Customers can draw on high-quality services for their euro-denominated reserve assets through a single access point in the euro area by establishing a relationship with one single Eurosystem service provider.
Each of the Eurosystem service providers offers, as a minimum, the same set of services to the framework’s customers under harmonised conditions. Furthermore, these standardised services are offered at attractive terms. One aspect of this involves the remuneration rates applicable to certain services and in particular the remuneration of cash balances. Remuneration rates on the reserve management services in general take into account the special characteristics of financial and legal security as well as the confidentiality offered by the Eurosystem while also being consistent with overall market conditions. For further information on these rates, please contact your chosen Eurosystem Service Provider.
Customers’ euro payments are processed rapidly and securely via TARGET2, the premium payment infrastructure established in the European Union. This payment system provides a uniform platform for processing such payments. TARGET2, a real-time gross settlement system, plays an indispensable part in reducing systemic risk by effecting settlement in central bank money with immediate finality.