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La mise en place de TARGET2 : un élément de la nouvelle architecture financière de l’économie européenne

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  • Jean-Marc Figuet

Abstract

[fre] Cet article présente et analyse les évolutions en cours dans le domaine des paiements de montants élevés. La mise en place de TARGET2 dans la zone euro est un élément de la nouvelle architecture financière de l'économie européenne. La mise en place d'une plate-forme unique conduit à une convergence technique, fonctionnelle et tarifaire qui permet d'harmoniser les pratiques bancaires et renforce l'intégration des marchés. . Classification JEL : G15, G21 [eng] The Setting-Up of TARGET2 : an Element of the New Financial Structure of the European Economy . This article presents and analyzes wholesale payments evolutions in the euro zone. TARGET2 is an element of the new financial architecture of the European economy. The existence a single shared platform implies technical, functional and tariff convergence. This convergence is a way to improve banking practices and markets level of integration. . Classification JEL : G15, G21

Suggested Citation

  • Jean-Marc Figuet, 2009. "La mise en place de TARGET2 : un élément de la nouvelle architecture financière de l’économie européenne," Revue d'Économie Financière, Programme National Persée, vol. 94(1), pages 329-338.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2009_num_94_1_5311
    DOI: 10.3406/ecofi.2009.5311
    Note: DOI:10.3406/ecofi.2009.5311
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    References listed on IDEAS

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    1. Antoine Martin, 2005. "Recent evolution of large-value payment systems : balancing liquidity and risk," Economic Review, Federal Reserve Bank of Kansas City, vol. 90(Q I), pages 33-57.
    2. Bolt, Wilko & Humphrey, David, 2005. "Public good issues in TARGET: natural monopoly, scale economies, network effects and cost allocation," Working Paper Series 505, European Central Bank.
    3. Mills, David Jr., 2006. "Alternative central bank credit policies for liquidity provision in a model of payments," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1593-1611, October.
    4. Bonnier, V., 2008. "TARGET2 : le rôle d’un système d’aide à la décision pour compléter les fonctions de règlement," Bulletin de la Banque de France, Banque de France, issue 169, pages 31-36.
    5. Martin, Antoine, 2004. "Optimal pricing of intraday liquidity," Journal of Monetary Economics, Elsevier, vol. 51(2), pages 401-424, March.
    6. James J. McAndrews, 1997. "Network issues and payment systems," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 15-25.
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    More about this item

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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