PRESS RELEASE

TARGET price structure

10 June 1998

The Governing Council of the European Central Bank yesterday decided on the price structure for cross-border TARGET payments. Based on new information regarding the price level required to ensure full cost recovery, the fee applied will be lower than previously estimated.

The fee charged for cross-border TARGET transactions (excluding VAT) will be based on the number of transactions sent by a TARGET participant within a single RTGS system, according to the following degressive scale:

  • EUR 1.75 for each of the first 100 transactions per month;
  • EUR 1.00 for each of the next 900 transactions per month;
  • EUR 0.80 for each subsequent transaction in excess of 1,000 per month.

The fee will be charged by the sending national central bank only and will be identical, irrespective of the destination or size of the payment. It will cover the handling and processing costs of the transaction, with the exception of the communication cost between the ordering participant and the sending national central bank.

No additional entry or periodic fees will be applied to users of the cross-border TARGET service.

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