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class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.et.html">Keskpankadevaheline piiriüleste tagatiste haldamise raamistik</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.et.html">Kõlblikud väärtpaberiarveldussüsteemid</a></li><li class="clearfix"><a href="/mopo/coll/coll/ssslinks/html/index.et.html">Kõlblikud ühendused</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.et.html">Kõlblikud kolmepoolsed agendid</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.et.html">Riskide leevendamine</a><a href="#" class="subpages" title="toggle subpages for Riskide leevendamine"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.et.html">Eurosüsteemi krediidihindamisraamistik</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.et.html">Riskikontroll</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.et.html">Väärtuskärpe liigid</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.et.html">Väärtuse hindamine</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.et.html">Laenuandmete algatus</a><a href="#" class="subpages" title="toggle subpages for Laenuandmete algatus"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.et.html">Andmevormid</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.et.html">Kõlblikkusnõuded</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.et.html">Kontaktid</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.et.html">Euroala majanduse struktuur</a><a href="#" class="subpages" title="toggle subpages for Euroala majanduse struktuur"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.et.html">Majanduspoliitika</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.et.html">Eelarvepoliitika</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.et.html">Väliskaubandus</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.et.html">Efektiivsed vahetuskursid</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.et.html">Finantsstruktuur</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.et.html">Finantsturud</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.et.html">Finantsvahendajad</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.et.html">Majanduslik mitmekesisus</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.et.html">Tööturg</a></li></ul></li><li class="has-subpages"><a href="/mopo/market-contact-groups/html/index.et.html">Turgude kontaktrühmad</a><a href="#" class="subpages" title="toggle subpages 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finantsstabiilsus"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Maksed ja finantsstabiilsus</div> <p>Ülevaade meie tööst finantsstabiilsuse ning makse- ja turuinfrastruktuuride valdkonnas</p><a href="/paym/html/index.en.html">Ülevaade maksete ja finantsstabiilsuse teemadest</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">Digitaalne euro</a></li> <li><a href="/press/intro/html/index.en.html">Maksete valdkonna arengud ja sündmused</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">Dokumendid ja lingid TARGETi ekspertidele</a></li> </ul> </div><a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Värskeim finantsstabiilsuse ülevaade</div> <div class="image-date">16. mai 2024</div></a></div></div><ul><li class="clearfix"><span>Maksed</span></li><li class="has-subpages -section"><a href="/paym/target/html/index.et.html">TARGETi teenused</a><a href="#" class="subpages" title="toggle subpages for TARGETi teenused"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.et.html">Ühised elemendid</a></li><li class="has-subpages -current"><a href="/paym/target/t2/html/index.et.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.et.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.et.html">Juhtimine</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.et.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.et.html">Juhtimine</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.et.html">Faktid ja arvud</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.et.html">Hinnakujundus</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.et.html">TARGETi välkmaksete arveldussüsteem (TIPS)</a><a href="#" class="subpages" title="toggle subpages for TARGETi välkmaksete arveldussüsteem (TIPS)"></a><ul><li class="clearfix"><a href="/paym/target/tips/crossborder/html/index.et.html">Cross-border payments</a></li><li class="clearfix"><a href="/paym/target/tips/governance/html/index.et.html">Juhtimine</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.et.html">Faktid ja arvud</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.et.html">Ühinemine</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.et.html">Eurosüsteemi tagatiste haldamise süsteem</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.et.html">TARGETi dokumendid ja lingid eksperdile</a><a href="#" class="subpages" title="toggle subpages for TARGETi dokumendid ja lingid