People with disabilities or low digital literacy or who have difficulty making ends meet particularly value cash. Of all Dutch people, 28% say they cannot do without cash and 7% say they only pay with cash at points of sale, but these percentages are higher for the aforementioned focus groups.Read more
TARGET Consolidation project
This page is primarily relevant to TARGET2 participants who access the TARGET2 system via DNB.
TARGET Consolidation: What is it?
The Eurosystem has launched a project to consolidate TARGET2 and T2S, in terms of both technical and functional aspects. The objective is to meet changing market demands by replacing TARGET2 with a new real-time gross settlement (RTGS) system and optimising liquidity management across all TARGET Services. DNB is the central bank in charge of opening and maintaining accounts in the TARGET-NL segment of the TARGET2 system.
Why this page?
Since the TARGET Consolidation is a Eurosystem project, both the Eurosystem - i.e. the ECB and all EU central banks with the euro as national currency - and DNB as one of the Eurosystem central banks have a role to play. Information which is shared on Eurosystem level is mostly published on the ECB website – e.g. UDFS User Defined Functional Specifications and the project’s milestones planning. DNB’s website provides information specific to DNB or requested from the TARGET2 participants who have opened accounts via DNB.
Useful links on www.ecb.europa.eu.
TARGET Consolidation on the ECB website:
- General information www.ecb.europa.eu > Payments & Markets > TARGET services > TARGET consolidation
- For professional use – System Defining Documentation e.g. UDFS, planning, info on messages.
- Governance information – e.g. results from the TCCG – Target Consolidation Contact Group
- Events organized by the ECB
Note: the link to governance information gives access to information from other parties made public in the Payments & Markets domain. Filtering is possible using a search term e.g. T2/T2S, AMI-Pay or Instant Payments.
Network Service Provider
Swift and Sia-Colt are the two Network Service Providers that were awarded NSP concession contracts after the Eurosystem NSP section tender procedure. Both NSPs are bound by maximum prices and provide services for low volume access. You need to select your own NSP. The Eurosystem takes no role in this process other than your successful selection in your readiness report to DNB.
The Eurosystem imposes readiness reporting on all its account holders because of the magnitude of the TARGET consolidation project, with the introduction and mandatory use of ISO20022 messaging. The results of the readiness reporting will be made public on the ECB website.
The new Registration Form replaces all Target Registration forms
- T2 Registration Form V184.108.40.206
- TARGET Services registration and onboarding guide
- Registration Form macro disabled
The User Testing calendar provides information on each testing day. Only the active version is provided.
- CLM and RTGS Operational Day Schedules for UT ToR - with event codes
- 2022-12-16 UT external Calender
Migration Weekend (Dress) Rehearsals
The MW(D)R documents provides further information on steps to be taken in preparation to and during the Migration Weekend (Dress) Rehearsals.
- March - Migration Weekend Playbook for T2P - versie 1.3 (10 March 2023 | 494KB PDF)
- March - Migration Weekend Playbook - versie 1.6 (10 March 2023 | 14KB XLSX)
- March - BPMN Consolidation-Migration Weekend for T2Ps (08 March 2022 | 104KB PDF)
- Pre-Migration Schedule for T2 Participants v1.1 (01 February 2023 | 365KB PDF)
- T2-T2S Consolidation T2 Info session Static Data (21 January 2022 | 2.1MB PDF)
- T2T2S Consolidation info session (02 February 2021 | 1.9MB PDF)
- T2-T2S Consolidation overview (24 September 2021 | 2.5MB PDF)
- T2-T2S Consolidation CRDM (24 September 2021 | 1.9MB PDF)
- T2-T2S Consolidation CLM (24 September 2021 | 1.9MB PDF)
- T2-T2S Consolidation RTGS (24 September 2021 | 2MB PDF)
- T2-T2S Consolidation Test & Migration (12 October 2021 | 3.1MB PDF)
- National Service Desk Target2 presentation registration guide (03 November 2021 | 1.7MB PPTX)
Q&A - Information
- T2 - T2S CSLD - Q and A - Info Sessions 7 and 12-10-2021 (12 January 2022 | 175KB PDF)
- T2 - T2S CSLD - Q and A - Info Session 30-09-2021 (12 January 2022 | 168KB PDF)
- Introduction to the Consolidation project (20 January 2021 | 47KB PDF)
- Consolidation: Frequently asked questions (20 January 2021 | 50KB PDF)
- Documentation overview (21 September 2021 | 37KB PDF)
Test, Readiness & Migration
- T2 Production Connectivity Guideline (09 May 2022 | 360KB PPTX)
- T2 CRDM Configuration Guide for Payment Banks_1.0 (25 April 2022 | 60KB DOCX)
- DMD - Annex B - Migration Weekend Playbook - Calendar v0.8 draft (03 February 2022 | 68KB PDF)
- DMD - Annex B - Migration Weekend Playbook v0.7 (21 January 2022 | 825KB PDF)
- DMD - Annex D - Monitoring and coordination procedures - v1.0 (21 January 2022 | 365KB PDF)
- DMD - Annex C1 - Detailed Contingency Activities v1.0 (21 January 2022 | 551KB PDF)
- DMD - Annex C - Contingency Procedures v1.0 (21 January 2022 | 274KB PDF)
- DMD - Detailed Migration Document v1.0 (27 January 2022 | 770KB PDF)
- Calendar Pre-Migration Schedule v.0.96 TARGET2 NL Participants (10 January 2023 | 366KB PDF)
- DMD – Annex A – Pre-Migration Schedule v0.95 for T2 Participants (27 January 2022 | 850KB PDF)
- Format Description for csv files for migration of balances to T2 (96KB PDF)
- BPMN Pre-Migration Schedule v0.95 (07 January 2022 | 330KB PDF)
- 2022-02-04 T2P UT Calendar (10 January 2023 | 22KB XLSX)
- T2 Certification test template for T2 Participants (09 May 2022 | 38KB XLSX)
- Template of Reporting Issues_v1.0_customer (09 May 2022 | 54KB DOCX)
- 20211224_CLM_RTGS - recommendations on set up of reference data in CRDM (07 January 2022 | 263KB PDF)
- Readiness checklist TARGET2-T2S Consolidation per Focus Area (02 February 2021 | 122KB PDF)
- OnePager Notes on PROD v1.0
- OnePager Notes on PROD v1.0
- Account Holder Roles as of 21.11.2022
- Frequently asked questions
- Introduction to the Consolidation project
- Documentation overview
- OnePager Set up A2A User and DN-BIC Routing
- OnePager Message Subscription
- OnePager Report Configuration
- OnePager Roles
- OnePager Lessons Learned Registration Forms PROD 1.4
TARGET2/T2S+31 20 524 3564
De Nederlandsche Bank N.V.
Payments and Collateral Services Department
Section Payment Services
Discover related articles
Finance Minister Sigrid Kaag wants banks to continue to provide adequate, basic cash facilities, as she wrote today in a letter to Parliament. In her letter, she also stresses that cash withdrawals and deposits must remain affordable for both consumers and retailers.Read more
Dutch households' trust in financial institutions has remained stable over the past year, despite the recent problems faced by banks in the United States and Switzerland. During that period, households did think slightly more often about the possibility of Dutch banks failing.Read more