- ECB will launch an independent review of an incident that affected its real-time gross settlement system TARGET2
- Independent review to launched on payments infrastructure
- An initial investigation determined that a software defect in a network device was the specific technical cause of the incident
- The independent review will also take into account other incidents that affected TARGET Services during 2020
- The main findings of the review shared with market participants and made public by the second quarter of 2021
- The Eurosystem committed to identifying lessons learned from the recent incidents in full transparency
