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The TARGET2 system functioned smoothly in 2009, with a stable market share of 89% of the total value of payments in large-value euro payment systems, according to the TARGET Annual Report 2009 that has been published by the European Central Bank (ECB) today. The availability of the system reached 99.99%, which was the highest availability figure since the launch of TARGET in 1999. The report indicates that, by 31 December 2009, a total of 800 direct participants had opened an account in the TARGET2 system. These direct participants had registered 3,687 indirect participants from countries in the European Economic Area, as well as 9,988 correspondents worldwide. When all branches of these direct and indirect participants are included in the figures, more than 50,000 credit institutions...
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