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TARGET consolidation: stakeholders invited to comment on UDFS v.1.1

24 January 2019

The ECB invites market participants to comment on the user detailed functional specifications (UDFS) v1.1 in relation to the TARGET consolidation project.

The UDFS are divided into two documents. The first document covers central liquidity management – a new component that will facilitate the management of liquidity across all TARGET Services. The second document provides details of the processing of real-time interbank and customer payments and ancillary systems transactions.

The UDFS v1.1 are open to comment by all interested parties between 21 January and 5 April 2019. The feedback collected will be incorporated into a revised version of the documents to be published in the summer.