In that sense, TARGET2 is a perfect example of a joint-effort based on the experience and expertise of all national central banks, which has led to greater financial integration in the euro area, particularly in the area of payment services provision. 3.
Challenges for the governance of the Eurosystem  The unique structure of the Eurosystem, comprising 15 NCBs and the ECB, poses challenges to its governance and organisation that need to be addressed. Overall, the close cooperation between ECB and NCB staff and the Eurosystem’s committee structure has significantly contributed to the fulfilment of the Eurosystem’s tasks by ensuring that its operations run smoothly.