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

FRANKFURT, July 6 (Reuters) - ⁠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 ​banksaid 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.

(Reporting by Francesco ​Canepa in Frankfurt and Akanksha Khushi in Bengaluru; Editing by Christian Schmollinger, Alexandra Hudson)

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