Home
Forms Library
TARGET2 COMPENSATION SCHEME - Banco de Espa a

TARGET2 COMPENSATION SCHEME - Banco de Espa a 2025

TARGET2 COMPENSATION SCHEME - Banco de Espa a Preview on Page 1

Show details

4 out of 5

58 votes

The document is a claim form for the TARGET2 Compensation Scheme issued by Banco de España. It outlines the necessary information and sections that claimants must complete to report non-executed payments due to a technical malfunction of the TARGET2 system. The form includes sections for claimant and counterparty information, accounting details, payment specifics, and a section for the central bank's assessment. It emphasizes that acceptance of compensation waives further claims against the central bank.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The easiest way to edit TARGET2 COMPENSATION SCHEME - Banco de Espa a in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Handling paperwork with our extensive and user-friendly PDF editor is straightforward. Follow the instructions below to complete TARGET2 COMPENSATION SCHEME - Banco de Espa a online easily and quickly:

Sign in to your account. Sign up with your credentials or register a free account to try the product before upgrading the subscription.
Upload a form. Drag and drop the file from your device or import it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit TARGET2 COMPENSATION SCHEME - Banco de Espa a. Easily add and underline text, insert images, checkmarks, and icons, drop new fillable areas, and rearrange or remove pages from your paperwork.
Get the TARGET2 COMPENSATION SCHEME - Banco de Espa a accomplished. Download your adjusted document, export it to the cloud, print it from the editor, or share it with others via a Shareable link or as an email attachment.

Benefit from DocHub, the most straightforward editor to promptly handle your documentation online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between TARGET2 and Euro1?

Euro1 primarily serves the needs of banks and financial institutions for large-value, same-day payment processing, while TARGET2 is more focused on providing real-time gross settlement for large-value payments.

What is the TARGET2 payment system?

TARGET2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. Central banks and commercial banks can submit payment orders in euro to TARGET2, where they are processed and settled in central bank money, i.e. money held in an account with a central bank.

Is TARGET2 the same as SEPA?

SEPA SCT is a specific service within SEPA for non-urgent, one-time credit transfers. TARGET2 handles large-value and time-sensitive euro transactions between banks, while TIPS offers real-time settlement of instant euro payments, enabling rapid fund transfers between accounts across Europe.

What is the cut off time for TARGET2?

Opening times TARGET2 is open from 7 a.m. to 6 p.m. CET on each working day, with a cut-off time of 5 p.m. CET for customer payments. Furthermore, TARGET2 starts the new business day on the evening of the previous day.

What is the difference between TARGET2 and EURO1?

Within the Eurozone, Target 2 is the RTGS system operated by the ECB, while EURO1 is the system operated by EBA Clearing. Instant payment schemes have disrupted the operation of this traditional model.

What is a TARGET2 business day?

TARGET2 Business Day means, a day in which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System or any successor is open.

What are T2 payments?

T2 is a financial market infrastructure that provides real-time gross settlement (RTGS) of payments, mostly in euros. It is operated by the European Central Bank and is the critical payments infrastructure of the euro area.

What is TARGET2 in banking?

TARGET2 is used to carry out monetary policy operations in the euro area. The central banks of EU Member States which have not yet adopted the euro also have the option to participate in TARGET2 and settle transactions in euro via the platform.

TARGET2 COMPENSATION SCHEME - Banco de Espa a 2025

Here's how it works