Rozhodnutí Evropské centrální banky (EU) 2022/911 ze dne 19. dubna 2022 o podmínkách TARGET-ECB a o zrušení rozhodnutí ECB/2007/7 (ECB/2022/22)

THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular the first and fourth indents of Article 127(2) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 3.1 and Articles 17, 22 and 23 thereof,

The ECB’s TARGET component system (TARGET-ECB) is limited to the following operations:

(a) processing the ECB's own payments;

(b) processing payments of ECB customers;

(c) providing settlement services to entities managing ancillary systems, including entities established outside the European Economic Area, provided that those entities:(i) are subject to oversight by a competent authority;(ii) comply with the oversight requirements for the location of infrastructures offering services in euro, as published on the ECB's website;(iii) have been granted access to TARGET-ECB by the Governing Council.

(i) are subject to oversight by a competent authority;

(ii) comply with the oversight requirements for the location of infrastructures offering services in euro, as published on the ECB's website;

(iii) have been granted access to TARGET-ECB by the Governing Council.

The ECB may only accept the following customers and may act on their behalf:

(a) central banks;

(b) European organisations;

(c) international organisations;

(d) central governments of Member States or public entities designated by such central governments, pursuant to an ad-hoc decision of the Governing Council.

Guideline 2013/47/EU of the European Central Bank of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2012/27) (OJ L 30, 30.1.2013, p. 1 ).

(1) The Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) is governed by Guideline 2013/47/EU of the European Central Bank (ECB/2012/27)Guideline 2013/47/EU of the European Central Bank of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2012/27) (OJ L 30, 30.1.2013, p. 1 ). .

(2) On 6 December 2017 , the Governing Council approved the T2-T2S Consolidation Project, the objective of which is to consolidate and optimise TARGET2 and TARGET2-Securities (T2S), benefiting from state-of-the-art approaches and technological innovation, enabling a decrease in their combined operational cost, and enhancing liquidity management across the various services. The result of the T2-T2S Consolidation Project is the new-generation Trans-European Automated Real-time Gross settlement Express Transfer system settling in euro in central bank money (TARGET).

(3) From 21 November 2022 , TARGET2 will be replaced by TARGET.

(4) As is the case for TARGET2, TARGET is legally structured as a multiplicity of payment systems, where all TARGET component systems are harmonised to the greatest extent possible.

(5) TARGET provides central liquidity management services, including the settlement of central bank operations through main cash accounts (MCAs), large value real-time gross settlement (RTGS) for payments through RTGS dedicated cash accounts (DCAs), cash payments in relation to securities settlement through T2S dedicated cash accounts (T2S DCAs) and settlement of instant payments through TARGET Instant Payment Settlement (TIPS) dedicated cash accounts (TIPS DCAs), and services for ancillary system (AS) settlement through sub-accounts, RTGS AS technical accounts, AS guarantee fund accounts and TIPS AS technical accounts.

(6) TARGET2 component systems owned and operated by the respective Eurosystem central banks have been collectively identifiedDecision 2014/533/EU of the European Central Bank of 13 August 2014 on the identification of TARGET2 as a systemically important payment system pursuant to Regulation (EU) No 795/2014 on oversight requirements for systemically important payment systems (ECB/2014/35) (OJ L 245, 20.8.2014, p. 5 ). as a systemically important payment system (SIPS) subject to Regulation of the European Central Bank (EU) No 795/2014 (ECB/2014/28)Regulation of the European Central Bank (EU) No 795/2014 of 3 July 2014 on oversight requirements for systemically important payment systems (ECB/2014/28) (OJ L 217, 23.7.2014, p. 16 ). . The respective TARGET component systems, as the payment systems replacing those TARGET2 component systems, fall within the scope of Regulation (EU) No 795/2014 (ECB/2014/28) and are required to comply with the oversight requirements laid down in that Regulation.

(7) TARGET component systems constitute the legal successors to the corresponding TARGET2 component systems.

(8) On 24 February 2022 , the Governing Council adopted Guideline (EU) 2022/912 of the European Central Bank (ECB/2022/8)Guideline (EU) 2022/912 of the European Central Bank of 24 February 2022 on the new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) and repealing Guideline 2013/47/EU (ECB/2012/27) (ECB/2022/8) (see page 84 of this Official Journal). , which repeals Guideline 2013/47/EU (ECB/2012/27).

(9) Repealing Guideline 2013/47/EU (ECB/2012/27) requires changes to the terms and conditions of TARGET2-ECB. For reasons of legal certainty, it is appropriate to adopt a new decision to implement those changes. Decision 2007/601/EC of the European Central Bank (ECB/2007/7)Decision 2007/601/ECof the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (OJ L 237, 8.9.2007, p. 71 ). should therefore be repealed.

