(Dz.U.UE L z dnia 9 listopada 2018 r.)
ZARZĄD EUROPEJSKIEGO BANKU CENTRALNEGO,
uwzględniając Traktat o funkcjonowaniu Unii Europejskiej, w szczególności art. 127 ust. 2 tiret pierwsze i czwarte,
uwzględniając Statut Europejskiego Systemu Banków Centralnych i Europejskiego Banku Centralnego, w szczególności art. 11 ust. 6 oraz art. 17, 18, 22 i 23,
a także mając na uwadze, co następuje:
(1) 3 sierpnia 2018 r. Rada Prezesów zmieniła wytyczne EBC/2012/27 1 w celu wprowadzenia usługi natychmiastowego rozrachunku płatności w systemie TARGET (TARGET Instant Payment Settlement, TIPS) 2 . Nowa usługa TIPS umożliwi rozrachunek w pieniądzu banku centralnego zleceń płatniczych dotyczących płatności natychmiastowych przez 24 godzinę na dobę w dowolnym dniu kalendarzowym przez cały rok, przy przetwarzaniu natychmiastowym lub bliskim natychmiastowemu. Na potrzeby usługi TIPS w systemie TARGET2 stworzone zostaną dedykowane rachunki pieniężne TIPS (TIPS Dedicated Cash Accounts, TIPS DCAs). Jeśli chodzi o techniczne aspekty funkcjonowania rachunków TIPS DCA, TARGET2 zostanie techniczne stworzony i będzie funkcjonował w oparciu o platformę TIPS.
(2) Jednocześnie Rada Prezesów wprowadziła zmiany w wytycznych EBC/2012/27 zmierzające do doprecyzowania niektórych innych aspektów tych wytycznych oraz ich aktualizacji.
(3) Konieczne jest odzwierciedlenie w decyzji EBC/2007/7 3 zmian wprowadzonych do wytycznych EBC/2012/27 w odniesieniu do warunków uczestnictwa w systemie TARGET2-ECB, a także doprecyzowanie kilku innych zagadnień dotyczących tych warunków uczestnictwa.
(4) Decyzja EBC/2007/7 powinna zatem zostać odpowiednio zmieniona,
PRZYJMUJE NINIEJSZĄ DECYZJĘ:
Zmiany
W decyzji EBC/2007/7 wprowadza się następujące zmiany:
"c) zapewniać usługi rozrachunkowe podmiotom zarządzającym systemami zewnętrznymi, w tym podmiotom z siedzibą poza EOG, o ile podlegają one nadzorowi systemowemu właściwego organu, spełniają wymogi nadzorcze dotyczące miejsca położenia infrastruktury świadczącej usługi w euro, okresowo nowelizowane i ogłaszane na stronie internetowej EBC(* oraz na ich dostęp do TARGET2-ECB wyraziła zgodę Rada Prezesów.
"2. Przyznawanie przez EBC kredytu w ciągu dnia będzie dokonywane na podstawie zasad przyznawania kredytu w ciągu dnia określonych w załączniku III do wytycznych EBC/20012/27(* .
"Artykuł 3
Warunki uczestnictwa w systemie TARGET2-ECB
Warunki otwierania i prowadzenia rachunku w PM (PM account) w systemie TARGET2-ECB są zawarte w załączniku I do niniejszej decyzji. Warunki otwierania i prowadzenia dedykowanego rachunku pieniężnego dla T2S (T2S Dedicated Cash Account) w systemie TARGET2-ECB są zawarte w załączniku II do niniejszej decyzji. Warunki otwierania i prowadzenia dedykowanego rachunku pieniężnego dla TIPS (TIPS Dedicated Cash Account) w systemie TARGET2-ECB są zawarte w załączniku III do niniejszej decyzji.";
Postanowienia końcowe
Niniejsza decyzja wchodzi w życie następnego dnia po dniu jej opublikowania w Dzienniku Urzędowym Unii Europejskiej. Niniejszą decyzję stosuje się od dnia 30 listopada 2018 r.
Mario DRAGHI | |
Prezes EBC |
"»addressable BIC holder« means an entity which: (a) holds a Business Identifier Code (BIC); (b) is not recognised as an indirect participant in the PM; and (c) is a correspondent or customer of a PM account holder or a branch of a direct or indirect participant in the PM, and is able to submit payment orders to and receive payments from a TARGET2 component system via the PM account holder,";
"»ancillary system« means a system managed by an entity that is subject to supervision and/or oversight by a competent authority and complies with the oversight requirements for the location of infrastructures offering services in euro, as amended from time to time and published on the ECB's website(* , in which payments and/or financial instruments are exchanged and/or cleared or recorded with (a) the monetary obligations settled in TARGET2 and/or (b) funds held in TARGET2, in accordance with Guideline ECB/2012/27(* and a bilateral arrangement between the ancillary system and the relevant Eurosystem CB,
"»available liquidity« means a credit balance on a participant's PM account and, if applicable, any intraday credit line granted by the relevant euro area NCB in relation to such account but not yet drawn upon, or, if applicable, decreased by the amount of any processed reservations of liquidity on the PM account,";
"»business day« or »TARGET2 business day« means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,";
"»T2S Dedicated Cash Account (T2S DCA)« means an account held by a T2S DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,";
"a) where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6(1)(a);",
"g) where the participant's credit balance on its PM account, T2S DCA or TIPS DCA, or all or a substantial part of the participant's assets are subject to a freezing order, attachment, seizure or any other procedure that is intended to protect the public interest or the rights of the participant's creditors;";
"»ICM broadcast message« means information made simultaneously available to all or a selected group of PM account holders via the ICM,";
"»indirect participant« means a credit institution established in the European Union or the European Economic Area (EEA), which has entered into an agreement with a PM account holder to submit payment orders and receive payments via such PM account holder's PM account, and which has been recognised by a TARGET2 component system as an indirect participant,";
"»non-settled payment order« means a payment order that is not settled on the same-business day as that on which it is accepted,";
"»participant« [or »direct participant«] means an entity that holds at least one PM account (PM account holder) and/or one T2S Dedicated Cash Account (T2S DCA holder) and/or one TIPS Dedicated Cash Account (TIPS DCA holder) with a Eurosystem CB,";
"»payment order« means a credit transfer order, a liquidity transfer order, a direct debit instruction, a PM to T2S DCA liquidity transfer order or a PM to TIPS DCA liquidity transfer order,";
"»PM to T2S DCA liquidity transfer order« means the instruction to transfer a specified amount of funds from a PM account to a T2S DCA,";
"Article 3
General description of TARGET2
1. TARGET2 provides real-time gross settlement for payments in euro, with settlement in central bank money across PM accounts, T2S DCAs for the purpose of securities transactions and TIPS DCAs for the purpose of instant payments.
