It has been working very well from its start and provides the core, integrated and borderless infrastructure that Europe needs. To give you a flavour of the scale of its service, in the first week after completing final migration TARGET2 processed 1.72 million payments amounting to a total of 16.5 trillion euro.
TARGET2 is a practical example of a successful delivery by the Eurosystem and banks, working together, of integrated infrastructure which embodies the process of harmonization.