eksperdile"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.et.html">Ühised elemendid: dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.et.html">T2 dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.et.html">T2S dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.et.html">TIPS: dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.et.html">Ekspertidele</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.et.html">Lõimumine ja innovatsioon</a><a href="#" class="subpages" title="toggle subpages for Lõimumine ja innovatsioon"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.et.html">Hajusraamatu tehnoloogia</a><a href="#" class="subpages" title="toggle subpages for Hajusraamatu tehnoloogia"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.et.html">Uurimistegevus</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.et.html">Jaemaksed</a><a href="#" class="subpages" title="toggle subpages for Jaemaksed"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.et.html">Jaemakseteenuste strateegia</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.et.html">EKP kiirendav roll</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.et.html">Ühtne euromaksete piirkond (SEPA)</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.et.html">Välkmaksed</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.et.html">Tagatiste haldamise ühtlustamine</a><a href="#" class="subpages" title="toggle subpages for Tagatiste haldamise ühtlustamine"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.et.html">Rakendamine</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.et.html">Kübervastupidavusvõime</a><a href="#" class="subpages" title="toggle subpages for Kübervastupidavusvõime"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.et.html">Finantsturutaristud</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.et.html">ELi TIBER-raamistik</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.et.html">Järelevaatamine</a><a href="#" class="subpages" title="toggle subpages for Järelevaatamine"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.et.html">Maksesüsteemid</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.et.html">TARGET2-Securities</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.et.html">E-maksed</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.et.html">Väärtpaberiarveldussüsteemid ja kesksed vastaspooled</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.et.html">Kriitilise tähtsusega teenusepakkujad</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.et.html">Korrespondent- ja depoopangad</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.et.html">SecuRe Pay foorum</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.et.html">Reservihaldusteenused</a><a href="#" class="subpages" title="toggle subpages for Reservihaldusteenused"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.et.html">Põhiaspektid</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.et.html">Teenused</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.et.html">Sularahakäitlejad</a><a href="#" class="subpages" title="toggle subpages for Sularahakäitlejad"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.et.html">Sularahakäitlus</a><a href="#" class="subpages" title="toggle subpages for Sularahakäitlus"></a><ul><li class="clearfix"><a href="/paym/cashprof/cashhand/devices/html/index.et.html">Pangatähtede ehtsust kontrollivad seadmed</a></li><li class="clearfix"><a href="/paym/cashprof/cashhand/recycling/html/index.et.html">Pangatähtede taasringlus</a></li></ul></li><li class="clearfix"><a href="/paym/cashprof/cdispec/html/index.et.html">Standardse detektorliidese kirjeldus</a></li><li class="clearfix"><a href="/paym/cashprof/accreditation/html/index.et.html">Tootjate atesteerimine</a></li></ul></li><li class="has-subpages"><a href="/paym/groups/html/index.et.html">Maksete kontaktrühmad</a><a href="#" class="subpages" title="toggle subpages for Maksete kontaktrühmad"></a><ul><li class="clearfix"><a href="/paym/groups/ami/html/index.et.html">Turuinfrastruktuuride nõuanderühmad</a></li><li class="clearfix"><a href="/paym/groups/euro-cyber-board/html/index.et.html">Euro kübervastupidavusvõime nõukogu</a></li><li class="clearfix"><a href="/paym/groups/erpb/html/index.et.html">Eurojaemaksete nõukogu</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.et.html">Euroopa makseuuenduste foorum</a></li></ul></li><li class="clearfix"><span>Finantsstabiilsus</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.et.html">Ülevaade</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.et.html">Makrotasandi usaldatavusmeetmed</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.et.html">Finantsstabiilsusega tegelevad kontaktrühmad</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/stats/html/index.et.html">Statistika</a><a href="#" class="subpages" title="toggle subpages for Statistika"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Statistika</div> <p>Juurdepääs