4CB T2S Operational Management

ECB T2S Coordination

T2S Operations Report

January 2017

1. Introduction

This report is prepared in collaboration between 4CB T2S Operational Management and ECB T2S

Coordination. The aim is to provide information on operational and coordination activities, settlement

statistics and follow up of SLA monitoring.

2. Executive summary

During the month of January, T2S didn’t experienced major incidents requiring the involvement of the

Crisis Managers. The availability during the period was 99,90 percent for the information, the static data

services and the settlement liquidity management.

In January T2S processed 5.154.517 transactions1 with an equivalent value of € 13.380,86 billion on

19.584 active T2S Securities Accounts and 573 active Dedicated Cash Accounts. On average, T2S

processed 234.296,23 transactions per day with an average value of € 608,22 billion. On average, 58,80

per cent of volume and 29,26 per cent of value was settled during NTS. In January, the settlement

efficiency was 97,84 per cent for volume and 97,86 per cent for value. On average, € 57,76 billion per day

of intraday credit through auto-collateralization has been provided (€ 10,72 billion on flow and € 47,04

billion on stock).

1 The figures include all the internal generated instructions as well as the liquidity transfer to/from T2

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3. Settlement data

Chart 1: Settlement Efficiency

Settlement efficiency January (Value) Percent Date

Maximum 98,43 % 25/01/2017

Minimum 97,24 % 06/01/2017

Settlement efficiency January (Volume) Percent Date

Maximum 98,17 % 27/01/2017

Minimum 97,31 % 03/01/2017

The settlement efficiency average is the arithmetic average of the daily settlement efficiency percentages.

According to the T2S Framework Agreement (Sch. 6 -7.2.2) the settlement efficiency is computed as the

number of settled transactions intended for settlement on that Settlement Day divided by the total number

of transactions intended for settlement on that Settlement Day.

93,00%

94,00%

95,00%

96,00%

97,00%

98,00%

99,00%

100,00%

Feb

ruar

y

Mar

ch

Ap

ril

May

Jun

e

July

Au

gust

Sep

tem

be

r

Oct

ob

er

No

vem

be

r

De

cem

ber

Jan

uar

y

2016 2017

Value

Volume

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Chart 2: Average percentage of unsettled transactions per number of recycling days (January)

23,58%

10,36%

5,58%

3,44% 2,43% 1,96% 1,67% 1,43% 1,35% 1,23% 1,20% 1,24% 1,23% 1,37% 1,24% 1,57%

0,00%

5,00%

10,00%

15,00%

20,00%

25,00%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

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104.615 97.442 100.028 98.042

113.670

95.581

78.959

194.670

228.122 236.868

254.724

234.296

0

50.000

100.000

150.000

200.000

250.000

300.000

February March April May June July August September October November December January

2016 2017

Chart 3: Daily average volume of settled transactions

Settled transactions January Volume Date

Maximum 270.306 27/01/2017

Minimum 179.186 02/01/2017

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€ 492,92

€ 410,99

€ 360,64 € 357,94 € 336,28

€ 315,68

€ 278,18

€ 492,82

€ 573,31 € 569,44 € 578,07 € 608,22

€ 0,00

€ 100,00

€ 200,00

€ 300,00

€ 400,00

€ 500,00

€ 600,00

€ 700,00

February March April May June July August September October November December January

2016 2017

Bill

ion

s

Chart 4: Daily average value of settled transactions (€ billions, including also technical operations carried

out by the NCBs that were used until 11 March 2016)2

2 The value of settled transactions includes also the liquidity transfer to/from TARGET2.

Settled transactions January Value (€) Date

Maximum 808.676.128.634,17 31/01/2017

Minimum 502.979.829.491,81 19/01/2017

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1.751.380 1.575.421 1.539.966 1.575.834 1.918.812 1.463.472 1.299.780 2.755.024 2.805.432 3.022.032 3.153.373 3.030.948

445.531 470.861 560.632 581.083 581.929

543.728 516.275

1.527.709

1.985.137

2.189.068 2.195.836

2.123.569

(79,72%) (76,99%) (73,31%) (73,06%) (76,73%) (72,91%) (71,57%) (64,33%) (58,56%) (57,99%) (58,95%) (58,80%)

(20,28%) (23,01%) (26,69%) (26,94%)

(23,27%)

(27,09%) (28,43%)

(35,67%)

(41,44%)

(42,01%) (41,05%) (41,20%)

0

1.000.000

2.000.000

3.000.000

4.000.000

5.000.000

6.000.000

February March April May June July August September October November December January

2016 2017

NTS RTS

Chart 5: Comparison of real-time and night-time settlement volume

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5.347,73 4.441,83 3.847,26 3.864,34 3.664,56 3.293,64 3.159,15 3.816,24 4.054,11 4.033,64 3.736,79 3.915,17

5.003,62

4.189,03

3.726,09 4.010,45

3.733,61

3.335,55 3.238,94

7.025,75

7.985,39 8.493,97

8.402,76

9.465,69

(51,66%) (51,46%) (50,80%) (49,07%) (49,53%) (49,68%) (49,38%) (35,20%) (33,67%) (32,20%) (30,78%) (29,26%)

(48,34%)

(48,54%)

(49,20%) (50,93%)

(50,47%)

(50,32%) (50,62%)

(64,80%)

(66,33%) (67,80%)

(69,22%)

(70,74%)

€ 0,00

€ 2.000,00

€ 4.000,00

€ 6.000,00

€ 8.000,00

€ 10.000,00

€ 12.000,00

€ 14.000,00

€ 16.000,00

February March April May June July August September October November December January

2016 2017

Bill

ion

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NTS RTS

Chart 6: Comparison of real-time and night-time settlement value (€ billions)

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266 291

392 406 433

403 382

563

632 617 643 632

0

100

200

300

400

500

600

700

February March April May June July August September October November December January

2016 2017

€ 273,53

€ 149,73

€ 78,31 € 82,24 € 78,12 € 68,52 € 61,63

€ 130,04 € 140,49

€ 132,30 € 133,68 € 136,48

€ 0,00

€ 50,00

€ 100,00

€ 150,00

€ 200,00

€ 250,00

€ 300,00

February March April May June July August September October November December January

2016 2017

Bill

ion

s

Chart 7: Number of Inbound/Outbound liquidity transfers (daily average, including also technical

operations carried out by the NCBs that were used until 11 March 2016)

Chart 8: Value of Inbound/Outbound liquidity transfers (daily average, € billion, including also technical

operations carried out by the NCBs that were used until 11 March 2016)

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€ 8,03 (45,75%)

€ 9,82 (39,04%)

€ 9,53 (27,63%)

€ 9,85 (28,63%)

€ 9,67 (30,72%)

€ 9,23 (35,96%)

€ 6,91 (31,39%)

€ 8,52 (25,09%)

€ 9,27 (21,48%)

€ 9,18 (20,67%)

€ 8,85 (18,51%)

€ 10,72 (18,55%)

€ 9,52 (54,25%)

€ 15,33 (60,96%)

€ 24,97 (72,37%)

€ 24,56 (71,37%) € 21,80

(69,28%) € 16,44 (64,04%) € 15,10

(68,61%)

€ 25,44 (74,91%)

€ 33,87 (78,52%)

€ 35,22 (79,33%)

€ 38,95 (81,49%)

€ 47,04 (81,45%)

€ 0,00

€ 10,00

€ 20,00

€ 30,00

€ 40,00

€ 50,00

€ 60,00

€ 70,00

February March April May June July August September October November December January

2016 2017

Bill

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Average collateralisation value on flow Average collateralisation value on stock

Chart 9: Daily average value collateralisation transactions (€ billions)

Collateralisation transactions January Value (€) Date

Maximum 99.976.356.705,34 25/01/2017

Minimum 32.689.527.934,22 30/01/2017

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€ 188,90 (51,28%)

€ 227,95 (43,15%)

€ 310,82 (42,91%)

€ 369,18 (48,77%)

€ 395,87 (57,17%)

€ 277,76 (51,54%)

€ 219,59 (43,38%)

€ 228,10 (30,53%)

€ 235,25 (25,97%)

€ 239,55 (24,53%)

€ 234,54 (23,37%)

€ 310,39 (24,43%)

€ 179,45 (48,72%)

