PRESS RELEASE

Information guide for credit institutions using TARGET

18 December 2000

The ECB is today publishing a new version of the Information guide for credit institutions using TARGET. This publication provides a standard set of information on TARGET functionality and answers the most frequently asked questions on TARGET. Its aim is to enable credit institutions to make the most efficient use of the TARGET system.

The previous versions of the document were distributed via each national central bank to the participants in the national real-time gross settlement (RTGS) system concerned.

In early 2000 the Eurosystem and TARGET users agreed on the need to update the current Information Guide to reflect the experience gained during the first year of operation of TARGET. They also decided to make it more accessible by publishing it on the ECB's website in parallel to its distribution by the ECB and the national central banks. A small ad hoc-working group composed of representatives of the banking community (nominated by European banking associations), of national central banks and of the ECB has prepared the third edition of the text.

The new edition of the Information Guide is primarily intended for use as a "web document". It is published on the ECB's website [TARGET - General information] and contains hyperlinks to related documents which can be found elsewhere on the website of the ECB or on those of the national central banks or other organisations. However, interested parties can also obtain hard copies of the Information Guide from the national central bank of their country or from the ECB's Press Division.

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