• TARGET2 (Trans European Automated Real-Time Gross settlement Express Transfer)

    The European cross border payment system linking the national so called gross settlement systems (that settle payment by payment and not only a balance at the end of the day) of the EU countries with the payment system of the European Central Bank. This system is used for very large payments expressed in euros that stem primarily from transactions on financial markets.

  • Trade balance

    The trade balance is the difference between the value of the goods that a country exports and the value of the goods that it imports. The total trade balance, including all goods exported and imported, is one of the major components of the balance of payments.

  • Traditional government bonds

    Medium and long-term government bonds open for subscription to both private and institutional investors. Since 1996 they have been replaced by government notes open for subscription to private investors only.

  • Treasury certificates

    Short-term securities in euro issued by the Treasury by tender.

  • Treaty of Rome

    The Treaty of Rome, which was signed by six countries on 25 March 1957 (Belgium, Netherlands, Luxembourg, Germany, France and Italy) was intended to set up a common market and an Economic and Monetary Union.