The service ensures the speedy and final settlement of national and crossborder payments in central bank money. Each working day, an average of around 350,000 payments with a value of about 1.7 trillion Euro – which equals half the German GDP last year – are processed by the system.
TARGET2 is just one example for critical financial market infrastructure for which Bundesbank is in charge. Others include TARGET2 Securities, a service for the settlement of securities in central bank money. Or think of our monetary policy operations, which provide the banking system with liquidity. A proper functioning of these services is crucial for the stability for our financial system.