Launching of the TARGET2 Romania euro payment system
04.07.2011
Today, 4 July 2011, Banca Naţională a României has successfully launched the first euro payment system in Romania, with 23 participants (22 credit institutions and the BNR). TARGET2-România is the national component of the TARGET2 euro payment system (Trans-European Automated Real-time Gross settlement Express Transfer system).
TARGET2 was launched on 19 November 2007 and is provided by the Eurosystem (the European Central Bank and the national central banks of the countries that have adopted the euro) under the responsibility of the Governing Council of the ECB. The technical platform of the system is operated on behalf of the Eurosystem by three national central banks, namely Banca d'Italia, Banque de France and Deutsche Bundesbank.
The introduction of TARGET2-România is a step forward towards European integration and euro adoption, by implementing efficient payment systems tailored to European standards. The BNR is the 24th national central bank that connects to TARGET2 of the 28 central banks making up the European System of Central Banks (including the European Central Bank).
More detailed information on TARGET2 is available on the BNR’s official website.