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ECB on Target for 2003

ECB on Target for 2003

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The European Central Bank presents its annual overview of the operations of the Target large-value payment system in 2003 and looks ahead to future developments.

Some 3,350 banks use Target to initiate payments and more than 43,000 banks -including branches and subsidiaries- are accessible through Target worldwide (and thus all the customers of these banks).

In 2003, around 261,000 payments with a value of EUR1.65 trillion were transferred on average per business day. This represents a share in overall large-value payments made in euro of almost 87% in terms of value and 58% in terms of volume.

The report provides information on Target payment flows and the system’s availability and resiliency. In addition, it describes the major developments affecting the Target system.

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