2. The following transactions are processed in TARGET2-ECB:
(a) transactions directly resulting from or made in connection with Eurosystem monetary policy operations;
(b) settlement of the euro leg of foreign exchange operations involving the Eurosystem;
(c) settlement of euro transfers resulting from transactions in cross-border large-value netting systems;
(d) settlement of euro transfers resulting from transactions in euro retail payment systems of systemic importance;
(e) settlement of the cash leg of securities transactions;
(f) T2S DCA to T2S DCA liquidity transfer orders, T2S DCA to PM liquidity transfer orders and PM to T2S DCA liquidity transfer orders;
(fa) instant payment orders;
(fb) positive recall answers;
(fc) TIPS DCA to PM liquidity transfer orders and PM to TIPS DCA liquidity transfer orders; and
(g) any other transactions in euro addressed to TARGET2 participants.
3. TARGET2 provides real-time gross settlement for payments in euro, with settlement in central bank money across PM accounts, T2S DCAs and TIPS DCAs. TARGET2 is established and functions on the basis of the SSP through which payment orders are submitted and processed and through which payments are ultimately received in the same technical manner. As far as the technical operation of the T2S DCAs is concerned, TARGET2 is technically established and functions on the basis of the T2S Platform. As far as the technical operation of the TIPS DCAs is concerned, TARGET2 is technically established and functions on the basis of the TIPS Platform.
4. The ECB is the provider of services under these Conditions. Acts and omissions of the SSP-providing NCBs shall be considered acts and omissions of the ECB, for which it shall assume liability in accordance with Article 25 below. Participation pursuant to these Conditions shall not create a contractual relationship between PM account holders and the SSP-providing NCBs when any of the latter acts in that capacity. Instructions, messages or information which a PM account holder receives from, or sends to, the SSP in relation to the services provided under these Conditions are deemed to be received from, or sent to, the ECB.
5. TARGET2 is legally structured as a multiplicity of payment systems composed of all the TARGET2 component systems, which are designated as »systems« under the national laws implementing the Settlement Finality Directive. TARGET2-ECB is designated as a »system« under § 1(16) of the KWG.
6. Participation in TARGET2 takes effect via participation in a TARGET2 component system. These Conditions describe the mutual rights and obligations of PM account holders in TARGET2-ECB and the ECB. The rules on the processing of payment orders under these Conditions (Title IV and Appendix I) refer to all payment orders submitted or payments received by any PM account holder.
7. No intraday credit is provided to participants in TARGET2-ECB.";
"Up-to-date information on the SSP's operational status shall be available on the TARGET2 Information System (T2IS) on a dedicated webpage on the ECB's website.";
"4a. The holder of the Linked PM account shall be responsible for informing in a timely manner their TIPS DCA holders of any relevant ICM broadcast message, including those related to the suspension or termination of any TIPS DCA holder's participation in TARGET2-ECB.";
"8. Participants shall immediately inform the the ECB if an event of default occurs in relation to themselves.";
"5. A PM account holder accepting its PM account to be designated as the Main PM account shall be bound by any invoices related to the opening and operation of each T2S DCA linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the T2S DCA holder.";
"7. A PM account holder accepting its PM account to be designated as the Linked PM account shall be bound by any invoices related to the opening and operation of each TIPS DCA linked to that PM account, as set out in Appendix VI to this Annex, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the TIPS DCA holder. A Linked PM account may be linked to a maximum of 10 TIPS DCAs.
8. The holder of a Linked PM account shall have an overview of the liquidity available on the TIPS DCAs linked to that PM account and ensure the TIPS DCA holders are aware of their responsibility to manage that liquidity.";
"(c) liquidity transfer orders;
(d) PM to T2S DCA liquidity transfer orders; and";
"(e) PM to TIPS DCA liquidity transfer orders.";
"3. The SSP attaches its timestamp for the processing of payment orders in the sequence of their receipt.";
"2. Highly urgent payment orders may only be designated by:
a) CBs; and
b) participants, in cases of payments to and from CLS Bank International, with the exception of payments related to the CLS CCP service and, at the discretion of the Governing Council, the CLSNow service, and liquidity transfers in relation to ancillary system settlement using the ASI.
All payment instructions submitted by an ancillary system through the ASI to debit or credit the participants' PM accounts and all PM to T2S DCA liquidity transfer orders and PM to TIPS DCA liquidity transfer orders submitted shall be deemed to be highly urgent payment orders.";
"(b) may be used to initiate liquidity transfer orders, TIPS DCA to PM liquidity transfer orders, PM to TIPS DCA liquidity transfer orders, PM to T2S DCA liquidity transfer orders and, when the ICM is used in combination with the T2S value added services, T2S DCA to PM liquidity transfer orders; and";
"5. Notwithstanding Sections 675(u), 675(v), 675(x), 675(y), 675(z), 676(a), 676(c) of the German Civil Code (Bürgerliches Gesetzbuch), paragraphs 1 to 4 shall apply to the extent that the ECB's liability can be excluded.";
"For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU of the European Parliament and of the Council(* against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.
"(f) the ECB suspends, limits or terminates the participant's access to intraday credit pursuant to paragraph 12 of Annex III to Guideline ECB/2012/27.";
"1a. By derogation from paragraph 1, the participant agrees that information on any action taken under Article 28 shall not be considered as confidential.";
"2. By derogation from paragraph 1, the participant agrees that the ECB may disclose payment, technical or organisational information regarding the participant, participants from the same group or the participant's customers obtained in the course of the operation of TARGET2-ECB to:
(a) other CBs or third parties that are involved in the operation of TARGET2-ECB, to the extent that this is necessary for the efficient functioning of TARGET2 or the monitoring of the participant's or its group's exposure;
(b) other CBs in order to carry out the analyses necessary for market operations, monetary policy functions, financial stability or financial integration; or
(c) supervisory and oversight authorities of Member States and the Union, including CBs, to the extent that this is necessary for the performance of their public tasks, and provided in all such cases that the disclosure is not in conflict with the applicable law.