€ 300,31 (56,85%)

€ 413,59 (57,09%)

€ 387,87 (51,23%) € 296,55

(42,83%) € 261,19 (48,46%)

€ 286,64 (56,62%)

€ 518,99 (69,47%)

€ 670,73 (74,03%)

€ 737,15 (75,47%)

€ 769,21 (76,63%)

€ 960,35 (75,57%)

€0,00

€200,00

€400,00

€600,00

€800,00

€1.000,00

€1.200,00

€1.400,00

February March April May June July August September October November December January

2016 2017

Bill

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Collateralisation value NTS Collateralisation value RTS

Chart 10: Comparison of real-time and night-time usage of auto-collateralisation (€ billions)

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22.180 23.796 27.000 23.694 23.975 22.880 18.503

33.518 37.799 37.547 37.829 34.391

19.198 15.566 13.220 13.883

26.273

11.582 8.655

30.017 24.921 27.540 28.815

24.952

57.024 50.246 50.354 50.122

53.240 51.168 42.979

117.091

145.903 151.620

167.600

153.642

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

160.000

180.000

February March April May June July August September October November December January

2016 2017

Average Volume Debt Instruments Average Volume Entitlements (Rights) Average Volume Equities

Chart 11: Daily average volume per securities category

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€176,23

€ 197,57 € 205,45 €198,71 €186,28 €189,16

€167,44

€268,94

€312,12 €309,37 €304,58 €321,13

€ 0,150 € 0,161 € 0,134 € 0,149 € 0,163 € 0,108 € 0,071 € 0,198 € 0,203 € 0,178 € 0,270 € 0,200 €7,88 € 8,31 €7,70 €8,02 €8,31 €6,82 €4,98

€24,45 €33,78 €37,91

€43,39 €34,30

€0,00

€50,00

€100,00

€150,00

€200,00

€250,00

€300,00

€350,00

February March April May June July August September October November December January

2016 2017

Bill

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Average Value Debt Instruments Average Value Entitlements (Rights) Average Value Equities

Chart 12: Daily average value per securities category (€ billions)

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104.581 90.963 90.887 86.753 112.987 83.071 68.644 176.477 168.131 172.899 193.984 172.628

101.769 98.196 100.649 97.363

104.797

98.150

79.400

213.030

280.965 291.146

319.847

285.585

(50,68%) (48,09%) (47,45%) (47,12%) (51,88%) (45,84%) (46,37%) (45,31%) (37,44%) (37,26%) (37,75%) (37,67%)

(49,32%) (51,91%) (52,55%) (52,88%)

(48,12%)

(54,16%)

(53,63%)

(54,69%)

(62,56%) (62,74%)

(62,25%)

(62,33%)

0

100.000

200.000

300.000

400.000

500.000

600.000

February March April May June July August September October November December January

2016 2017

Average Instruction Externally Matched Average Instruction Internally Matched

Chart 13: Comparison of settlement Instructions internally/externally matched (per cent, daily average)

All the instructions sent during the period under analysis are considered, disregarding positive or

negative matching and settlement and disregarding ISD

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7 5 6 3 3 3 3 20 25 110 306 296

96.531 87.765 88.743 85.876

101.626

83.815

65.929

177.083

204.029 211.490

236.529

207.852

(0,01%) (0,01%) (0,01%) (0,00%) (0,00%) (0,00%) (0,00%) (0,01%) (0,01%) (0,05%) (0,13%) (0,14%)

(99,99%) (99,99%) (99,99%) (100,00%)

(100,00%)

(100,00%)

(100,00%)

(99,99%)

(99,99%) (99,95%)

(99,87%)

(99,86%)

0

50.000

100.000

150.000

200.000

250.000

February March April May June July August September October November December January

2016 2017

Cross CSD Intra CSD

Chart 14: Comparison of intra-CSD and cross-CSD settlement by volume (percent, daily average)

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0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,62 0,47 0,30 0,33 0,18

€144,14

€164,40 €175,02

€166,98 €155,83

€163,66

€137,89

€239,77

€281,92 €278,69 €292,62 €287,95

(0,00%) (0,00%) (0,00%) (0,00%) (0,00%) (0,00%) (0,00%) (0,26%) (0,17%) (0,11%) (0,11%) (0,06%)

