Stable turnover for Target2 in 2014 03 June 2015Germany Reporter: Becky Butcher
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Target2 turnover in 2014 remained stable compared to 2013, with an average daily value of €1.9 trillion, according to the European Central Bank’s annual report.
It processed 91 percent of the total value settled by large-value euro payment systems in 2014.
The total volume of payments dropped by 2.4 percent in comparison with the previous year, driven by a sharp decrease in customer payments linked to the migration to the single euro payments area, according to the report.
By the end of 2014, some 1,007 direct participants had opened an account in the Target2 system. These direct participants registered 837 indirect participants from countries in the European economic area, as well as 5,037 correspondents worldwide.
When all branches of these direct and indirect participants are included in the figures, more than 56,000 credit institutions across the world can be accessed via the system.
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