The ECB shall not be liable for the financial and commercial consequences of such disclosure.";
"(ii) the participant shall not enter any payment order for the transfer of funds to an account held by an entity different than the participant, into TARGET2 until it has obtained confirmation from the the ECB that the required notification has been made or the consent has been obtained by or on behalf of the payment service provider of the payee;";
"Notices to the ECB shall be submitted to the European Central Bank, Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure, Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany or to the BIC address of the ECB: ECBFDEFF.";
"(c) from the PM account to the technical account managed by the ancillary system using settlement procedure 6 real-time;
(d) by means of a PM to T2S DCA liquidity transfer order or, when the ICM is used in combination with the T2S value added services, a T2S DCA to PM liquidity transfer order; and";
"(e) by means of a PM to TIPS DCA liquidity transfer order or a TIPS DCA to PM liquidity transfer order.";
"(i) CLS Bank International-related payments, with the exception of payments related to the CLS CCP service and, at the discretion of the Governing Council, the CLSNow service;",
"(iii) T2S DCA to PM liquidity transfer orders.";
"Time | Description |
6.45-7.00 | Business window to prepare daytime operations (1) |
7.00-18.00 | Daytime processing |
17.00 | Cut-off time for customer payments, i.e. payments where the originator and/or the beneficiary of a payment is not a direct or indirect participant as identified in the system by the use of an MT 103 or MT 103+ message |
18.00 |
Cut-off time for interbank payments, i.e. payments other than customer payments Cut-off time for liquidity transfers between TARGET2 and TIPS |
Shortly after 18.00 | Completion of last algorithms in TARGET2 |
Upon completion of last algorithms | TARGET2 sends message to TIPS to initiate change of business day in TIPS |
Shortly after completion of last algorithms | End-of-day files (General Ledger) received from TIPS |
18.00-18.45 (2) | End-of-day processing |
18.15 (2) | General cut-off time for the use of standing facilities |
(Shortly after) 18.30 (3) | Data for the update of accounting systems are available to CBs |
18.45-19.30 (3) | Start-of-day processing (new business day) |
19.00 (3) -19.30 (2) | Provision of liquidity on the PM account |
19.30 (3) |
»Start-of-procedure« message and settlement of the standing orders to transfer liquidity from the PM accounts to the subaccounts/technical account (ancillary system-related settlement) Start of liquidity transfers between TARGET2 and TIPS |
19.30 (3) -22.00 | Execution of additional liquidity transfers via the ICM for settlement procedure 6 real time; execution of additional liquidity transfers via the ICM before the ancillary system sends the »start of cycle« messages for settlement procedure 6 interfaced; settlement period of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced) |
22.00-1.00 | Technical maintenance window |
1.00-7.00 |
Settlement procedure of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced) Liquidity transfers between TARGET2 and TIPS |
(1) »Daytime operations« means daytime processing and end-of-day processing. (2) Ends 15 minutes later on the last day of the Eurosystem reserve maintenance period. (3) Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period."; |
"6. Up-to-date information on the SSP's operational status shall be available on the TARGET2 Information System (T2IS) on a dedicated webpage on the ECB's website. The information on the SSP's operational status on T2IS and the ECB's website shall only be updated during normal business hours.";
"PM to T2S DCA liquidity transfer orders or PM to TIPS DCA liquidity transfer orders sent from a participant's PM account and T2S DCA to PM liquidity transfer orders or TIPS DCA to PM liquidity transfer orders received on a participant's PM account shall be charged according to the pricing option (a) or (b) above chosen for that PM account.";
"U2A queries downloaded | 0,7 | Per queried business item in any U2A query generated and downloaded" |
"Fees for Linked PM account holders
5a. The holder of the Linked PM account shall be charged the following fees for the TIPS service connected with the TIPS DCAs linked to that PM account.
Tariff items | Price (euro cent) | Explanation |
Settlement services | ||
Instant payment order | 0,20 | To be charged also for unsettled transactions |
Recall request | 0,00 | |
Negative recall answer | 0,00 | |
Positive recall answer | 0,20 | To be charged to the holder of the Linked PM account associated with the TIPS DCA to be credited (also for unsettled transactions) |
5b. Up to the first ten million instant payment orders and positive recall answers, cumulatively, received by the TIPS Platform by the end of 2019, shall be free of charge. The ECB shall charge Linked PM account holders for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.";
"Payments shall be made no later than the 14th business day of that month to the account specified by the ECB or shall be debited from an account specified by the PM account holder.";
"(iv) the ancillary system as Linked PM account holder shall be charged the following fees for TIPS service connected with the linked TIPS DCA(s):
Tariff items | Price (euro cent) | Explanation |
Settlement services | ||
Instant payment order | 0,20 | To be charged also for unsettled transactions |
Recall request | 0,00 | |
Negative recall answer | 0,00 | |
Positive recall answer | 0,20 | To be charged to the holder of the Linked PM account associated with the TIPS DCA to be credited (also for unsettled transactions) |
Up to the first ten million instant payment orders and positive recall answers, cumulatively, received by the TIPS Platform by the end of 2019, shall be free of charge. The ECB shall charge the ancillary system as Linked PM account holder for any further instant payment orders and positive recall answers received by the TIPS Platform by the end of 2019, in the following year.";
"TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A T2S DEDICATED CASH ACCOUNT (T2S DCA) IN TARGET2";
"»T2S Dedicated Cash Account (T2S DCA)«, means an account held by a T2S DCA holder, opened in TARGET2-ECB, and used for cash payments in relation to securities settlement in T2S,";
"»business day« or »TARGET2 business day« means any day on which TARGET2 is open for the settlement of payment orders, as set out in Appendix V,";
"g) where the participant's credit balance on its PM account, T2S DCA or TIPS DCA or all or a substantial part of the participant's assets are subject to a freezing order, attachment, seizure or any other procedure that is intended to protect the public interest or the rights of the participant's creditors;";
"»participant« or »direct participant« means an entity that holds at least one PM account (PM account holder) and/or one T2S Dedicated Cash Account (T2S DCA holder) and/or one TIPS Dedicated Cash Account (TIPS DCA holder) with a Eurosystem CB,";
"Article 4
General description of TARGET2
1. TARGET2 provides real-time gross settlement for payments in euro, with settlement in central bank money across PM accounts, T2S DCAs for the purpose of securities transactions and TIPS DCAs for the purpose of instant payments.
2. The following transactions are processed in TARGET2-ECB:
(a) transactions directly resulting from or made in connection with Eurosystem monetary policy operations;
(b) settlement of the euro leg of foreign exchange operations involving the Eurosystem;
(c) settlement of euro transfers resulting from transactions in cross-border large-value netting systems;
(d) settlement of euro transfers resulting from transactions in euro retail payment systems of systemic importance;
(e) settlement of the cash leg of securities transactions;
(f) T2S DCA to T2S DCA liquidity transfer orders, T2S DCA to PM liquidity transfer orders and PM to T2S DCA liquidity transfer orders;
(fa) instant payment orders;
(fb) positive recall answers;
(fc) TIPS DCA to PM liquidity transfer orders and PM to TIPS DCA liquidity transfer orders; and (g) any other transactions in euro addressed to TARGET2 participants.
3. TARGET2 provides real-time gross settlement for payments in euro, with settlement in central bank money across PM accounts, T2S DCAs and TIPS DCAs. TARGET2 is established and functions on the basis of the SSP through which payment orders are submitted and processed and through which payments are ultimately received in the same technical manner. As far as the technical operation of the T2S DCAs is concerned, TARGET2 is technically established and functions on the basis of the T2S Platform. As far as the technical operation of the TIPS DCAs is concerned, TARGET2 is technically established and functions on the basis of the TIPS Platform.
The ECB is the provider of services under these Conditions. Acts and omissions of the SSP-providing NCBs and the 4CBs shall be considered acts and omissions of the ECB, for which it shall assume liability in accordance with Article 21 below. Participation pursuant to these Conditions shall not create a contractual relationship between T2S DCA holders and the SSP-providing NCBs or the 4CBs when any of the latter acts in that capacity. Instructions, messages or information which a T2S DCA holder receives from, or sends to, the SSP or T2S Platform in relation to the services provided under these Conditions are deemed to be received from, or sent to, the ECB.
