Values of Target2 transactions slide by a fifth
European Central Bank (ECB) data out Tuesday revealed a 19.3% dip in the value of payments processed through Target2, its real-time gross settlement system for large-value euro payments.
The ECB said in it's Annual Report on Target2 that the value of transactions in the latter had dipped by almost a fifth to an average daily value of €2.15 trillion ($2.65 trillion) and the number of transactions by 6.5% to 345,768. The data follow a 10.7% increase in turnover in 2008.
The central bank pinned the
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