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DEBES - The Danish Part of TARGET

DEBES - the Danish part of the future euro-payment system TARGET - is halfway through the testing phase and the activities related to the implementation of the system are under way. The purpose of this article is to present a brief overview of the structure and functions of DEBES, as well as the conditions for participation. The article generally corresponds to the memorandum distributed by Danmarks Nationalbank to potential participants in the system at the beginning of April 1998 as the basis for their consideration of whether they wish to participate in DEBES.