4. TARGET2 is legally structured as a multiplicity of payment systems composed of all the TARGET2 component systems, which are designated as »systems« under the national laws implementing Directive 98/26/EC. TARGET2-ECB is designated as a »system« under the national laws implementing Directive 98/26/EC. TARGET2-ECB is designated as a system under Section 1(16) of the KWG.
5. Participation in TARGET2 takes effect via participation in a TARGET2 component system. These Conditions describe the mutual rights and obligations of T2S DCA holders in TARGET2-ECB and the ECB. The rules on the processing of payment orders under these Conditions (Title IV and Appendix I) refer to all payment orders submitted or payments received by any T2S DCA holder.";
"(ii) for entities established outside the EEA, provide a country opinion in the form specified in Appendix III, unless the information and representations to be provided in such country opinion have already been obtained by the ECB in another context.";
"3. The ECB may also request any additional information it deems necessary to decide on the application to open a T2S DCA.";
"5. The ECB shall communicate its decision on the application to open a T2S DCA to the applicant T2S DCA holder within one month of the ECB's receipt thereof. Where the ECB requests additional information pursuant to paragraph 3, the decision shall be communicated within one month of the ECB's receipt of this information from the applicant T2S DCA holder. Any rejection decision shall contain reasons for the rejection.";
"3. Up-to-date information on the operational status of the SSP and the T2S Platform shall be available on the TARGET2 Information System (T2IS) and the TARGET2-Securities Information System, respectively, on dedicated webpages on the ECB's website. The T2IS and the TARGET2 Securities Information System may be used to obtain information on any event affecting the normal operation of the respective platforms.";
"3. The T2S Platform attaches its timestamp for the processing of payment orders in the sequence of their receipt.";
"2. For the purposes of the first sentence of Article 3(1) and Article 5 of Directive 98/26/EC and the third sentence of Section 116, Section 96(2), Section 82 and Section 340(3) of the German Insolvency Code (Insolvenzordnung) and the last sentence of Section 46(2) of the KWG, and for all transactions settling on T2S DCAs, the following rules apply:
(a) for all transactions settling on T2S DCAs and which are subject to matching of two separate transfer orders, such transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by the T2S Platform and irrevocable at the moment the transaction has been given the status »matched« on the T2S Platform; or
(b) as an exception to point (a), for transactions involving one participating CSD having a separate matching component where transfer orders are sent directly to that participating CSD to be matched in its separate matching component, transfer orders are deemed entered into TARGET2-ECB at the moment at which they have been declared compliant with the technical rules of T2S by that participating CSD and irrevocable from the moment the transaction has been given the status »matched« on the T2S Platform. A list of CSDs for which this point (b) applies is available on the website of the ECB.";
"T2S DCA holders shall be exclusively responsible for the adequate protection of the confidentiality, integrity and availability of their systems.";
"The ECB may request further information about the incident and, if necessary, request that the T2S DCA holders take appropriate measures to prevent a recurrence of such an event.";
"Further technical details relating to the ICM are contained in Appendix I to Annex II to Decision ECB/2007/7.";
"5. Notwithstanding Sections 675(u), 675(v), 675(x), 675(y), 675(z), 676(a), 676(c) of the German Civil Code (Bürgerliches Gesetzbuch), paragraphs 1 to 4 shall apply to the extent that the ECB's liability can be excluded.";
"For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU against a T2S DCA holder shall not automatically qualify as the opening of insolvency proceedings.";
"3. The ECB shall promptly give the T2S DCA holder notice of any set-off pursuant to paragraph 2 after such set-off has taken place.";
"1a. By derogation from paragraph 1, the T2S DCA holder agrees that information on any action taken under Article 24 shall not be considered as confidential.";
"2. By derogation from paragraph 1, the DCA holder agrees that the ECB may disclose payment, technical or organisational information regarding the DCA holder, other DCAs held by DCA holders of the same group, or the DCA holder's customers obtained in the course of the operation of TARGET2-ECB to:
(a) other CBs or third parties that are involved in the operation of TARGET2-ECB, to the extent that this is necessary for the efficient functioning of TARGET2, or the monitoring of the DCA holder's or its group's exposure;
(b) other CBs in order to carry out the analyses necessary for market operations, monetary policy functions, financial stability or financial integration; or
(c) supervisory and oversight authorities of Member States and the Union, including CBs, to the extent that this is necessary for the performance of their public tasks, and provided in all such cases that the disclosure is not in conflict with the applicable law.
The ECB shall not be liable for the financial and commercial consequences of such disclosure.";
"(ii) the T2S DCA holder shall not enter any T2S DCA to PM liquidity transfer order or T2S DCA to T2S DCA liquidity transfer order, with the exception of such liquidity transfer orders between different accounts of the same T2S DCA holder, into TARGET2 until it has obtained confirmation from the ECB that the required notification has been made or the consent has been obtained by or on behalf of the payment service provider of the payee;";
"Notices to the ECB shall be submitted to the European Central Bank, Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure, Sonnemannstrasse 22, 60314 Frankfurt am Main, Germany or to the BIC address of the ECB: ECBFDEFF.";
"PARAMETERS OF THE T2S DEDICATED CASH ACCOUNTS - TECHNICAL SPECIFICATIONS";
"7. Up-to-date information on the operational status of the SSP and the T2S Platform shall be available on the TARGET2 Information System (T2IS) and the TARGET2-Securities Information System, respectively, on dedicated webpages on the ECB's website. The information on the operational status of the SSP and the T2S Platform on T2IS, TARGET2-Securities Information System and the ECB's website shall only be updated during normal business hours.";
"
TERMS AND CONDITIONS FOR THE OPENING AND OPERATION OF A TIPS DEDICATED CASH ACCOUNT (TIPS DCA) IN TARGET2-ECB
GENERAL PROVISIONS
Definitions
For the purposes of these Terms and Conditions (hereinafter the 'Conditions'), the following definitions apply:
Scope
The present Conditions govern the relationship between the ECB and its TIPS DCA holder as far as the opening and the operation of the TIPS DCA is concerned.
Appendices
Appendix I: Parameters of the TIPS DCA - Technical specifications
Appendix II: Terms of reference for capacity and country opinions
Appendix III: Operating schedule
Appendix IV: Fee schedule
Appendix V: TIPS connectivity technical requirements
General description of TARGET2
PARTICIPATION
Access criteria
Entities managing ancillary systems (including entities established outside the EEA) and acting in that capacity, whose access to TARGET2-ECB has been approved by the Governing Council, shall be the only entities that are eligible to become TIPS DCA holders upon request in TARGET2-ECB.
Application procedure
TIPS DCA holders
For both of these methods of access, the TIPS DCA holder shall use one or more TIPS DNs.
