TARGET (Trans-European Automated Real-Time Gross Settlement Express Transfer System) is a centralised system which includes payment systems in euro enabling settlements in central bank money and offering central liquidity management services, settlement of payment transactions in real time on a gross basis and services for the settlement of ancillary systems (T2 RTGS service), allowing payments related to securities settlement (TARGET2-Securities-T2S) and instant payments settlement (TARGET Instant Payments Settlement –TIPS).
The new consolidated TARGET platform was launched on 20 March 2023 at entire Eurosystem level, including the Republic of Croatia as a member of the euro area.
The Croatian National Bank, within the sphere of its confidence, collects and processes standardised data from the area of statistics pertaining to the TARGET-HR system and its services.
The publishing of statistical data related to the TARGET-HR system and its services falls within the shared competence of the CNB as the operator of TARGET-HR, the national component of the system, and the European Central Bank as the main supervisory authority of the TARGET system.
The procedure of collecting and statistically processing relevant data for the TARGET-HR payment system and the methodology of reviewing and publishing statistical data will be implemented towards the end of 2023.
TARGET statistical data: ECB's Payment Statistics