Banking Circle incident
External issue with T2 affecting all euro transactions towards the ECB
Banking Circle experienced a minor incident on February 27, 2025 affecting Payments, lasting 9h 2m. The incident has been resolved; the full update timeline is below.
Affected components
Update timeline
- identified Feb 27, 2025, 12:03 PM UTC
Banking Circle has become aware of an external issue with T2 affecting all euro transactions towards the ECB. Please refer to the official notification on the ECB Eurosystem site: https://www.ecb.europa.eu/paym/target/html/target2_history.en.html EURO Transactions will be delayed and Banking Circle will update the status of this incident as we get more information.
- identified Feb 27, 2025, 12:04 PM UTC
EURO Transactions will be delayed and Banking Circle will update the status of this incident as we get more information.
- identified Feb 27, 2025, 12:47 PM UTC
SEPA Instant is Processing; T2 Payments will remain Pending processing until the Incident is resolved. The ECB has identified the root cause of the incident and is working to resume normal operations. For details, visit the T2 operational status page: https://www.ecb.europa.eu/paym/target/html/target2_history.en.html
- identified Feb 27, 2025, 02:50 PM UTC
ECB Eurosystem informs that TIPS is currently facing an incident impacting the settlement of instant payments and liquidity transfers between TIPS and other services. The incident is affecting both the EUR and SEK. Slow down in responses and rejections can be expected. Please check ECB Target services Operational Status Page for more details: https://www.ecb.europa.eu/paym/target/html/index.en.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter&utm_content=link
- identified Feb 27, 2025, 05:12 PM UTC
Banking Circle is actively monitoring the most recent developments concerning T2 and TIPS. The ECB Eurosystem is working to restore normal operations promptly. See ECB Target services Operational Status Page for more details: https://www.ecb.europa.eu/paym/target/html/index.en.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter&utm_term=logo_link_homepage_masthead
- monitoring Feb 27, 2025, 06:50 PM UTC
ECB informed that incident related to T2 unavailability has been resolved. T2 has resumed normal operations. TIPS is also operating normally. Banking Circle is monitoring the situation.
- resolved Feb 27, 2025, 09:05 PM UTC
This incident has been resolved.