(100,00%)

(100,00%) (100,00%)

(100,00%) (100,00%)

(100,00%)

(100,00%)

(99,74%)

(99,83%) (99,89%) (99,89%) (99,94%)

€ 0,00

€ 50,00

€ 100,00

€ 150,00

€ 200,00

€ 250,00

€ 300,00

€ 350,00

February March April May June July August September October November December January

2016 2017

Bill

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Cross CSD Intra CSD

Chart 15: Comparison of intra-CSD and cross-CSD settlement by value (percent, daily average)

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2017

January February March April May June July August SeptemberOctober November December January

Volume Volume Volume Volume Volume Volume Volume Volume Volume Volume Volume Volume Volume

AT Total 6 2

Average 0,27 0,09

BE Total 4.174 19.892 19.589 20.588 17.770 17.394 33.008 39.213 41.532 44.000 42.827

Average 198,76 947,24 890,41 935,82 846,19 756,26 1.500,36 1.867,29 1.887,82 2.095,24 1.946,68

BG Total

Average

CY Total

Average

DE Total 61.339 69.921 66.330 68.830 69.815 75.614 70.707 61.833 162.655 204.566 223.884 236.431 206.735

Average 3.066,95 3.329,57 3.277,62 3.275,43 3.173,41 3.437,00 3.367,00 2.688,39 7.393,41 9.741,24 10.176,55 11.258,62 9.397,05

DK Total 54 111 67 123 231

Average 2,45 5,29 3,05 5,86 10,50

EE Total

Average

ES Total 29 12 57 238 113 141 138 128 120 204 175 113 282

Average 1,45 0,57 2,71 11,33 5,14 6,41 6,57 5,57 5,45 9,71 7,95 5,38 12,82

EU Total 3 10 4 19 10 8 18 6 3 13 34 3 1

Average 0,15 0,48 0,19 0,90 0,45 0,36 0,86 0,26 0,14 0,62 1,55 0,14 0,05

FI Total 295 410 362 361 366

Average 13,41 19,52 16,45 17,19 16,64

FR Total 427.827 513.544 485.159 514.021 524.803 590.118 485.203 440.012 1.666.717 2.183.814 2.352.430 2.429.948 2.360.196

Average 21.391,35 24.454,48 23.102,81 24.477,19 23.854,68 26.823,55 23.104,90 19.130,96 75.759,86 103.991,14 106.928,64 115.711,81 107.281,64

GR Total 755 3.112 1.422 1.842 2.235 1786 1.378 1.080 1560 1.432 2.879 1.894 1.619

Average 37,75 148,19 67,71 87,71 101,59 81,18 65,62 46,96 70,91 68,19 130,86 90,19 73,59

HR Total

Average

IE Total

Average

IT Total 1.046.631 1.261.476 1.101.635 1.092.829 1.112.847 1.386.517 1.023.488 912.202 1.188.074 1.333.867 1.451.032 1.451.752 1.438.254

Average 52.331,55 60.070,29 52.458,81 52.039,48 50.583,95 63.023,50 48.737,52 39.660,96 54.003,36 63.517,48 65.956,00 69.131,05 65.375,18

LT Total

Average

LU Total 10 6 95 397 452 548 341 273 340 401 584 1.024 664

Average 0,50 0,29 4,52 18,90 20,55 24,91 16,24 11,87 15,45 19,10 26,55 48,76 30,18

LV Total

Average

MT Total 1.817 2.656 2.578 2.505 2.670 2.030 2.484 2.536 2.405 3.137 3.782 2.803 2.740

Average 90,85 126,48 122,76 119,29 121,36 92,27 118,29 110,26 109,32 149,38 171,91 133,48 124,55

NL Total 21.485 23.460 23.025 21.794 22.756 23.980 22.236 21.174 122.850 166.301 172.938 159.907 165.165

Average 1.074,25 1.117,14 1.096,43 1.037,81 1.034,36 1.090,00 1.058,86 920,61 5.584,09 7.919,10 7.860,82 7.614,62 7.507,50

PL Total

Average

PT Total 1.878 13.337 14.482 13.969 11.388 11.046 12.881 11.427 12.536 11.473 12.301

