Paris, 1 October 1999

EURO1 reaches 100,000 payments

EBA Clearing, the largest cross border euro payments system in terms of daily transactions, today announced the achievement of a significant milestone in its short history; breaking the 100,000 payments a day barrier. This is a record total daily volume of payments processed by EURO1.

Willy Scheerlinck, Chairman of EBA Clearing, said: "This milestone signals the confidence of Europe’s leading banks in the effectiveness and robustness of EURO1. This level of payments underlines our position as a leading payments system operator. Significantly, today’s landmark volume highlights as well the growing trend towards banks using cross-border payments systems as opposed to correspondent banking."