For both of these methods of access, the TIPS DCA holder shall use one TIPS DN to receive instant payment orders.
Reachable parties
TIPS network service providers
Sponsorship of network service providers
TIPS directory
OBLIGATIONS OF THE PARTIES
Obligations of the ECB and the TIPS DCA holders
Designation, suspension or termination of a Linked PM account
Cooperation and information exchange
MANAGEMENT OF TIPS DCAs AND PROCESSING OF PAYMENT ORDERS
Opening and management of TIPS DCAs
Name | Format | Content | |
Part A | Account type | 1 char. exactly | 'I' for instant payment account |
Country code of the central bank | 2 char. exactly | ISO country code 3166-1 | |
Currency code | 3 char. exactly | EUR | |
Part B | Account holder | 11 char. exactly | BIC |
Part C | Sub-classification of the account | Up to 17 char. | Free text (alphanumeric) to be provided by the TIPS DCA holder |
Types of payment orders in TIPS DCA
The following are classified as payment orders for the purposes of the TIPS service:
Acceptance and rejection of payment orders
Processing of payment orders on TIPS DCAs
Recall request
Moment of entry, moment of irrevocability
SECURITY REQUIREMENTS, BUSINESS CONTINUITY AND USER INTERFACE
Security requirements and business continuity
User interfaces
As regards the ICM, further technical details are contained in Appendix I to Annex II to Decision ECB/2007/7.
LIABILITY REGIME AND EVIDENCE
Liability regime
Evidence
TERMINATION AND CLOSURE OF TIPS DCAs
Duration and ordinary termination of TIPS DCAs
Suspension and extraordinary termination of participation
For the purposes of this paragraph, the taking of crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU of the European Parliament and of the Council 7 against a TIPS DCA holder shall not automatically qualify as the opening of insolvency proceedings.
Linked PM account holders shall have the responsibility to inform their Linked TIPS DCA holders of the suspension or termination of any TIPS DCA holder's participation in TARGET2-ECB.
Closure of TIPS DCAs
FINAL PROVISIONS
The ECB's rights of pledge and set-off
all obligations of the TIPS DCA holder shall be automatically and immediately accelerated, without prior notice and without the need for any prior approval of any authority, so as to be immediately due. In addition, the mutual obligations of the TIPS DCA holder and the ECB shall automatically be set off against each other, and the party owing the higher amount shall pay to the other the difference.
Confidentiality
The ECB shall not be liable for the financial and commercial consequences of such disclosure.
Data protection, prevention of money laundering, administrative or restrictive measures and related issues
For the purposes of this paragraph, the terms 'payment service provider', 'payer' and 'payee' shall have the meanings ascribed to them in the applicable administrative or restrictive measures.
Notices
Amendment procedure
The ECB may at any time unilaterally amend these Conditions, including the Appendices. Amendments to these Conditions, including the Appendices, shall be announced by means of communication in writing to the participants. Amendments shall be deemed to have been accepted unless the TIPS DCA holder expressly objects within 14 days of being informed of such amendments. In the event that a TIPS DCA holder objects to the amendment, the ECB is entitled immediately to terminate and close that TIPS DCA holder's TIPS DCA in TARGET2-ECB.
Third party rights
Governing law, jurisdiction and place of performance
Severability
If any provision in these Conditions is or becomes invalid, this shall not prejudice the applicability of all the other provisions of these Conditions.
Entry into force and binding nature
PARAMETERS OF THE TIPS DCAs - TECHNICAL SPECIFICATIONS
The following system message types are processed, subject to subscription:
Message Type | Message Name |
Pacs.002 | FIToFIPayment Status Report |
Pacs.004 | PaymentReturn |
Pacs.008 | FIToFICustomerCreditTransfer |
Pacs.028 | FIToFIPaymentStatusRequest |
camt.003 | GetAccount |
camt.004 | ReturnAccount |
camt.011 | ModifyLimit |
camt.019 | ReturnBusinessDayInformation |
camt.025 | Receipt |
camt.029 | ResolutionOfInvestigation |
camt.050 | LiquidityCreditTransfer |
camt.052 | BankToCustomerAccountReport |
camt.053 | BankToCustomerStatement |
camt.054 | BankToCustomerDebitCreditNotification |
camt.056 | FIToFIPaymentCancellationRequest |
acmt.010 | AccountRequestAcknowledgement |
acmt.011 | AccountRequestRejection |
acmt.015 | AccountExcludedMandateMaintenanceRequest |
reda.016 | PartyStatusAdviceV01 |
reda.022 | PartyModificationRequestV01 |
All payment orders shall pass a double-entry check, the aim of which is to reject payment orders that have been submitted more than once.
If an instant payment order or a positive recall answer is rejected for any reason, the TIPS DCA holder shall receive a payment status report [pacs.002], as described in Chapter 4.2 of the TIPS UDFS. If a liquidity transfer order is rejected for any reason, the TIPS DCA holder shall receive a rejection [camt.025], as described in Chapter 1.6 of the TIPS UDFS.
Liquidity transfer orders are not recycled, queued or offset. The different statuses for liquidity transfer orders are described in Chapter 1.4.2 of the TIPS UDFS.
In A2A, information and messages are transferred between the TIPS Platform and the TIPS DCA holder's internal application. The TIPS DCA holder therefore has to ensure that an appropriate application is available for the exchange of XML messages (requests and responses).
U2A permits direct communication between a TIPS DCA holder and the TIPS GUI. The information is displayed in a browser running on a PC system. For U2A access the IT infrastructure has to be able to support cookies and JavaScript. Further details are described in the TIPS User Handbook.
Further details and examples explaining the above rules are contained in the User Handbooks and UDFS as relevant for TIPS, as amended from time to time and published on the ECB's website in English.
TERMS OF REFERENCE FOR CAPACITY AND COUNTRY OPINIONS
The European Central Bank
Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure
Sonnemannstrasse 22
60314 Frankfurt am Main
Germany
Participation in the TARGET2-ECB
[location]
[date]
Dear Sir or Madam,
We have been asked to provide this Opinion as [in-house or external] legal advisers to [specify name of TIPS DCA holder or branch of TIPS DCA holder] in respect of issues arising under the laws of [jurisdiction in which the TIPS DCA holder is established; hereinafter the 'jurisdiction'] in connection with the participation of [specify name of TIPS DCA holder] (hereinafter the 'TIPS DCA holder') in the TARGET2-ECB (hereinafter the 'System').
This Opinion is confined to the laws of [jurisdiction] as they exist as on the date of this Opinion. We have made no investigation of the laws of any other jurisdiction as a basis for this Opinion, and do not express or imply any opinion in this regard. Each of the statements and opinions presented below applies with equal accuracy and validity under the laws of [jurisdiction], whether or not the TIPS DCA holder acts through its head office or one or more branches established inside or outside of [jurisdiction] in submitting payment orders and receiving payments.