Average 89,43 635,10 658,27 634,95 542,29 480,26 585,50 544,14 569,82 546,33 559,14

RO Total

Average

SI Total

Average

SK Total

Average

2016

Chart 16: Payments processed on Dedicated Cash Accounts (DCA) sent per country participating in or

connected to TARGET: Volume of transactions (number of payments)

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2017

January February March April May June July August September October November December January

Value Value Value Value Value Value Value Value Value Value Value Value Value

AT Total € 91.624,73 € 103,75

Average € 4.164,76 € 4,72

BE Total € 80.145.903.164,24 € 389.646.715.104,38 € 394.579.613.871,80 € 360.010.710.529,07 € 366.379.888.411,54 € 388.961.190.876,01 € 448.488.435.730,93 € 428.651.733.503,68 € 437.511.233.437,77 € 444.695.276.097,67 € 449.277.475.061,02

Average € 3.816.471.579,25 € 18.554.605.481,16 € 17.935.436.994,17 € 16.364.123.205,87 € 17.446.661.352,93 € 16.911.356.125,04 € 20.385.837.987,77 € 20.411.987.309,70 € 19.886.874.247,17 € 21.175.965.528,46 € 20.421.703.411,86

BG Total

Average

CY Total

Average

DE Total € 63.496.705.973,37 € 79.393.039.295,78 € 111.675.200.338,77 € 100.401.884.324,50 € 73.747.775.264,02 € 73.746.141.938,03 € 65.095.001.242,85 € 55.362.657.596,02 € 138.799.474.874,82 € 157.557.979.773,63 € 221.047.703.735,08 € 240.960.401.623,21 € 252.265.325.994,37

Average € 3.174.835.298,67 € 3.780.620.918,85 € 5.317.866.682,80 € 4.781.042.110,69 € 3.352.171.602,91 € 3.352.097.360,82 € 3.099.761.963,95 € 2.407.072.069,39 € 6.309.067.039,76 € 7.502.760.941,60 € 10.047.622.897,05 € 11.474.304.839,20 € 11.466.605.727,02

DK Total € 289.988.000,88 € 1.785.451.905,05 € 1.291.795.063,78 € 572.074.813,46 € 2.118.508.310,99

Average € 13.181.272,77 € 85.021.519,29 € 58.717.957,44 € 27.241.657,78 € 96.295.832,32

EE Total

Average

ES Total € 1.282.229.521,74 € 225.796.440,62 € 1.491.825.120,10 € 6.641.052.593,29 € 2.718.204.214,09 € 1.681.816.237,49 € 982.667.767,07 € 501.643.631,02 € 562.417.369,80 € 463.562.074,18 € 755.045.667,73 € 184.145.700,69 € 2.091.756.210,30

Average € 64.111.476,09 € 10.752.211,46 € 71.039.291,43 € 316.240.599,68 € 123.554.737,00 € 76.446.192,61 € 46.793.703,19 € 21.810.592,65 € 25.564.425,90 € 22.074.384,48 € 34.320.257,62 € 8.768.842,89 € 95.079.827,74

EU Total € 387.729,20 € 10.439.151,19 € 18.242.334,28 € 5.624.996,51 € 13.403.093,16 € 4.712.260,30 € 4.072.634,63 € 2.072.172,17 € 5.421.690,47 € 17.029.888,31 € 16.809.877,42 € 7.275.596,97 € 2.890.457,69

Average € 19.386,46 € 497.102,44 € 868.682,58 € 267.856,98 € 609.231,51 € 214.193,65 € 193.934,98 € 90.094,44 € 246.440,48 € 810.947,06 € 764.085,34 € 346.457,00 € 131.384,44

FI Total € 509.003.639,11 € 1.170.076.570,44 € 1.198.335.708,67 € 1.713.814.163,24 € 1.598.682.381,70

Average € 23.136.529,05 € 55.717.931,93 € 54.469.804,94 € 81.610.198,25 € 72.667.380,99

