TIPS Definition.
TARGET Instant Payment Settlement: the Eurosystem service (2018) that settles instant credit transfers in central bank money, around the clock, one transaction at a time, within seconds. The Instant Payments Regulation (IPR) and ECB decisions are pushing every euro area PSP to be reachable in it, directly or through a CSM. Unlike deferred settlement models, it removes interbank credit risk from instant payments.
See also
Where this term appears
GuideCentral banks and payment infrastructuresGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in Central and Eastern EuropeGuidePayments in FranceGuidePayments in Hungary, Czechia, and SlovakiaGuidePayments in Spain and PortugalGuidePayments in IrelandGuidePayments in ItalyGuideLuxembourg and Europe’s licensing hubsGuidePayments in the Nordic countries