I. Documents examined
For the purposes of this Opinion, we have examined:
(1) a certified copy of the [specify relevant constitutional documents] of the TIPS DCA holder such as is/are in effect on the date hereof;
(2) [if applicable] an extract from the [specify relevant company register] and [if applicable] [register of credit institutions or analogous register];
(3) [to the extent applicable] a copy of the TIPS DCA holder's licence or other proof of authorisation to provide banking, investment, funds transfer or other financial services in [jurisdiction];
(4) [if applicable] a copy of a resolution adopted by the board of directors or the relevant governing body of the TIPS DCA holder on [insert date], [insert year], evidencing the TIPS DCA holder's agreement to adhere to the System Documents, as defined below; and
(5) [specify all powers of attorney and other documents constituting or evidencing the requisite power of the person or persons signing the relevant System Documents (as defined below) on behalf of the TIPS DCA holder];
and all other documents relating to the TIPS DCA holder's constitution, powers, and authorisations necessary or appropriate for the provision of this Opinion (hereinafter the 'TIPS DCA holder's Documents').
For the purposes of this Opinion, we have also examined:
(1) the Terms and Conditions for the Opening and Operation of a TIPS Dedicated Cash Account (TIPS DCA) in TARGET2-ECB dated [insert date] (hereinafter the 'Rules'); and
(2) [...].
The Rules and the [...] shall be referred to hereinafter as the 'System Documents' (and collectively with the TIPS DCA holder's Documents as the 'Documents').
II. Assumptions
For the purposes of this Opinion we have assumed in relation to the Documents that:
(1) the System Documents with which we have been provided are originals or true copies;
(2) the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany by which they are expressed to be governed, and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany;
(3) the TIPS DCA holder's Documents are within the capacity and power of and have been validly authorised, adopted or executed and, where necessary, delivered by the relevant parties; and
(4) the TIPS DCA holder's Documents are binding on the parties to which they are addressed, and there has been no breach of any of their terms.
III. Opinions regarding the TIPS DCA holder
A. The TIPS DCA holder is a corporation duly established and registered or otherwise duly incorporated or organised under the laws of [jurisdiction].
B. The TIPS DCA holder has all the requisite corporate powers to execute and perform the rights and obligations under the System Documents to which it is party.
C. The adoption or execution and the performance by the TIPS DCA holder of the rights and obligations under the System Documents to which the TIPS DCA holder is party will not in any way breach any provision of the laws or regulations of [jurisdiction] applicable to the TIPS DCA holder or the TIPS DCA holder Documents.
D. No additional authorisations, approvals, consents, filings, registrations, notarisations or other certifications of or with any court or governmental, judicial or public authority that is competent in [jurisdiction] are required by the TIPS DCA holder in connection with the adoption, validity or enforceability of any of the System Documents or the execution or performance of the rights and obligations thereunder.
E. The TIPS DCA holder has taken all necessary corporate action and other steps necessary under the laws of [jurisdiction] to ensure that its obligations under the System Documents are legal, valid and binding.
This Opinion is stated as of its date and is addressed solely to the ECB and the [TIPS DCA holder]. No other persons may rely on this Opinion, and the contents of this Opinion may not be disclosed to persons other than its intended recipients and their legal counsel without our prior written consent, with the exception of the national central banks of the European System of Central Banks [and [the national central bank/relevant regulatory authorities] of [jurisdiction]].
Yours faithfully,
[signature]
TERMS OF REFERENCE FOR COUNTRY OPINIONS FOR NON-EEA TIPS DCA HOLDERS IN TARGET2
The European Central Bank
Director-General of the ECB's Directorate-General Payment Systems and Market Infrastructure
Sonnemannstrasse 22
60314 Frankfurt am Main
Germany
Participation in TARGET2-ECB
[location],
[date]
Dear Sir or Madam,
We have been asked as [external] legal advisers to [specify name of TIPS DCA holder or branch of TIPS DCA holder] (the 'TIPS DCA holder') in respect of issues arising under the laws of [jurisdiction in which the TIPS DCA holder is established; hereinafter the 'jurisdiction'] to provide this Opinion under the laws of [jurisdiction] in connection with the participation of the TIPS DCA holder in a system which is a component of TARGET2 (hereinafter the 'System'). References herein to the laws of [jurisdiction] include all applicable regulations of [jurisdiction]. We express an opinion herein under the law of [jurisdiction], with particular regard to the TIPS DCA holder established outside the Federal Republic of Germany in relation to rights and obligations arising from participation in the System, as presented in the System Documents defined below.
This Opinion is confined to the laws of [jurisdiction] as they exist on the date of this Opinion. We have made no investigation of the laws of any other jurisdiction as a basis for this Opinion, and do not express or imply any opinion in this regard. We have assumed that there is nothing in the laws of another jurisdiction which affects this Opinion.
1. Documents examined
For the purposes of this Opinion, we have examined the documents listed below and such other documents as we have deemed necessary or appropriate:
(1) the Terms and Conditions for the Opening and Operation of a TIPS Dedicated Cash Account (TIPS DCA) in TARGET2-ECB dated [insert date] (hereinafter the 'Rules'); and
(2) any other document governing the System and/or the relationship between the TIPS DCA holder and other participants in the System, and between the participants in the System and the ECB.
The Rules and the [.] shall be referred to hereinafter as the 'System Documents'.
2. Assumptions
For the purposes of this Opinion we have assumed in relation to the System Documents that:
(1) the System Documents are within the capacity and power of and have been validly authorised, adopted or executed and, where necessary, delivered by the relevant parties;
(2) the terms of the System Documents and the rights and obligations created by them are valid and legally binding under the laws of the Federal Republic of Germany, by which they are expressed to be governed, and the choice of the laws of the Federal Republic of Germany to govern the System Documents is recognised by the laws of the Federal Republic of Germany;
(3) the participants in the System through which any payment orders are sent or payments are received, or through which any rights or obligations under the System Documents are executed or performed, are licensed to provide funds transfer services, in all relevant jurisdictions; and
(4) the documents submitted to us in copy or as specimens conform to the originals.
3. Opinion
Based on and subject to the foregoing, and subject in each case to the points set out below, we are of the opinion that:
3.1. Country-specific legal aspects [to the extent applicable]
The following characteristics of the legislation of [jurisdiction] are consistent with and in no way set aside the obligations of the TIPS DCA holder arising out of the System Documents: [list of country-specific legal aspects].
3.2. General insolvency issues
3.2.a. Types of insolvency proceedings
The only types of insolvency proceedings (including composition or rehabilitation) which, for the purpose of this Opinion, shall include all proceedings in respect of the TIPS DCA holder's assets or any branch it may have in [jurisdiction] to which the TIPS DCA holder may become subject in [jurisdiction], are the following: [list proceedings in original language and English translation] (together collectively referred to as 'Insolvency Proceedings').