FR Total € 1.296.545.634.974,11 € 1.544.144.655.095,00 € 1.897.134.649.828,93 € 2.116.757.857.149,15 € 2.098.002.718.433,12 € 1.932.053.477.124,61 € 1.716.439.045.292,87 € 1.579.709.550.415,10 € 4.212.041.884.931,39 € 5.289.398.589.530,39 € 5.714.224.940.185,06 € 5.505.204.245.539,19 € 6.078.063.282.260,96

Average € 64.827.281.748,71 € 73.530.697.861,67 € 90.339.745.229,95 € 100.797.993.197,58 € 95.363.759.928,78 € 87.820.612.596,57 € 81.735.192.632,99 € 68.683.023.931,09 € 191.456.449.315,06 € 251.876.123.310,97 € 259.737.497.281,14 € 262.152.583.120,91 € 276.275.603.739,13

GR Total € 86.604.927.980,70 € 131.920.985.259,99 € 127.293.283.926,65 € 85.386.608.257,44 € 153.834.444.757,16 € 165.180.346.297,09 € 159.731.347.715,73 € 138.723.077.545,21 € 188.685.018.666,80 € 139.853.993.281,62 € 135.380.773.872,54 € 153.390.976.671,37 € 156.130.809.687,61

Average € 4.330.246.399,04 € 6.281.951.679,05 € 6.061.584.948,89 € 4.066.028.964,64 € 6.992.474.761,69 € 7.508.197.558,96 € 7.606.254.653,13 € 6.031.438.154,14 € 8.576.591.757,58 € 6.659.713.965,79 € 6.153.671.539,66 € 7.304.332.222,45 € 7.096.854.985,80

HR Total

Average

IE Total

Average

IT Total € 2.771.503.303.809,94 € 2.843.602.153.432,18 € 3.156.902.501.005,83 € 3.204.386.537.721,41 € 3.314.277.695.044,11 € 3.120.202.084.462,07 € 2.859.998.290.800,61 € 2.796.804.240.037,06 € 2.920.161.803.875,45 € 2.985.138.412.758,72 € 3.013.180.881.896,65 € 2.903.046.372.592,03 € 3.336.805.579.021,57

Average € 138.575.165.190,50 € 135.409.626.353,91 € 150.328.690.524,09 € 152.589.835.129,59 € 150.648.986.138,37 € 141.827.367.475,55 € 136.190.394.800,03 € 121.600.184.349,44 € 132.734.627.448,88 € 142.149.448.226,61 € 136.962.767.358,94 € 138.240.303.456,76 € 151.672.980.864,62

LT Total

Average

LU Total € 1.579.658,26 € 304.744,71 € 618.793.690,23 € 3.074.150.204,50 € 2.248.754.414,74 € 4.257.750.129,24 € 1.945.624.595,58 € 1.872.725.674,74 € 4.536.869.048,56 € 2.753.423.626,46 € 4.676.699.290,22 € 5.121.462.359,36 € 3.959.975.448,81

Average € 78.982,91 € 14.511,65 € 29.466.366,20 € 146.388.104,98 € 102.216.109,76 € 193.534.096,78 € 92.648.790,27 € 81.422.855,42 € 206.221.320,39 € 131.115.410,78 € 212.577.240,46 € 243.879.159,97 € 179.998.884,04

LV Total

Average

MT Total € 83.835.221,28 € 86.113.458,24 € 61.077.181,29 € 101.987.190,94 € 98.421.530,01 € 65.065.404,88 € 67.946.788,06 € 65.742.699,59 € 43.375.378,91 € 67.644.794,87 € 161.151.145,33 € 99.784.570,75 € 68.303.737,87

Average € 4.191.761,06 € 4.100.640,87 € 2.908.437,20 € 4.856.532,90 € 4.473.705,91 € 2.957.518,40 € 3.235.561,34 € 2.858.378,24 € 1.971.608,13 € 3.221.180,71 € 7.325.052,06 € 4.751.646,23 € 3.104.715,36

NL Total € 7.097.784.459,75 € 7.436.164.966,26 € 8.524.080.400,44 € 10.733.897.488,62 € 11.237.935.981,45 € 10.516.602.156,36 € 7.666.635.626,82 € 10.732.255.893,14 € 50.172.086.399,16 € 65.718.528.362,82 € 67.807.207.116,71 € 63.851.519.965,99 € 87.290.962.357,56