(10) In order to ensure effective implementation of Guideline (EU) 2022/912 (ECB/2022/8), this Decision should enter into force without delay,

For the purposes of this Decision, the definitions set out in Annex III apply.

Decision 2014/533/EU of the European Central Bank of 13 August 2014 on the identification of TARGET2 as a systemically important payment system pursuant to Regulation (EU) No 795/2014 on oversight requirements for systemically important payment systems (ECB/2014/35) (OJ L 245, 20.8.2014, p. 5 ).

Article 1 Article 1 Scope 1.The ECB’s TARGET component system (TARGET-ECB) is limited to the following operations: (a) processing the ECB's own payments;(b) processing payments of ECB customers;(c) providing settlement services to entities managing ancillary systems, including entities established outside the European Economic Area, provided that those entities:(i) are subject to oversight by a competent authority;(ii) comply with the oversight requirements for the location of infrastructures offering services in euro, as published on the ECB's website;(iii) have been granted access to TARGET-ECB by the Governing Council. 2.The ECB may only accept the following customers and may act on their behalf: (a) central banks;(b) European organisations;(c) international organisations;(d) central governments of Member States or public entities designated by such central governments, pursuant to an ad-hoc decision of the Governing Council.

Article 2 Article 2 Definitions

Article 3 Article 3 Terms and Conditions for participation in TARGET-ECB 1.Participation in TARGET-ECB shall be exclusively governed by the Conditions for participation in TARGET-ECB set out in Annex I. 2.In accordance with Article 9(2) of Guideline (EU) 2022/912 (ECB/2022/8), from 20 November 2023 , the ECB shall not open accounts other than TARGET accounts for eligible participants to provide services falling within the scope of Guideline (EU) 2022/912 (ECB/2022/8), with the exception of accounts that are used to hold seized funds or funds pledged to a third-party creditor or funds referred to in Article 3(1)(d) of Regulation (EU) 2021/378 of the European Central Bank (ECB/2021/1)Regulation (EU) 2021/378 of the European Central Bank of 22 January 2021 on the application of minimum reserve requirements (ECB/2021/1) (OJ L 73, 3.3.2021, p. 1 ). . 3.Participation in TARGET-ECB shall also be governed by Article 11 of Guideline (EU) 2022/912 (ECB/2022/8), where relevant.

Article 4 Article 4 Repeal of Decision 2007/601/EC (ECB/2007/7)

Article 5 Article 5 Entry into force

Participation in TARGET-ECB shall be exclusively governed by the Conditions for participation in TARGET-ECB set out in Annex I.

In accordance with Article 9(2) of Guideline (EU) 2022/912 (ECB/2022/8), from 20 November 2023 , the ECB shall not open accounts other than TARGET accounts for eligible participants to provide services falling within the scope of Guideline (EU) 2022/912 (ECB/2022/8), with the exception of accounts that are used to hold seized funds or funds pledged to a third-party creditor or funds referred to in Article 3(1)(d) of Regulation (EU) 2021/378 of the European Central Bank (ECB/2021/1)Regulation (EU) 2021/378 of the European Central Bank of 22 January 2021 on the application of minimum reserve requirements (ECB/2021/1) (OJ L 73, 3.3.2021, p. 1 ). .

Participation in TARGET-ECB shall also be governed by Article 11 of Guideline (EU) 2022/912 (ECB/2022/8), where relevant.

Regulation of the European Central Bank (EU) No 795/2014 of 3 July 2014 on oversight requirements for systemically important payment systems (ECB/2014/28) (OJ L 217, 23.7.2014, p. 16 ).

Decision 2007/601/EC (ECB/2007/7) is repealed with effect from 21 November 2022 .

Guideline (EU) 2022/912 of the European Central Bank of 24 February 2022 on the new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) and repealing Guideline 2013/47/EU (ECB/2012/27) (ECB/2022/8) (see page 84 of this Official Journal).

This Decision shall enter into force on the fifth day following that of its publication in the Official Journal of the European Union .

It shall apply from 21 November 2022 .

Decision 2007/601/ECof the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (OJ L 237, 8.9.2007, p. 71 ).

Regulation (EU) 2021/378 of the European Central Bank of 22 January 2021 on the application of minimum reserve requirements (ECB/2021/1) (OJ L 73, 3.3.2021, p. 1 ).

HAS ADOPTED THIS DECISION: