US EditionECB's $1.9 trillion-a-day trade system suffers outage
- The European Central Bank fixed a significant outage in its payment system that affected trillions of euros in transactions during the day.
- The outage in the Target 2 system lasted about seven hours, impacting scheduled payments and trading timelines.
- The ECB confirmed the issue was due to a hardware defect with no indication of foul play, impacting financial liquidity for future transactions.
- Communication issues affected the TARGET 2 Securities platform as well, which is used for trades across 24 depositories, including Euroclear.
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25 Articles
Don't panic if pay isn't on the account yet!
It's already the last month, but you still don't have a salary in the account? Don't worry, it doesn't have to be your employer's fault – there's another reason. Because of "technical problems" the European Central Bank is currently experiencing delays ... Many people were surprised in the morning – although the last day of the month is and the weekend is at hand, the well-earned salary was missing from the account. Before you complain to the em…
ECB's $1.9 trillion-a-day trade system suffers outage
The European Central Bank said on Thursday its system that handles $1.9 trillion a day in transactions across the region was suffering an outage, leaving banks and companies scrambling to figure out the potential impact.
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