 MB, PDF
    • Real-Time Gross Settlement UDFS – Version R2025.NOV
      11.09.2025 | 20 MB, PDF
    • Eurosystem Single Market Infrastructure Gateway UDFS – Version R2025.JUN
      11.09.2025 | 4 MB, PDF
    • Billing common component UDFS – Version R2025.NOV
      11.09.2025 | 2 MB, PDF
    • Common Reference Data Management UDFS – Version R2025.NOV
      11.09.2025 | 15 MB, PDF
    • Business Day Management UDFS – Version R2025.NOV
      11.09.2025 | 2 MB, PDF
    • Enhanced Contingency Solution (ECONS II) UDFS – Version R2025.NOV
      11.09.2025 | 3 MB, PDF
    • Business validation rules UDFS – Version R2025.NOV
      11.09.2025 | 266 KB, XLSX

    T2 Release R2025.NOV

    with revisions

    • Central Liquidity Management UDFS Version – R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 9 MB, PDF
    • Real-Time Gross Settlement UDFS – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 22 MB, PDF
    • Enhanced Contingency Solution (ECONS II) UDFS – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 3 MB, PDF
    • Eurosystem Single Market Infrastructure Gateway UDFS – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 4 MB, PDF
    • Common Reference Data Management UDFS – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 15 MB, PDF
    • Business validation rules UDFS – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 276 KB, XLSX
  • User Handbooks

    The user handbooks are intended to support the use of future graphical user interfaces (GUI) in T2 (i.e. CLM and RTGS) and common components. They contain detailed information on all GUI screens and step-by-step instructions on typical workflows.

    T2 Release R2026.JUN

    • Cover Note – Publication of the draft User Handbook UHB – Version R2026.JUN
      22.01.2026 | 190 KB, PDF
    • Central Liquidity Management UHB – Version R2026.JUN
      22.01.2026 | 14 MB, PDF
    • Real-Time Gross Settlement UHB – Version R2026.JUN
      22.01.2026 | 17 MB, PDF
    • Data Warehouse UHB – Version R2026.JUN
      22.01.2026 | 35 MB, PDF
    • Business Day Management UHB – Version R2026.JUN
      22.01.2026 | 1 MB, PDF
    • Business Day Management UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 1 MB, PDF
    • Billing UHB – Version R2026.JUN
      22.01.2026 | 5 MB, PDF
    • Common Reference Data Management UHB Book 1 – Version R2026.JUN
      22.01.2026 | 26 MB, PDF
    • Common Reference Data Management UHB Book 2 – Version R2026.JUN
      22.01.2026 | 11 MB, PDF
    • Enhanced Contingency Solution II UHB – Version R2026.JUN
      22.01.2026 | 3 MB, PDF

    T2 Release R2026.JUN

    with revisions

    • Central Liquidity Management UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 14 MB, PDF
    • Real-Time Gross Settlement UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 17 MB, PDF
    • Data Warehouse UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 35 MB, PDF
    • Business Day Management UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 1 MB, PDF
    • Billing UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 5 MB, PDF
    • Common Reference Data Management UHB Book 1 – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 26 MB, PDF
    • Common Reference Data Management UHB Book 2 – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 11 MB, PDF
    • Enhanced Contingency Solution II UHB – Version R2026.JUN (mit Änderungsmarkierungen / with revisions)
      22.01.2026 | 3 MB, PDF

    T2 Release R2025.NOV

    • Central Liquidity Management UHB – Version R2025.NOV
      11.09.2025 | 15 MB, PDF
    • Real-Time Gross Settlement UHB – Version R2025.NOV
      11.09.2025 | 19 MB, PDF
    • Data Warehouse UHB – Version R2025.NOV
      11.09.2025 | 36 MB, PDF
    • Business Day Management UHB – Version R2025.NOV
      11.09.2025 | 1 MB, PDF
    • Billing UHB – Version R2025.NOV
      11.09.2025 | 5 MB, PDF
    • Common Reference Data Management – Book 1 UHB – Version R2025.NOV
      11.09.2025 | 21 MB, PDF
    • Common Reference Data Management – Book 2 UHB – Version R2025.NOV
      11.09.2025 | 11 MB, PDF
    • Enhanced Contingency Solution II UHB – Version R2025.NOV
      11.09.2025 | 3 MB, PDF

    T2 Release R2025.NOV

    with revisions

    • Central Liquidity Management UHB – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 15 MB, PDF
    • Real-Time Gross Settlement UHB – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 19 MB, PDF
    • Data Warehouse UHB – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 37 MB, PDF
    • Common Reference Data Management – Book 1 UHB – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 22 MB, PDF
    • Common Reference Data Management – Book 2 UHB – Version R2025.NOV (mit Änderungsmarkierungen / with revisions)
      11.09.2025 | 11 MB, PDF
  • Introduction for accessing SWIFT “MyStandards“ and the “MyStandards Readiness Portal”

    Communication with TARGET Services in application-to-application mode is carried out via ISO 20022-compliant messages. While the basic features of the messages are described in the respective User Detailed Functional Specifications (UDFS), the specific usage guidelines can be found in the online portal “MyStandards”, which is supported by SWIFT. To access the messages provided there, users have to complete a one-off registration process.

    Additionally, the SWIFT MyStandards Readiness Portal allows institutions to test the messages they have developed for the TARGET2/T2S consolidation project, thereby checking the compatibility of their messages with the message formats described in the UDFS and provided in MyStandards. The SWIFT MyStandards Readiness Portal is available to all participants – regardless of the network service provider through which they will connect to the future platform.

