Trans European Automated Real Time Gross Settlement Express Transfer System
From Open Risk Manual
Definition
Trans-European Automated Real-Time Gross Settlement Express Transfer System. (TARGET2) It is a real-time gross settlement system owned and operated by the Eurosystem. TARGET2 handles mostly large-value central bank transactions across 20 euro area central banks (including the European Central Bank (ECB)), as well as 5 central banks from non-euro area countries which include Bulgaria,Croatia, Denmark, Poland, and Romania, which are made instantly and with immediate finality.
