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).

TARGET balances

Here you can find background information on the TARGET balances.

TARGET balances
T2 – for professional use

On the following pages, T2 users as well as institutions who are preparing for future participation in T2 will find useful and further information. Amongst other services, these pages contain the main documentation and provide access to the relevant registration forms for new participants. If you have any questions, please contact your customer service team or the National Service Desk for TARGET Services. Contact details can be found in the right-hand column.

T2 – for professional use
Forms for participation in T2

Customer testing

TARGET Compensation Scheme
Functional documents

T2 release planning
Publications

Here you can find the TARGET annual reports and the Disclosure Report.

Publications