EKP statistikale ja taustteabele</p><a href="/stats/html/index.en.html">EKP statistika ülevaade</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures">Olulised näitajad</a></li> <li><a href="https://data.ecb.europa.eu/">EKP andmeportaal</a></li> <li><a href="/stats/ecb_statistics/accessing-our-data/html/index.en.html">Kõik andmeteenused</a></li> </ul> </div><a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">EKP BLOGI – Tõhustatud andmed: kuidas mõjutavad kliimamuutused panku</div> <div class="image-date">18. aprill 2024</div></a></div></div><ul><li class="clearfix"><span>Enim vaadatud</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.et.html">Euro vahetuskursid</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.et.html">EKP baasintressimäärad</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.et.html">Euro lühiajaline intressimäär (€STR)</a><a href="#" class="subpages" title="toggle subpages for Euro lühiajaline intressimäär (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.et.html">Viiteintressimäärad</a><a href="#" class="subpages" title="toggle subpages for Viiteintressimäärad"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.et.html">Euro riskivabade intressimäärade töörühm</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.et.html">Inflatsioon</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.et.html">Euroala tulukõverad</a></li><li class="clearfix"><span>Kogu statistika ja taustteave</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.et.html">Kõik olulised statistikaandmed</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.et.html">Juurdepääs andmetele</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.et.html">Põhiteemad</a><a href="#" class="subpages" title="toggle subpages for Põhiteemad"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.et.html">Statistika haldamine ja kvaliteediraamistik</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.et.html">Koostöö ja standardid</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.et.html">Pankade aruandlus</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.et.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.et.html">AnaCredit: küsimused ja vastused</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.et.html">Avalikud konsultatsioonid</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.et.html">Pangandussektori dialoog EKPSi statistika ja integreeritud aruandluse küsimustes</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.et.html">Statistiliste andmete vahetuse mudel (SDMX)</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.et.html">Granulaarsete andmete võrgustik (INEXDA)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.et.html">Euro</a><a href="#" class="subpages" title="toggle subpages for Euro"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Euro</div> <p>Ühisvääringuga seotud teemad</p><a href="/euro/html/index.en.html">Ülevaade eurost</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Sularahakäitlejad</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Statistika pangatähtede ja müntide kohta</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Euro vahetuskursid</a></li> </ul> </div><a href="/stats/ecb_surveys/space/html/ecb.space2024~19d46f0f17.en.html" class="item image"> <img src="/euro/shared/img/cover.png" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Euroala tarbijate maksealaste hoiakute uuring (2024)</div> <div class="image-date">19. detsember 2024</div></a></div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.et.html">Digitaalne euro</a><a href="#" class="subpages" title="toggle subpages for Digitaalne euro"></a><ul><li class="has-subpages"><a href="/euro/digital_euro/features/html/index.et.html">Põhiomadused</a><a href="#" class="subpages" title="toggle subpages for Põhiomadused"></a><ul><li class="clearfix"><a href="/euro/digital_euro/features/privacy/html/index.et.html">Digital euro and privacy</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/how-it-works/html/index.et.html">Kuidas digitaalne euro toimib</a></li><li class="clearfix"><a href="/euro/digital_euro/why-we-need-it/html/index.et.html">Miks on digitaalne euro vajalik?</a></li><li class="clearfix"><a href="/euro/digital_euro/progress/html/index.et.html">Ajakava ja kulg</a></li><li class="has-subpages"><a href="/euro/digital_euro/timeline/html/index.et.html">Projektist lähemalt</a><a href="#" class="subpages" title="toggle subpages for Projektist lähemalt"></a><ul><li class="clearfix"><a href="/euro/digital_euro/timeline/stakeholder/html/index.et.html">Juhtimine ja sidusrühmade kaasamine</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/profuse/html/index.et.html">Tehniline teave ja uurimistöö</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/rulebook/html/index.et.html">Projekti reeglistik</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/faqs/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="clearfix"><span>Sularaha</span></li><li