TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) is a second-generation payment system operated by the Eurosystem. The system is used in all the euro area counties, and also in some non-euro area EU countries, i.e. Bulgaria, Croatia, Denmark, Poland and Romania. Judicially, TARGET2 is divided into individual national systems, but is operated on a single technical platform, jointly provided and operated by the central banks of Germany, Italy and France. TARGET2 provides its customers with harmonised services, prices and other terms and conditions in all the participating countries. The system has in place flexible liquidity management services and various optional supplementary services. In Finland, these services are provided by the component system TARGET2-Suomen Pankki.

The Eurosystem executes its monetary policy operations in the TARGET2 system. In addition, major payment systems use TARGET2 for settlement purposes. The participating credit institutions may transfer euro-denominated payments in real time from their accounts with the central bank. For example, a bank that is a customer of the Bank of Finland can, via TARGET2, send a payment to a bank that holds an account at the central bank of the Netherlands. TARGET2 has some 1,000 direct participants, and via these participants, a total of about 55,000 MFIs are accessible. The average daily value of TARGET2 transactions is over EUR 1,900 billion. The TARGET2-Suomen Pankki component has 20 direct participants, and the daily value of payments transferred in the system is more than EUR 37 billion.

TARGET2 is available between 8 a.m. and 7 p.m. from Monday to Friday, with the exception of some official holidays. The access criteria for the TARGET2-Suomen Pankki component are described in the rules of the system. For more information on how to connect to TARGET2, please contact the Bank of Finland's TARGET Services (targetservices(at)