TARGET2 - The European system for large-value payments settlement

Paolo Bramini (), Matteo Coletti (), Francesco Di Stasio (), Pierfrancesco Molina (), Vittorio Schina () and Massimo Valentini ()
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Paolo Bramini: Bank of Italy
Matteo Coletti: Bank of Italy
Francesco Di Stasio: Bank of Italy
Pierfrancesco Molina: Bank of Italy
Vittorio Schina: Bank of Italy
Massimo Valentini: Bank of Italy

No 9, Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) from Bank of Italy, Directorate General for Markets and Payment System

Abstract: TARGET2 is the main European platform for the settlement of large-value payments in central bank money open to Central banks and commercial banks participation. TARGET2 was a prerequisite of the Monetary Union establishment and is a pillar for its functioning, for the single monetary policy conduct and the financial integration of the euro area. This publication explains its genesis and functioning, and outlines its possible future developments.

Keywords: payment systems; market infrastructures; gross settlement (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
Date: 2021-07
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wpmisp:mip_009_21

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