The ECB published the TARGET Annual Report 2008 which provides background information on TARGET, its performance and the main developments that took place in 2008.
The ECB published the TARGET Annual Report 2008 which provides background information on TARGET, its performance and the main developments that took place in 2008.
Ø Chapter I documents the establishment of the first-generation system and the development and implementation of its successor, TARGET2;
Ø Chapter II details TARGET activity in 2008; and
Ø Chapter III contains two articles on topical issues: the impact that the financial turmoil is having on TARGET, and the effect of the migration to TARGET2.
The payments processed by the TARGET system increased by 1% in volume terms and 10% in value terms by comparison with the previous year, with an average daily volume of 369,966 transactions, representing an average daily value of €2,667 billion. The system’s market share remained stable, with around 90% of total payment values in euro large-value payment systems being executed via TARGET.
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