    The document "MyStandards + Readiness Portal User Manual" describes the registration process for MyStandards, the functionality of MyStandards Readiness Portal, and certain rules to follow when testing sample messages.

    Downloads

    • MyStandards + Readiness Portal User Guide
      31.03.2023 | 4 MB, PDF
  • ESMIG U2A Qualified Configurations

    The ESMIG Qualified Configurations describe the technical requirements on the user side to access the T2S, TIPS, ECMS, RTGS, CLM and CRDM GUI via the ESMIG web portal. A special section is dedicated to the description of the technical framework needed to fully implement the Non-Repudiation of Origin (NRO) functionality.  

    Downloads

    • Terms of Reference for the Go-Sign-Desktop (GSD) client upgrades schedule
      04.12.2024 | 31 KB, PDF
    • ESMIG U2A – Qualified Configurations Version 1.10
      02.12.2025 | 2 MB, PDF
  • TARGET Services Connectivity Guide

    The TARGET Services Connectivity Guide describes in general terms the connectivity to the Eurosystem Single Market Infrastructure Gateway (ESMIG). The ESMIG provides a single access point for directly connected actors to access TARGET Services. Access to the ESMIG is provided by the two Network Service Providers (NSP) selected by the Eurosystem, which are SIA-COLT and SWIFT. 

    The connectivity guide is applicable for T2S, T2 and TIPS and is valid for both production and test environments.

    Please keep in mind that this connectivity guide only is not sufficient to achieve the connectivity to ESMIG. All NSPs specific steps and technical details to achieve the connectivity to TARGET Services are described in the relevant NSP related documentation.

    Downloads

    • TARGET Services Connectivity Guide
      12.12.2024 | 752 KB, PDF
  • Starting Guide

    The Starting Guide helps T2 Service participants enter the reference data needed to be able to send and receive liquidity management and payment messages and use the T2 Service’s basic functions.

    It assists users in configuring the basic and most important reference data, and summarises the sequence in which the necessary entries have to be made.

    Downloads

    • Starting Guide TARGET2/T2S-Consolidation
      20.12.2022 | 4 MB, PDF
  • Explainer

    The Eurosystem provides so-called "explainers" with the intention of explaining various issues across UDFS in more detail. In general, explainers are based on increased customer enquiries on these topics, which have revealed an additional need for a comprehensive and condensed presentation of these specific issues.

    Downloads

    • Explainer on automated and rule-based liquidity transfers
      28.08.2020 | 66 KB, PDF
    • Explainer on authentication of queries and instructions in T2
      10.09.2020 | 94 KB, PDF
    • Explainer on Links in T2, T2S and TIPS
      27.04.2021 | 366 KB, PDF
    • Explainer on Co-Management
      05.07.2022 | 285 KB, PDF
    • Explainer on Co-Management - Example Scenarios
      14.06.2021 | 12 KB, XLSX
    • Explainer on message processing times
      14.12.2021 | 13 KB, XLSX
    • Common Reference Data Management set up for ESMIG interaction
      14.03.2022 | 682 KB, PDF
  • Change Requests

    Change requests to URD, UDFS, User Handbooks and other functional or technical documents are managed in the Eurosystem via a formalised change request process. Change requests in the context of the consolidation project can be found under the link below in the "Change requests" section under "Technical/functional documents".

    • Technical/functional documents

      ecb.europa.eu

  • Further documents

    Besides the functional documents there are further information that are not directly related to the functioning of T2. There are for example the TARGET Services Pricing Guide, further information on the T2 Ancillary System Settlement Procedures, Questions and Answers on Co-Management as well as a Glossary.

    TARGET Services pricing quide

    The TARGET Services pricing guide provides a comprehensive overview of the pricing schemes for Central Liquidity Management (CLM), the RTGS service component, T2S and TIPS. Furthermore, it gives a detailed explanation of the billing principles for the functionalities of RTGS (including ancillary systems), the cash-related part of T2S and TIPS after the T2/T2S consolidation project go live in November 2022.

    • TARGET Services pricing guide Version 2.0
      31.01.2024 | 584 KB, PDF
    • Service Items
      31.07.2024 | 60 KB, XLSX

    RTGS ancillary system settlement procedures

    Several ancillary systems, such as retail payment and high-value payment systems as well as central couterparties, are connected to the T2 service of the TARGET system. In particular, the T2 RTGS settlement service provides five dedicated settlement procedures, A to E, which are tailored to the specific needs of the individual ancillary systems. All five settlement procedures are available for the settlement of transactions with ancillary systems during daylight and night-time settlement. The following document provides an overview of the settlement procedures and the envisaged settlement times of the individual ancillary systems.

    • Ancillary systems procedures for T2
      28.06.2024 | 51 KB, XLSX

    FAQ on Co-Management

    With the co-management functionality, the administration of MCAs of other participants will be possible. Participants who are connected via a co-manager do not need an own ESMIG access, they will use the technical connection of the co-manager. In this context, the following document provides answers to frequently asked questions about co-management.

    • Frequently Asked Questions on co-management
      08.02.2023 | 368 KB, PDF

    Glossar

    The T2 Glossary explains the main abbreviations and terms used in the T2 context. It serves as a useful tool to help you study the functional project documentation and quickly look up the terms used in the TARGET2/T2S consolidation project.

    • T2 Glossary Version 3.0
      01.12.2022 | 461 KB, PDF
  • © Deutsche Bundesbank
  • Imprint
  • Freedom of Information Act
  • Sitemap
  • Accessibility
  • Privacy policy
  • User information
  • RSS