Narodowy Bank Polski

Narodowy Bank Polski and Banca d'Italia announce that on March the 7th 2005 the Polish RTGS system SORBNET-EURO managed by Narodowy Bank Polski was successfully connected to TARGET. This represents the most important change since the launch of the TARGET system on January the 4th 1999. Such connection was realised through a dedicated link with the Banca d'Italia's RTGS system BIREL. The choice of Banca d'Italia was made after a dedicated assessment procedure the Narodowy Bank Polski carried out on several Euro RTGS systems. The connection of the Polish payment system in Euro to TARGET, which represents the result of a close co-operation between Narodowy Bank Polski and Banca d'Italia, allows the Polish banking community to have the benefit of lower prices for the execution of payments in Euro and, at the same time, to gain experience in view of the forthcoming access in the Euro area.