European Central BankExhibition L1
The Eurosystem is the central banking system of the euro area, and is composed of the European Central Bank and the 19 national central banks of the countries that have adopted the euro as the common currency.
The Eurosystem has the statutory task of promoting the smooth operation of payment and securities settlement systems. It is a key provider of safe and efficient market infrastructures for the euro area and Europe.
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TARGET2 is the real-time gross settlement system of the euro. It provides settlement in central bank money and intraday finality for banks and other financial market infrastructures.
T2S is Europe’s single platform for securities settlement. By consolidating all transactions and promoting post-trade harmonisation, T2S is a major step towards a competitive and integrated European financial market.
TARGET instant payment settlement (TIPS) will support the integration of euro retail payments by fostering instant settlement across Europe. The service is scheduled to go live on 30 November 2018.
The Eurosystem fosters safe and efficient mobilisation of collateral by promoting integration, innovation and enhancement of collateral management services in the euro area.