ECB publishes an independent review of TARGET incidents in 2020
28 July 2021
- 28 July 2021
The European Central Bank (ECB) has today published the report that presents the results of Deloittes independent review of incidents that affected TARGET2 and TARGET2 Securities in 2020.
- The Eurosystems response accepts Deloittes general conclusions and recommendations made in the review and commits to implement them.
- The ECB announced the launch of an independent review in November 2020 after an incident, which affected TARGET2 on 23 October 2020, caused an extended outage.
- The independent review describes the incidents in detail, outlines their consequences for TARGET Services participants and identifies their root causes.