TARGET2: Confirmation of go-live date for migration group 3

After the successful completion of its tests, the Eurosystem acknowledges the readiness of the banking communities of migration group 3 (composed of Denmark, Estonia, Greece, Italy, Poland and the ECB) and formally confirms that the migration of the third country wave to TARGET2 will take place as scheduled on 19 May 2008.

As a consequence, the contingency group – scheduled for migration on 15 September 2008 – will not need to be activated.

More detailed information on TARGET2 can be found on the ECB’s website at http://www.ecb.europa.eu/paym/target/target2/.