class="has-subpages"><a href="/euro/cash_strategy/html/index.et.html">Eurosüsteemi sularahastrateegia</a><a href="#" class="subpages" title="toggle subpages for Eurosüsteemi sularahastrateegia"></a><ul><li class="clearfix"><a href="/euro/cash_strategy/cash_role/html/index.et.html">Sularaha roll</a></li><li class="clearfix"><a href="/euro/cash_strategy/issuance/html/index.et.html">Emiteerimine ja ringlus</a></li><li class="clearfix"><a href="/euro/cash_strategy/acceptance-cash/html/index.et.html">Juurdepääs sularahale ja selle aktsepteerimine maksevahendina</a></li><li class="clearfix"><a href="/euro/cash_strategy/faqs/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/html/index.et.html">Pangatähed</a><a href="#" class="subpages" title="toggle subpages for Pangatähed"></a><ul><li class="has-subpages"><a href="/euro/banknotes/future_banknotes/html/index.et.html">Uued pangatähed</a><a href="#" class="subpages" title="toggle subpages for Uued pangatähed"></a><ul><li class="clearfix"><a href="/euro/banknotes/future_banknotes/redesign/html/index.et.html">Kujunduse muutmise protsess</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/current/html/index.et.html">Praegu ringluses olevad pangatähed</a><a href="#" class="subpages" title="toggle subpages for Praegu ringluses olevad pangatähed"></a><ul><li class="clearfix"><a href="/euro/banknotes/current/denominations/html/index.et.html">Nimiväärtused</a></li><li class="clearfix"><a href="/euro/banknotes/current/design/html/index.et.html">Kujunduselemendid</a></li><li class="clearfix"><a href="/euro/banknotes/current/security/html/index.et.html">Turvaelemendid</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/ac/html/index.et.html">Võltsimisvastane tegevus</a></li><li class="clearfix"><a href="/euro/banknotes/production/html/index.et.html">Pangatähtede tootmine ja varud</a></li><li class="clearfix"><a href="/euro/banknotes/damaged/html/index.et.html">Kahjustatud ja tindiplekkidega pangatähed</a></li><li class="has-subpages"><a href="/euro/banknotes/environmental/html/index.et.html">Keskkond, tervishoid ja ohutus</a><a href="#" class="subpages" title="toggle subpages for Keskkond, tervishoid ja ohutus"></a><ul><li class="clearfix"><a href="/euro/banknotes/environmental/pef/html/index.et.html">Toote keskkonnajalajälg</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/research/html/index.et.html">Teadus- ja arendustegevus</a></li><li class="clearfix"><a href="/euro/banknotes/images/html/index.et.html">Pangatähtede pildid ja reprodutseerimiseeskirjad</a></li><li class="clearfix"><a href="/euro/banknotes/info/html/index.et.html">Teabe- ja koolitusmaterjalid</a></li></ul></li><li class="has-subpages"><a href="/euro/coins/html/index.et.html">Mündid</a><a href="#" class="subpages" title="toggle subpages for Mündid"></a><ul><li class="clearfix"><a href="/euro/coins/2euro/html/index.et.html">2 €</a></li><li class="clearfix"><a href="/euro/coins/1euro/html/index.et.html">1 €</a></li><li class="clearfix"><a href="/euro/coins/50cents/html/index.et.html">50 senti</a></li><li class="clearfix"><a href="/euro/coins/20cents/html/index.et.html">20 senti</a></li><li class="clearfix"><a href="/euro/coins/10cents/html/index.et.html">10 senti</a></li><li class="clearfix"><a href="/euro/coins/5cents/html/index.et.html">5 senti</a></li><li class="clearfix"><a href="/euro/coins/2cents/html/index.et.html">2 senti</a></li><li class="clearfix"><a href="/euro/coins/1cent/html/index.et.html">1 sent</a></li><li class="clearfix"><a href="/euro/coins/common/html/index.et.html">Ühine külg</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.et.html">2-eurosed mälestusmündid</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.et.html">Turvaelemendid</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.et.html">Meenemündid</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.et.html">Sularahale üleminek</a><a href="#" class="subpages" title="toggle subpages for Sularahale üleminek"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.et.html">Horvaatia (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.et.html">Leedu (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.et.html">Läti (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.et.html">Eesti (2011)</a></li><li class="clearfix"><a href="/euro/changeover/slovakia/html/index.et.html">Slovakkia (2009)</a></li><li class="clearfix"><a href="/euro/changeover/cyprus/html/index.et.html">Küpros (2008)</a></li><li class="clearfix"><a href="/euro/changeover/malta/html/index.et.html">Malta (2008)</a></li><li class="clearfix"><a href="/euro/changeover/slovenia/html/index.et.html">Sloveenia (2007)</a></li><li class="clearfix"><a href="/euro/changeover/2002/html/index.et.html">Sularahale üleminek 2002. aastal</a></li></ul></li><li class="has-subpages"><a href="/euro/exchange/html/index.et.html">Liikmesriigi vääringu vahetamine euro vastu</a><a