TARGET (T2) closing days, euro area · 2027

TARGET2 closing days 2027: when euro payments don’t settle.

3 weekday closures in 2027, plus 3 holidays on a weekend that close nothing, leaving 258 business days. TARGET (T2) settles only on these business days, and so does the interbank leg of SEPA Credit Transfers and Direct Debits.

TARGET2 closing days 2027

TARGET, the Eurosystem’s settlement system for euro payments (T2 since March 2023, still widely called TARGET2), has six closing days a year besides weekends. Banks and payment schemes across the euro area treat them as non-business days for interbank settlement.

TARGET (T2) closing days, euro area holidays in 2027, with the banking days before and after each
Closed on	Holiday	Last business day before	Next business day
Friday, January 1, 2027	New Year's Day	Thu, Dec 31	Mon, Jan 4
Friday, March 26, 2027	Good Friday	Thu, Mar 25	Tue, Mar 30
Monday, March 29, 2027	Easter Monday	Thu, Mar 25	Tue, Mar 30

On a weekend, so no weekday closes

Labour Day, Saturday, May 1, 2027. Falls on a Saturday: TARGET is closed on weekends anyway and gives no substitute day.
Christmas Day, Saturday, December 25, 2027. Falls on a Saturday: TARGET is closed on weekends anyway and gives no substitute day.
Christmas Holiday (26 December), Sunday, December 26, 2027. Falls on a Sunday: TARGET is closed on weekends anyway and gives no substitute day.

What a closing day does to payments

SEPA Credit Transfers and SEPA Direct Debits don’t settle between banks; a collection due on a closing day settles on the next TARGET business day.
SEPA Instant Credit Transfers run around the clock, every day of the year, closing days included.
There are no substitute days: a closing day that falls on a weekend closes nothing else.
National holidays can still close banks and markets in a euro-area country on a TARGET business day.

Need a date some business days out? The business day calculator does the math on this calendar.

Business days per month, 2027

Business days per month in 2027 on the TARGET (T2) closing days, euro area calendar
Month	Business days
January	20
February	20
March	21
April	22
May	21
June	22
July	22
August	22
September	22
October	21
November	22
December	23
2027	258

How the dates are worked out

New Year’s Day, Good Friday, Easter Monday, Labour Day (May 1), Christmas Day and December 26.
Good Friday and Easter Monday follow Easter Sunday (the Western, Gregorian date).
A closing day on a weekend has no substitute.
TARGET2 replaced TARGET in 2007 and was itself replaced by T2 in March 2023; the closing days have been the same since 2002.
National holidays can still close banks and markets in a euro-area country on a TARGET business day.

TARGET2 2027 holidays from code or an AI agent

REST · GET · no key

curl -s 'https://payopskit.com/api/v1/holidays?calendar=target2&year=2027'

MCP · tools/call · list_bank_holidays

{
  "jsonrpc": "2.0",
  "id": 1,
  "method": "tools/call",
  "params": {
    "name": "list_bank_holidays",
    "arguments": {
      "calendar": "target2",
      "year": 2027
    }
  }
}

The MCP server is at /mcp (Streamable HTTP, no key); the API and MCP docs show how to connect Claude, Cursor or VS Code.

Add format=ics to the REST call for the calendar file; business_day_math answers “is it a business day”, next, previous, add and count.

Other calendars and years

TARGET2, other years

Other calendars, 2027

Source: ECB, TARGET closing days, computed by rule. Dates are computed by the calendar’s rules for any year, so future years can change if a holiday is added; unscheduled closures are not included. Informational only.