ANNEX
Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2), operated by the Eurosystem measured against the criteria set out in Article 1(3) of Regulation (EU) No 795/2014 (ECB/2014/28).
Criterion | TARGET2 |
eligible to be notified as a system pursuant to Directive 98/26/EC of the European Parliament and of the Council (1) by a Member State whose currency is the euro or operator is established in the euro area | TARGET2 components notified as systems pursuant to Directive 98/26/EC by a Member State whose currency is the euro: Criterion fulfilled TARGET2-OeNB TARGET2-BE TARGET2-CY TARGET2-Eesti TARGET2-Suomen Pankki-järjestelmä TARGET2-Banque de France TARGET2-BBk TARGET2-ECB TARGET2-GR TARGET2-Ireland TARGET2-Banca d'Italia TARGET2-Latvija TARGET2-LU TARGET2 Malta TARGET2-NL TARGET2-PT TARGET2-Banco de España (TARGET2-BE) TARGET2-SK TARGET2-Slovenija |
(b)(i) total daily average value of euro-denominated payments processed exceeding EUR 10 billion | Total daily average value of euro-denominated payments processed: EUR 2,777 trillion Criterion fulfilled |
(b)(ii) market share at least one of the following: — 15 % of total volume of euro-denominated payments; or — 5 % of total volume of euro-denominated cross-border payments; or — 75 % of total volume of euro-denominated payments at the level of a Member State whose currency is the euro | |
(b)(iii) cross-border activity (i.e. participants established in a country other than that of the SIPS operator and/or cross border links with other payment systems) involving five or more countries and generating a minimum of 33 % of the total volume of euro-denominated payments processed | |
(b)(iv) used for the settlement of other FMIs | TARGET2 component systems are used for the settlement of FMIs Criterion fulfilled |
(1) Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).