href="#" class="subpages" title="toggle subpages for Liikmesriigi vääringu vahetamine euro vastu"></a><ul><li class="clearfix"><a href="/euro/exchange/au/html/index.et.html">Austria</a></li><li class="clearfix"><a href="/euro/exchange/be/html/index.et.html">Belgia</a></li><li class="clearfix"><a href="/euro/exchange/hr/html/index.et.html">Horvaatia</a></li><li class="clearfix"><a href="/euro/exchange/cy/html/index.et.html">Küpros</a></li><li class="clearfix"><a href="/euro/exchange/et/html/index.et.html">Eesti</a></li><li class="clearfix"><a href="/euro/exchange/fi/html/index.et.html">Soome</a></li><li class="clearfix"><a href="/euro/exchange/fr/html/index.et.html">Prantsusmaa</a></li><li class="clearfix"><a href="/euro/exchange/de/html/index.et.html">Saksamaa</a></li><li class="clearfix"><a href="/euro/exchange/gr/html/index.et.html">Kreeka</a></li><li class="clearfix"><a href="/euro/exchange/ir/html/index.et.html">Iirimaa</a></li><li class="clearfix"><a href="/euro/exchange/it/html/index.et.html">Itaalia</a></li><li class="clearfix"><a href="/euro/exchange/lv/html/index.et.html">Läti</a></li><li class="clearfix"><a href="/euro/exchange/lt/html/index.et.html">Leedu</a></li><li class="clearfix"><a href="/euro/exchange/lu/html/index.et.html">Luksemburg</a></li><li class="clearfix"><a href="/euro/exchange/mt/html/index.et.html">Malta</a></li><li class="clearfix"><a href="/euro/exchange/nl/html/index.et.html">Madalmaad</a></li><li class="clearfix"><a href="/euro/exchange/pt/html/index.et.html">Portugal</a></li><li class="clearfix"><a href="/euro/exchange/slovakia/html/index.et.html">Slovakkia</a></li><li class="clearfix"><a href="/euro/exchange/sl/html/index.et.html">Sloveenia</a></li><li class="clearfix"><a href="/euro/exchange/es/html/index.et.html">Hispaania</a></li></ul></li><li class="clearfix"><a href="/euro/visually/html/index.et.html">Teave vaegnägijatele</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/pub/html/index.et.html">Uurimistegevus</a><a href="#" class="subpages" title="toggle subpages for Uurimistegevus"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Uurimistegevus</div> <p>Põhjalikud uuringud ja ekspertanalüüsid, mis hõlmavad erinevaid teemasid ja valdkondi</p> <a href="/pub/html/index.en.html">EKP uuringute ülevaade</a> <hr> <div class="nav-title">Lingid</div> <ul>  <li><a href="/press/conferences/html/index.en.html">Konverentsid ja seminarid</a></li> <li><a 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class="clearfix"><span>Väljaanded</span></li><li class="has-subpages"><a href="/press/govcdec/html/index.et.html">EKP nõukogu otsused</a><a href="#" class="subpages" title="toggle subpages for EKP nõukogu otsused"></a><ul><li class="clearfix"><a href="/press/govcdec/mopo/html/index.et.html">Rahapoliitilised otsused</a></li><li class="clearfix"><a href="/press/govcdec/otherdec/html/index.et.html">Muud otsused</a></li></ul></li><li class="clearfix"><a href="/press/accounts/html/index.et.html">Rahapoliitikaistungite protokollid</a></li><li class="has-subpages"><a href="/press/economic-bulletin/html/index.et.html">EKP majandusülevaade</a><a href="#" class="subpages" title="toggle subpages for EKP majandusülevaade"></a><ul><li class="clearfix"><a href="/press/economic-bulletin/articles/html/index.et.html">Artiklid</a></li><li class="clearfix"><a href="/press/economic-bulletin/focus/html/index.et.html">Fookus</a></li><li class="clearfix"><a 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<ul class="-links"> <li class="-twitter"><a href="javascript:window.open('https://twitter.com/intent/tweet?url='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on X"></a></li> <li class="-facebook"><a href="javascript:window.open('https://www.facebook.com/sharer/sharer.php?u='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on Facebook"></a></li> <li class="-linkedin"><a href="javascript:window.open('https://www.linkedin.com/shareArticle?url='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" 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Central banks and commercial banks can submit payment orders in euro to T2, where they are processed and settled in central bank money, i.e. money held in an account with a central bank. </p> <p>T2 settles payments related to the Eurosystem’s monetary policy operations, as well as bank-to-bank and commercial transactions. </p> <p>Every five days, T2 processes a value close to the entire euro area GDP, which makes it one of the largest payment systems in the world. More than 1,000 banks use T2 to initiate transactions in euro, either on their own behalf or on behalf of their customers. Taking into account branches and subsidiaries, more than 43,000 banks worldwide and all their customers can be reached via T2. </p> <p>T2 offers enhanced and modernised services to the market. The ISO 20022 messaging standard is used, as is also the case for <a href="/paym/target/t2s/html/index.en.html" data-label="inglise keel">T2S</a> and <a href="/paym/target/tips/html/index.en.html" data-label="inglise keel">TIPS</a>. The RTGS system is able to facilitate payments in several currencies, if the respective central bank decides to do so. </p> <p>The TARGET Services share several features to improve liquidity management across them and make payments more cost-effective and efficient. </p> <a href="/paym/target/coco/html/index.en.html" data-label="inglise keel">TARGET Services shared features</a> <h2>Objectives of T2 </h2> <ul><li>Support the implementation of the Eurosystem’s monetary policy and the functioning of the euro money market</li><li>Minimise systemic risk in the payments market, i.e. the possibility of a single actor causing an entire market to collapse</li><li>Ensure the efficient processing of payments in euro</li></ul> <p>By meeting these objectives, T2 enables payments to flow safely and efficiently across Europe, and contributes to the stability of the euro.</p> <h2>How does T2 work? </h2> <p>Payment orders are submitted to the platform for processing and are settled one by one on a continuous basis in central bank money, with immediate finality. There is no upper or lower limit for their value. T2 is used by central banks and commercial banks for monetary policy transactions, interbank payments and commercial payments. </p> <p>The availability and cost of liquidity are two crucial issues for the smooth processing of payments in RTGS systems. T2 has a range of features allowing efficient liquidity management, including payment priorities, timed transactions, liquidity reservation facilities, limits, liquidity pooling and optimisation procedures. It also shares several features with the other TARGET Services to improve liquidity management across them.</p> <p>T2 is open for the processing of payments every working day. The system is closed on the following days:</p> <ul><li>1 January (New Year's Day)</li><li>Good Friday</li><li>Easter Monday</li><li>1 May (Labour Day) </li><li>25 December (Christmas Day)</li><li>26 December</li></ul> <h2>Participation </h2> <p>T2 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 T2 and settle transactions in euro via the platform. Its multi-currency feature allows settlement in other currencies should the respective central bank decide to do so.</p> <p>Other financial institutions can connect to T2 via a participating central bank. They can choose from several different access options:</p> <ul><li><strong>Direct participant</strong>: a financial institution established in the European Economic Area (EEA) that holds an RTGS account in central bank money in T2, sends and receives payments on its own behalf or on behalf of its customers</li><li><strong>Multi-addressee access</strong>: branches and subsidiaries of a direct participant in the EEA that are authorised to channel payments through the account of the direct participant</li><li><strong>Addressable BIC</strong>: a correspondent of a direct participant that holds a Bank Identifier Code (BIC), irrespective of its place of establishment</li></ul> <p>The <a href="/services/data-protection/privacy-statements/html/ecb.privacy_statement_T2.en.html" data-label="inglise keel">T2 privacy statement</a> sets out how T2 processes personal data in accordance with EU data protection rules. </p> <h2>Pricing </h2> <p>The RTGS system is subject to two pricing schemes: the <strong>RTGS core pricing scheme</strong>, which applies to payment banks and central banks with regard to the processing of payment orders and liquidity transfers, and the<strong> ancillary system pricing scheme</strong>, which applies to ancillary systems settling. </p> <p>Under each of the two pricing schemes, participants can choose between a lower fixed monthly fee plus a fixed transaction fee; or a higher fixed monthly fee plus a volume-based transaction fee (i.e. a fee that gradually reduces as the number of transactions increases). </p> <p>The <a href="/paym/target/coco/shared/docs/ecb.pricingcoco_target.en.pdf" data-label="inglise keel">TARGET Services pricing guide</a> provides users with a comprehensive overview of the pricing schemes and a detailed guide to the billing principles that apply to the various types of transactions, as well as to the entities to be invoiced. </p> <h2>TARGET and TARGET2: the predecessors of T2 </h2> <p>In response to changing market demands, the Eurosystem launched a review of its RTGS services in December 2017. The objective was to consolidate the technical and functional aspects of the predecessor to T2, TARGET2, and <a href="/paym/target/t2s/html/index.en.html" data-label="inglise keel">T2S</a>, with the aim of improving efficiency and reducing operating costs. </p> <p>TARGET2 remained in operation until March 2023 when T2 was launched. </p> <p>TARGET2 was running smoothly for over a decade, ensuring safety and efficiency in European payments. However, payments