SSP Release 14.0
T2, one of the TARGET Services, has now replaced TARGET2 as the Eurosystem’s real-time gross settlement (RTGS) system. This change will be soon reflected on our website.
Defining the release content is subject to a pre-agreed change management process. The Eurosystem Central Banks have decided not to call for additional functional changes in scope of the release 14.0 and will also not accept change requests from TARGET2 participants. This is due to the fact that the remaining lifetime of TARGET2 will be limited to only one year after the go-live of TARGET2 release 14.0 as the T2/T2S Consolidation project is envisaged to go-live in November 2021.
The Governing Council of the ECB has decided to extend the timeline of the T2-T2S consolidation project by one year, following discussions with the euro area financial community. The project is now scheduled to go live in November 2022.