STEP2-T is a pan-European payment system for clearing and settlement of money claims and liabilities from domestic and cross-border credit transfers and direct debits. It is operated by EBA Clearing.
The clearing and settlement of money claims and liabilities, via participants’ settlement accounts in the TARGET2 payment system, are executed nine times a day (seven times for credit transfers and twice for direct debits) by EBA Clearing.
The Bank of Slovenia is a participant in the STEP2-T payment system, and provides for reachability in it for Slovenian banks and savings banks, thereby meeting the requirement for pan-European reachability deriving from the Regulation establishing technical and business requirements for credit transfers and direct debits in euro. The Bank of Slovenia thus enables Slovenian banks and savings banks to exchange credit transfers and direct debits with several thousand payment service providers across Europe.