Large-value payments

Large-value settlement systems are opposed to retail (low-value) payment systems. They are oriented towards large value payments, implying higher credit and liquidity risks and accrued systemic risk for the respective players.
 
In Portugal, large-value settlements are currently carried out via TARGET2-PT.

Moreover, Banco de Portugal allows the utilisation of a AGIL system by institutions that need to hold an account denominated in central bank money for specific purposes (for instance, for compliance with reserve requirements).
 
For further details on these issues, see the document "Payment Systems in Portugal (Blue Book)" – chapter on Portugal of the "Payment Systems in The European Union", publication of the European Central Bank, as well as its statistical annex.