changed significantly during this period due to technological developments, new regulatory requirements and changing consumer demands. </p> <p>TARGET2 replaced the first-generation RTGS system for the euro. TARGET commenced operations on 4 January 1999, a few days after the launch of the euro. The single currency needed a payment service to support monetary policy operations and to settle euro payments across national borders in the EU. </p> <p>TARGET was built by linking together the different RTGS structures that already existed at national level as there was not sufficient time to develop a single system. However, this decentralised structure proved inefficient and costly in the long term. The Banque de France, Deutsche Bundesbank and Banca d'Italia were given the tasks of developing the new platform and acting as a service provider on behalf of the Eurosystem. TARGET2 was launched on 19 November 2007 and fully replaced the first-generation TARGET by May 2008. </p> <a href="/press/pubbydate/html/index.et.html?topic=Payment%20systems?skey=TARGET%20Annual%20Report">TARGET Annual Reports</a> <a href="/paym/target/target2/facts/html/index.en.html" data-label="inglise keel">TARGET2 facts and figures</a> </div> <div class="in-this-section" id="pages-in-section-holder"> <h3>Kõik selle jaotise teemad</h3> <div class="content-box"> </div> </div> </main> </div> <div id="feedback" class="hidden"> <div class="content-box"> <div class="initial"> <div class="title">Kas veebileht vastas teie ootustele?</div><a class="button -inverted-color" id="feedback-yes">Jah</a> <a class="button -inverted-color" id="feedback-no">Ei</a></div> <div class="second hidden"> <div class="title">Millised probleemid tekkisid?</div><a class="button -inverted-color" id="feedback-broken">Veebileht ei tööta</a> <a class="button -inverted-color" id="feedback-content">Veebilehe sisu ei ole kasulik</a> <a class="button -inverted-color" id="feedback-design">Kujundus ei ole piisavalt atraktiivne</a> <a class="button -inverted-color" id="feedback-other">Muu probleem</a></div> <div class="final hidden"> <div class="title">Täname tagasiside eest!</div> </div> </div> </div> <footer id="ecb-doc-footer"> <div class="ecb-footerTop"> <div class="sitemap"><a href="/home/sitedir/html/index.en.html" title="Veebilehe struktuur">Veebilehe struktuur</a></div> <div class="socialLinks"><a class="inline-link" href="/home/socialmedia/html/index.en.html" title="Ametlikud sotsiaalmeediakanalid">Jälgi meie sotsiaalmeediakanaleid</a> <a href="http://twitter.com/ecb" class="twitter" title="X"></a> <a href="https://www.linkedin.com/company/european-central-bank" class="linkedin" title="LinkedIn"></a> <a href="https://www.instagram.com/europeancentralbank/" class="instagram" title="Instagram"></a> <a href="https://www.youtube.com/user/ecbeuro" class="youtube" title="YouTube"></a> <a href="https://www.flickr.com/photos/europeancentralbank/sets/" class="flickr" title="Flickr"></a> <a href="https://soundcloud.com/europeancentralbank" class="soundcloud" title="SoundCloud"></a> <a href="/rss" class="rss" title="RSS-uudisvoog"></a></div> </div><div class="ecb-footerBottom"><p><span>Autoriõigus 2025, </span>Euroopa Keskpank</p> <div class="ecb-serviceNavigation"> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Kasulikud lingid</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/careers/vacancies/html/index.en.html">Töövõimalused</a></li> <li><a href="/services/glossary/html/index.en.html">Sõnastik</a></li> <li><a href="/services/topics/html/index.et.html">Teemad</a></li> <li><a href="/services/links/html/index.en.html">Muud asutused ja organisatsioonid</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Veebilehe kasutamine</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/disclaimer/html/index.en.html">Piiratud vastutus ja autoriõigus</a></li> <li><a href="/services/data-protection/privacy-statements/website/html/index.en.html">Isikuandmete kaitse</a></li> <li><a href="/services/languagepolicy/html/index.en.html">Keelevalik</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Üldpõhimõtted</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/data-protection/html/index.en.html">Andmekaitse</a></li> <li><a href="/services/html/accessibility-statement.en.html">Veebilehe juudepääsetavus </a></li> <li><a href="/ecb/access_to_documents/html/index.en.html">Juurdepääs dokumentidele</a></li> </ul> </div> </div> <div class="ecb-serviceNavigationBox"> <div class="ecb-serviceNavigationBoxTitle">Kontaktandmed</div> <div class="ecb-serviceNavigationBoxLinks"> <ul> <li><a href="/services/contacts/html/index.en.html">Kontaktandmed</a></li> <li><a href="/services/contacts/address/html/index.en.html">Aadress</a></li> <li><a href="/services/contacts/working-hours/html/index.en.html">Tööaeg</a></li> </ul> </div> </div> </div> </div>  </footer> <style> [data-count]{ position: relative; 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