TARGET2 and TARGET2-Slovenija
TARGET2 is a pan-European real-time gross settlement (RTGS) payment system that provides settlement in central bank money with immediate finality. It is designed for the settlement of urgent and large value payments, namely interbank payments, customer payments, payments related to monetary policy operations and payments executed within other systems and financial market infrastructures. In terms of the value of transactions settled, TARGET2 is one of the largest and systemically most important payment systems in the world. It functions on a single technical platform, and is operated by the Eurosystem as a whole.
In formal legal terms the TARGET2 payment system consists of national components operated by central banks. The Slovenian component is named TARGET2-Slovenija, and is operated as a payment system by the Bank of Slovenia.