Central Banking

ECB's TARGET Annual Report 2007

In 2007, use of TARGET, a large-value payment system in the euro area, surged in terms of both volume and value of transactions business, the annual report on the system states.

The volume of transactions increased by 16%, the value of transactions by 12%.

TARGET's market share in terms of value remained at its 2006 level of 89%. Market share in terms of volume of traffic rose by one percentage point to 61%.

The annual report also describes the replacement of the decentralised TARGET system by

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