In addition to Insolvency Proceedings, the TIPS DCA holder, any of its assets, or any branch it may have in [jurisdiction] may become subject in [jurisdiction] to [list any applicable moratorium, receivership, or any other proceedings as a result of which payment orders to and/or from the TIPS DCA holder may be suspended, or limitations can be imposed in relation to such payment orders, or similar proceedings in original language and English translation] (hereinafter collectively referred to as 'Proceedings').
3.2.b. Insolvency treaties
[jurisdiction] or certain political subdivisions within [jurisdiction], as specified, is/are party to the following insolvency treaties: [specify, if applicable which have or may have an impact on this Opinion].
3.3. Enforceability of System Documents
Subject to the points set out below, all provisions of the System Documents will be binding and enforceable in accordance with their terms under the laws of [jurisdiction], in particular in the event of the opening of any Insolvency Proceedings or Proceedings with respect to the TIPS DCA holder.
In particular, we are of the opinion that:
3.3.a. Processing of payment orders
The provisions on processing of payment orders [list of sections] of the Rules are valid and enforceable. In particular, all payment orders processed pursuant to such sections will be valid, binding and will be enforceable under the laws of [jurisdiction]. The provision of the Rules which specifies the precise point in time at which payment orders become enforceable and irrevocable (Article 20) is valid, binding and enforceable under the laws of [jurisdiction].
3.3.b. Authority of the ECB to perform its functions
The opening of Insolvency Proceedings or Proceedings in respect of the TIPS DCA holder will not affect the authority and powers of the ECB arising out of the System Documents. [Specify [to the extent applicable] that: the same opinion is also applicable in respect of any other entity which provides the TIPS DCA holders with services directly and necessarily required for participation in the System, e.g. TIPS network service provider].
3.3.c. Remedies in the event of default
[Where applicable to the TIPS DCA holder, the provisions contained in Article 28 of the Rules regarding accelerated performance of claims which have not yet matured, the set-off of claims for using the deposits of the TIPS DCA holder, the enforcement of a pledge, suspension and termination of participation, claims for default interest, and termination of agreements and transactions (Articles 25 to 28) are valid and enforceable under the laws of [jurisdiction].]
3.3.d. Suspension and termination
Where applicable to the TIPS DCA holder, the provisions contained in Article 26 of the Rules (in respect of suspension and termination of the TIPS DCA holder's participation in the System on the opening of Insolvency Proceedings or Proceedings or other events of default, as defined in the System Documents, or if the TIPS DCA holder represents any kind of systemic risk or has serious operational problems) are valid and enforceable under the laws of [jurisdiction].
3.3.e. Assignment of rights and obligations
The rights and obligations of the TIPS DCA holder cannot be assigned, altered or otherwise transferred by the TIPS DCA holder to third parties without the prior written consent of the ECB.
3.3.f. Choice of governing law and jurisdiction
The provisions contained in Articles 31 and 34 of the Rules, and in particular in respect of the governing law, the resolution of a dispute, competent courts, and service of process are valid and enforceable under the laws of [jurisdiction].
3.4. Voidable preferences
We are of the opinion that no obligation arising out of the System Documents, the performance thereof, or compliance therewith prior to the opening of any Insolvency Proceedings or Proceedings in respect of the TIPS DCA holder may be set aside in any such proceedings as a preference, voidable transaction or otherwise under the laws of [jurisdiction].
In particular, and without limitation to the foregoing, we express this opinion in respect of any transfer orders submitted by any participant in the System. In particular, we are of the opinion that the provisions of Article 20 of the Rules establishing the enforceability and irrevocability of transfer orders will be valid and enforceable and that a transfer order submitted by any participant and processed pursuant to Title IV of the Rules may not be set aside in any Insolvency Proceedings or Proceedings as a preference, voidable transaction or otherwise under the laws of [jurisdiction].
3.5. Attachment
If a creditor of the TIPS DCA holder seeks an attachment order (including any freezing order, order for seizure or any other public or private law procedure that is intended to protect the public interest or the rights of the TIPS DCA holder's creditors) - hereinafter referred to as an 'Attachment' - under the laws of [jurisdiction] from a court or governmental, judicial or public authority that is competent in [jurisdiction], we are of the opinion that [insert the analysis and discussion].
3.6. Collateral [if applicable]
3.6.a. Assignment of rights or deposit of assets for collateral purposes, pledge and/or repo
Assignments for collateral purposes will be valid and enforceable under the laws of [jurisdiction]. Specifically, the creation and enforcement of a pledge or repo under the Rules will be valid and enforceable under the laws of [jurisdiction].
3.6.b. Priority of assignees', pledgees' or repo purchasers' interest over that of other claimants
In the event of Insolvency Proceedings or Proceedings in respect of the TIPS DCA holder, the rights or assets assigned for collateral purposes, or pledged by the TIPS DCA holder in favour of the ECB or other participants in the System, will rank in priority of payment above the claims of all other creditors of the TIPS DCA holder and will not be subject to priority or preferential creditors.
3.6.c. Enforcing title to security
Even in the event of Insolvency Proceedings or Proceedings in respect of the TIPS DCA holder, other participants in the System and the ECB as pledgees will still be free to enforce and collect the TIPS DCA holder's rights or assets through the action of the ECB pursuant to the Rules.
3.6.d. Form and registration requirements
There are no form requirements for the assignment for collateral purposes of, or the creation and enforcement of a pledge or repo over the TIPS DCA holder's rights or assets and it is not necessary for the [assignment for collateral purposes, pledge or repo, as applicable], or any particulars of such [assignment, pledge or repo, as applicable,] to be registered or filed with any court or governmental, judicial or public authority that is competent in [jurisdiction].
3.7. Branches [to the extent applicable]
3.7.a. Opinion applies to action through branches
Each of the statements and opinions presented above with regard to the TIPS DCA holder applies with equal accuracy and validity under the laws of [jurisdiction] in situations where the TIPS DCA holder acts through its one or more of its branches established outside [jurisdiction].
3.7.b. Conformity with law
Neither the execution and performance of the rights and obligations under the System Documents nor the submission, transmission or receipt of payment orders by a branch of the TIPS DCA holder will in any respect breach the laws of [jurisdiction].
3.7.c. Required authorisations
Neither the execution and performance of the rights and obligations under the System Documents nor the submission, transmission or receipt of payment orders by a branch of a TIPS DCA holder will require any additional authorisations, approvals, consents, filings, registrations, notarisations or other certifications of or with any court or governmental, judicial or public authority that is competent in [jurisdiction].
This Opinion is stated as of its date and is addressed solely to the ECB and the [TIPS DCA holder]. No other persons may rely on this Opinion, and the contents of this Opinion may not be disclosed to persons other than its intended recipients and their legal counsel without our prior written consent, with the exception of the national central banks of the European System of Central Banks [and [the national central bank/relevant regulatory authorities] of [jurisdiction]].
