Eesti Pank joins the euro-area settlement system TARGET

On Monday, 20 November, Eesti Pank joins TARGET, the settlement system of euro-area (Eurosystem)central banks. This enables banks and other financial institutions using the system via Eesti Pank to make euro payments faster than before. Eesti Pank joins the settlement system via the Eurosystem Member State Banca d'Italia.

Estonia's decision to join TARGET was approved by the Governing Council of the European Central Bank (ECB) on 2 November. The ECB published their decision today.