OREANDA-NEWS. By the end of March 2009 the process of the bank’s joining the main clearing systems of the European Union - TARGET2 and EBA Step1/Euro1 through the first class European bank was completed, reported the press-centre of BTA Bank.   

In 02.04.09 LLS BTA Bank became an indirect member of these systems (only banks from the EU countries have the right of direct membership). Participation in European clearing systems suggests the Bank is prestigious and its payment system is of high level. Moreover it gives additional advantages to LLS BTA Bank allowing to accelerate processing of bank orders for the clients abroad.

TARGET 2 (Trans-European Automated Real-time Gross Settlement Express Transfer System ) is the system of payments in EUR. a payment system interlinking the decentralized national euro RTGS systems and the payment mechanism of the ECB. As one of the top three gross settlement systems worldwide, TARGET provides real time processing of euro payments across the EU with intraday finality. The main aim of TARET 2 is to accelerate payments between European financial institutions and guarantee their safety.

EBA (Euro Banking Association) was established in June, 1998 by 52 largest international banks. At the present moment there are 70 shareholders and EBA secures operation of the following systems: EURO1, STEP 1 and STEP 2 that transfer payments to the EU banking community. EBA regularly develops their technical offers to provide  clearing services to banks as integrated payment system.