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Data presentation - Summary description

TARGET balances are positions on the balance sheets of all euro area countries’ NCBs and the NCBs of non-euro area EU countries that have joined TARGET on a voluntary basis.

Data presentation - Detailed description

Individual NCBs’ series are netted figures. They represent total TARGET claims netted against total TARGET liabilities, where positive values represent a net NCB claim on the ECB and negative values a net NCB liability. The ECB figures represent the ECB’s TARGET balances netted vis-à-vis all the NCBs participating in the TARGET system. The TARGET balances of non-euro area NCBs are also provided netted and aggregated vis-à-vis the ECB under the counterpart area code U4. National data are made available for euro area NCBs only.

By design, the sum of all TARGET balances of claims and liabilities (Eurosystem NCBs plus ECB plus non-euro area NCBs) must equal zero.

Reference area coverage

Countries participating in TARGET system.

Methodological information
Time period


Time period - collection
  • End of period
  • Average of observations through period
Statistical concepts and definitions

For information about the naming convention (series key dimensions and metadata), refer to the TGB underlying DSD (ECB_TGB1) maintained by the ECB.

Administrative Information

TGB - TARGET balances

Data source


Release policy

Publication after 1 month plus 1 working day after reference month.

Dissemination format

Statistical Data Warehouse (SDW)

Technical Information

Download the series catalogue containing a full list of series and associated metadata of the dataset TGB in CSV format (zipped)

Dataset last update
6 June 2024 10:02 CEST
Metadata last update
7 September 2022 12:17 CEST