Average € 354.889.222,99 € 354.103.093,63 € 405.908.590,50 € 511.137.975,65 € 510.815.271,88 € 478.027.370,74 € 365.077.886,99 € 466.619.821,44 € 2.280.549.381,78 € 3.129.453.731,56 € 3.082.145.778,03 € 3.040.548.569,81 € 3.967.771.016,25

PL Total

Average

PT Total € 2.160.222.886,27 € 11.105.478.251,65 € 13.180.403.747,18 € 11.160.309.416,08 € 11.512.879.887,13 € 5.982.215.124,80 € 12.504.728.099,46 € 12.825.693.581,95 € 14.173.495.635,15 € 9.450.429.763,94 € 8.290.703.242,76

Average € 102.867.756,49 € 528.832.297,70 € 599.109.261,24 € 507.286.791,64 € 548.232.375,58 € 260.096.309,77 € 568.396.731,79 € 610.747.313,43 € 644.249.801,60 € 450.020.464,95 € 376.850.147,40

RO Total

Average

SI Total

Average

SK Total

Average

2016

Chart 17: Payments processed on Dedicated Cash Accounts (DCA) sent per country participating in or

connected to TARGET: Value of transactions (EUR billions)

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97,00%

97,50%

98,00%

98,50%

99,00%

99,50%

100,00%

Feb

ruar

y

Mar

ch

Ap

ril

May

Jun

e

July

Au

gust

Sep

tem

ber

Oct

ob

er

No

vem

ber

Dec

em

ber

Jan

uar

y

2016 2017

Sett. Liq. Management

Static data

Information

Min (99.70%)

4. SLA Monitoring

Chart 18: Availability

The following formula is used to calculate the availability:

𝑎 = (1 −𝑑

𝑇𝑚) x 100

a= availability as percentage

d = cumulative downtime for the reporting period

Tm = total planned up-time for the reporting period

The downtime is the time between the start of an incident that causes the unavailability of a service and

the closing of the incident that caused the downtime, i.e. when the service has been restored.

2016 2017

February March April May June July August September October November December January

Sett. Liq. Management 100,00% 100,00% 99,78% 100,00% 100,00% 100,00% 99,75% 99,16% 99,15% 98,42% 97,89% 99,90%

Static data 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 99,90%

Information 100,00% 100,00% 100,00% 100,00% 99,09% 100,00% 100,00% 100,00% 100,00% 100,00% 100,00% 99,90%

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0,00%

10,00%

20,00%

30,00%

40,00%

50,00%

60,00%

70,00%

80,00%

90,00%

100,00%

Feb

ruar

y

Mar

ch

Ap

ril

May

Jun

e

July

Au

gust

Sep

tem

be

r

Oct

ob

er

No

vem

be

r

De

cem

ber

Jan

uar

y

2016 2017

Punctuality

Chart 19: Punctuality

The formula below is used to calculate the punctuality:

𝑝 = (1 −𝑑

𝑎) x 100

Where:

p = punctuality as percentage

d = number of relevant business events with a substantial delay in the reporting period

a = total number of relevant business events in the reporting period

The punctuality of T2S is measured by counting the number of occasions when a T2S business event is

delayed for a time period exceeding the defined substantial delay for this event.

2016 2017

February March April May June July August September October November December January

Punctuality 100,00% 100,00% 96,19% 100,00% 100,00% 100,00% 98,26% 92,72% 92,38% 81,81% 80,96% 100,00%

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Chart 20: T2S GUI Visitors Statistics3

3 Average generation time: This value represents the average amount of time it takes to load a page in the T2S

webserver (excluding the time needed by the backend modules) and includes both the time it takes to generate the

page, and the time it takes for the users to download it.

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5. Reporting on the Incident and Crisis management process

In January 2017 T2S didn’t experienced major incidents requiring the involvement of the Crisis Managers.

Nevertheless, 1 minor incidents occurred on the 24th which caused short delay in the start of the Real

Time Settlement after the Maintenance Window, thus impacting the calculation of the availability rate.

5.1 Feedback on Crisis managers conference calls (if any)

Nothing to report.

5.2 Lessons learned from conference calls and incident/crisis management process

Nothing to report.

6. Other

Nothing to report.