ECB payment system suffers second outage in a week
A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
FRANKFURT, July 6 : The European Central Bank’s payment system on Monday suffered a second, short outage in the space of a week due to a glitch caused by a software update.
The T2 system, which handles trillions of euros of daily transactions, was down for roughly 40 minutes in the early hours on Monday, delaying settlements in the single currency and in Danish crowns, the ECB said on its website.
A treasurer at a top euro zone bank said some delays were still reported at the start of the business day on Monday but the issue had since been resolved.
A similar incident occurred in the early hours of June 29.
A spokesperson for the ECB said both outages were caused by a recent software update, which had “introduced an issue that has now been addressed”. He added systems were operating normally.
A hardware failure caused T2 to suffer a seven-hour outage last year, which delayed salaries and welfare payments for thousands of people in the euro zone, as well as some transactions on financial markets.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
