Deze positie in de boeken van de ECB vertegenwoordigt de netto vordering of verplichting van elke nationale centrale bank ten opzichte van de rest van het ESCB . ###>This position in the books of the ECB represents the net claim or liability of each NCB against the rest of the ESCB . 2 TARGET is the Trans-European Automated Real-time Gross settlement Express Transfer system ( see also Chapter VII ) .