Yours faithfully,
[signature]
OPERATING SCHEDULE
SSP schedule | TIPS schedule (applicable to TIPS DCAs) | ||
Time | Description | Time | Description |
6.45-7.00 | Business window to prepare daytime operations (1) | ||
7.00-18.00 | Daytime processing | ||
17.00 | Cut-off time for customer payments | ||
18.00 | Cut-off time for interbank payments Cut-off time for liquidity transfers (2) | 18.00 | Cut-off time for liquidity transfers (2) |
Shortly after 18.00 | Completion of last algorithms | ||
Upon completion of last algorithms | Send message to TIPS to inform that change of business day can be performed | Upon receipt of message from SSP | - Change of business day in TIPS - Snapshot of balances on TIPS DCAs and generation of End-of-day files (General Ledger) |
18.00-18.45 (3) | End-of-day processing | ||
18.15 (3) | General cut-off time for the use of standing facilities | ||
(Shortly after) 18.30 (4) | Data for the update of accounting systems are available to CBs | ||
18.45-19.30 (4) | Start-of-day processing (new business day) | ||
19.00 (4) -19.30 (3) | Provision of liquidity on the PM account | ||
19.30 (3) | 'Start-of-procedure' message and settlement of the standing orders to transfer liquidity from the PM accounts to the subaccounts/technical account (ancillary system-related settlement) & Start of liquidity transfers between TARGET2 and TIPS | 19.30 | Start of liquidity transfers between TARGET2 and TIPS |
19.30 (4) -22.00 | Execution of additional liquidity transfers via the ICM for settlement procedure 6 real-time; execution of additional liquidity transfers via the ICM before the ancillary system sends the 'start of cycle' messages for settlement procedure 6 interfaced; settlement period of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced) | ||
22.00-1.00 | Technical maintenance window (5) | 22.00 - 1.00 | Liquidity transfers not possible as the SSP is closed |
1.00-7.00 |
Settlement procedure of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced) Liquidity transfers between TARGET2 and TIPS |
||
(1) 'Daytime operations' means daytime processing and end-of-day processing. (2) Liquidity transfers entered into the system before the cut-off time will be processed. (3) Ends 15 minutes later on the last day of the Eurosystem reserve maintenance period. (4) Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period. (5) Over a weekend or on a holiday, the technical maintenance window will last throughout the weekend or the holiday, i.e., from 22.00 on Friday until 1.00 on Monday or, in the case of a holiday, from 22.00 on the last business day until 1.00 on the next business day. |
FEE SCHEDULE
Tariff items | Price (euro cent) | Explanation |
Settlement services | ||
Instant payment order | 0,20 | To be charged also for unsettled transactions |
Recall request | 0,00 | |
Negative recall answer | 0,00 | |
Positive recall answer | 0,20 | To be charged to the holder of the Linked PM account associated with the TIPS DCA to be credited (also for unsettled transactions) |
TIPS CONNECTIVITY TECHNICAL REQUIREMENTS
General service description
Ministerstwo Rodziny, Pracy i Polityki Społecznej nie zgodziło się na usunięcie z ustawy o zatrudnianiu cudzoziemców przepisu podnoszącego w kodeksie pracy kary dla pracodawców. Senacka Komisja Rodziny, Polityki Senioralnej i Społecznej zaakceptowała we wtorek jedynie poprawki Biura Legislacyjnego Senatu do tej ustawy. Nie można jednak wykluczyć, że na posiedzeniu Senatu inni senatorowie przejmą poprawki zgłaszane przez stronę pracodawców.
Grażyna J. Leśniak 11.03.2025Podczas ostatniego posiedzenia Sejmu, ku zaskoczeniu zarówno przedsiębiorców, jak i części posłów koalicji rządzącej, Lewica w ostatniej chwili „dorzuciła” do ustawy o warunkach dopuszczalności powierzania pracy cudzoziemcom poprawki zaostrzające kary za naruszanie przepisów prawa pracy - m.in. umożliwiające orzeczenie kary ograniczenia wolności. Jednocześnie zignorowano postulaty organizacji pracodawców, mimo wcześniejszych zapewnień rządu o ich poparciu.
Grażyna J. Leśniak 27.02.2025Już nie 30 tys. zł, a 50 tys. zł ma grozić maksymalnie pracodawcy, który zawrze umowę cywilnoprawną, choć powinien - umowę o pracę. Podobnie temu, który nie wypłaca w terminie wynagrodzenia za pracę lub innego świadczenia przysługującego pracownikowi albo uprawnionemu do tego świadczenia członkowi jego rodziny. A jeśli nie wypłaca przez okres co najmniej 3 miesięcy, to kara ma wynieść nawet 60 tys. złotych - zdecydował Sejm, przyjmując poprawkę Lewicy, zmieniającą Kodeks pracy w... ustawie dotyczącej cudzoziemców.
Grażyna J. Leśniak 25.02.2025500 zł zarobi członek obwodowej komisji wyborczej w wyborach Prezydenta RP, 600 zł - zastępca przewodniczącego, a 700 zł przewodniczący komisji wyborczej – wynika z uchwały Państwowej Komisji Wyborczej. Jeżeli odbędzie się ponownie głosowanie, zryczałtowana dieta wyniesie 75 proc. wysokości diety w pierwszej turze. Termin zgłaszania kandydatów na członków obwodowych komisji wyborczych mija 18 kwietnia
Robert Horbaczewski 20.01.20251 stycznia 2025 r. weszły w życie liczne zmiany podatkowe, m.in. nowe definicje budynku i budowli w podatku od nieruchomości, JPK CIT, globalny podatek wyrównawczy, PIT kasowy, zwolnienie z VAT dla małych firm w innych krajach UE. Dla przedsiębiorców oznacza to często nowe obowiązki sprawozdawcze i zmiany w systemach finansowo-księgowych. Firmy muszą też co do zasady przeprowadzić weryfikację nieruchomości pod kątem nowych przepisów.
Monika Pogroszewska 02.01.2025W 2025 roku minimalne wynagrodzenie za pracę wzrośnie tylko raz. Obniżeniu ulegnie natomiast minimalna podstawa wymiaru składki zdrowotnej płaconej przez przedsiębiorców. Grozi nam za to podwyżka podatku od nieruchomości. Wzrosną wynagrodzenia nauczycieli, a prawnicy zaczną lepiej zarabiać na urzędówkach. Wchodzą w życie zmiany dotyczące segregacji odpadów i e-doręczeń. To jednak nie koniec zmian, jakie czekają nas w Nowym Roku.
Renata Krupa-Dąbrowska 31.12.2024Identyfikator: | Dz.U.UE.L.2018.280.1 |
Rodzaj: | Decyzja |
Tytuł: | Decyzja EBC/2018/24 (2018/1625) zmieniająca decyzję EBC/2007/7 w sprawie warunków uczestnictwa w systemie TARGET2-ECB |
Data aktu: | 08/10/2018 |
Data ogłoszenia: | 09/11/2018 |
Data wejścia w życie: | 30/11/2018, 10/11/2018 |