Who has access to the TARGET2 payment system?

The TARGET2 payment system is primarily designed for facilitating real-time gross settlement (RTGS) for payments in euros and is mainly used by the central banks and financial institutions within the Eurozone. However, specific countries that are not part of the Eurozone but are members of the European Union can also access TARGET2, as it serves to integrate their banking systems within a larger framework.

Countries like Bulgaria, Croatia, Denmark, Poland, and Romania, while not using the Euro as their official currency, have been granted access to the system in order to enhance financial integration and cooperation within the European Union. This access allows them to participate in euro-denominated transactions, thereby fostering economic ties with Eurozone countries and improving their own financial infrastructures.

In contrast, the other options limit access based solely to Eurozone countries or exclude certain EU nations, which is not in line with how TARGET2 operates regarding non-Euro countries participating in the system. Thus, the inclusion of countries like Bulgaria and Croatia reflects the broader goal of improving interconnectivity within the region.