TARGET2 is the biggest RTGS (real-time gross settlement) system and settles more than 350,000 transactions worth around € trillion every day. We in the Eurosystem have also worked a lot together with market participants on two other building blocks of a single European market infrastructure: TARGET2-Securities (T2S), a single settlement platform for securities, and CCBM2, a harmonised solution for collateral management within the Eurosystem.
In order to avoid this, it is important that the social partners continue to assume their responsibilities. As regards the monetary analysis, monetary and credit growth remain strong despite some moderation over the recent past. These developments mainly reflect the stimulative effect of the low level of interest rates in the euro area.