Beschluss (EU) 2022/911 der Europäischen Zentralbank vom 19. April 2022 zu den TARGET-EZB-Bedingungen und zur Aufhebung des Beschlusses EZB/2007/7 (EZB/2022/22)

Durchsuchbarer Text in vereinfachter Darstellung. Tabellen, Abbildungen und verbindliche Gestaltung bitte anhand der Originaldateien prüfen.

and operate one or more TIPS DCAs. 2. There shall be no debit balance on a TIPS DCA. Article 2 Sending and receiving messages 1. A TIPS DCA holder may send messages: a) directly, and/or b) via one or more instructing parties. 2. A TIPS DCA holder shall receive messages: a) directly; or b) via one instructing party. 3. Part I, Article 7 shall apply to a TIPS DCA holder that sends or receives messages via an instructing party as though that TIPS DCA holder sends or receives messages directly. Article 3 Reachable parties 1. A TIPS DCA holder may designate one or more reachable parties. Reachable parties shall have adhered to the SCT Inst scheme by signing the SEPA Instant Credit Transfer Adherence Agreement. 2. A TIPS DCA holder shall provide evidence to the ECB of each designated reachable party’s adherence to the SCT Inst scheme. 3. A TIPS DCA holder shall inform the ECB if any designated reachable party no longer adheres to the SCT Inst scheme and shall, without undue delay, take steps to prevent the reachable party from accessing the TIPS DCA. 4. A TIPS DCA holder may allow its designated reachable parties access via one or more instructing parties. 5. Part I, Article 7 shall apply to TIPS DCA holders that designate reachable parties. 6. A TIPS DCA holder that has designated a reachable party shall ensure that at all times that reachable party is available for the purpose of receiving messages. Article 4 Transactions processed on TIPS DCAs 1. The following transactions shall be processed via a TIPS DCA in TARGET-ECB: a) instant payment orders; b) positive recall answers; c) liquidity transfer orders to TIPS AS technical Accounts, MCAs, T2S DCAs or RTGS DCAs; d) liquidity transfer orders to sub-accounts; e) Liquidity transfer orders to overnight deposit accounts. Article 5 Immediate liquidity transfer orders A TIPS DCA holder may submit immediate liquidity transfer orders. Article 6 Processing of cash transfer orders on TIPS DCAs 1. A timestamp for the processing of cash transfer orders is allocated in the sequence of their receipt. 2. All cash transfer orders submitted to TARGET-ECB shall be processed following the ‘first in, first out‘ (FIFO) principle without prioritisation or reordering. 3. After an instant payment order has been accepted as set out in Part I, Article 16, TARGET-ECB shall check if sufficient funds are available on the payer’s TIPS DCA to effect settlement and the following shall apply: a) if sufficient funds are not available, the instant payment order shall be rejected; b) if sufficient funds are available, the corresponding amount shall be reserved while awaiting the payee’s response. In the event of acceptance by the payee, the instant payment order shall be settled and the reservation shall be simultaneously lifted. In the event of rejection by the payee or the absence of a timely response, within the meaning of the SCT Inst scheme, the instant payment order shall be rejected and the reservation shall be simultaneously lifted. 4. Funds reserved in accordance with paragraph 3(b) shall not be available for the settlement of subsequent cash transfer orders. 5. Without prejudice to paragraph 3(b), the ECB shall reject an instant payment order if the amount of the instant payment order exceeds any applicable credit memorandum balance (CMB). 6. After an immediate liquidity transfer order has been accepted as set out in Part I, Article 16, TARGET-ECB shall check if sufficient funds are available on the payer’s TIPS DCA. If sufficient funds are not available the liquidity transfer order shall be rejected. 7. After a positive recall answer has been accepted as set out in Part I, Article 16, TARGET- ECB shall check if sufficient funds are available on the TIPS DCA to be debited. If sufficient funds are not available the positive recall answer shall be rejected. If sufficient funds are available the positive recall answer shall be settled immediately. 8. Without prejudice to paragraph 7, TARGET-ECB shall reject positive recall answers if the amount of the positive recall answer exceeds any applicable CMB. Article 7 Recall request 1. A TIPS DCA holder may submit a recall request. 2. The recall request shall be forwarded to the payee of the settled instant payment order which may answer with a positive or a negative recall answer. Article 8 TIPS directory 1. The TIPS directory is a list of BICs used for the purpose of routing information and comprises the BICs of: a) TIPS DCA holders; b) reachable parties. 2. The TIPS directory shall be updated daily. 3. TIPS DCA holders may only distribute the TIPS directory to their branches, their designated reachable parties and their instructing parties. Reachable parties may only distribute the TIPS directory to their branches. 4. A specific BIC shall only appear once in the TIPS directory. 5. TIPS DCA holders acknowledge that the ECB and other CBs may publish their names and BICs. In addition, the ECB and other CBs may publish names and BICs of reachable parties designated by TIPS DCA holders and TIPS DCA holders shall ensure that reachable parties have agreed to such publication. Article 9 MPL repository 1. The central Mobile Proxy Lookup (MPL) repository contains the proxy — IBAN mapping table for the purposes of the MPL service. 2. Each proxy may be linked to only one IBAN. An IBAN may be linked to one or multiple proxies. 3. Part I, Article 27 shall apply to the data contained in the MPL repository. Article 10 Processing of cash transfer orders in the event of suspension or extraordinary termination 1. Upon termination of a TIPS DCA holder’s participation in TARGET-ECB, the ECB shall not accept any new cash transfer orders to or from that TIPS DCA holder. 2. If a TIPS DCA holder’s participation in TARGET-ECB is suspended on grounds other than those specified in Part I, Article 24(1), point (a), the ECB shall: a) reject all of its incoming cash transfer orders; b) reject all of its outgoing cash transfer orders; or c) reject both its incoming and outgoing cash transfer orders. 3. If a TIPS DCA holder’s participation in TARGET-ECB is suspended on the grounds specified in Part I, Article 24(1), point (a), the ECB shall reject all of its incoming and outgoing cash transfer orders. 4. The ECB shall process instant payment orders of a TIPS DCA holder whose participation in TARGET-ECB has been suspended or terminated under Part I, Article 24(1) or (2) and in relation to which the ECB has reserved funds on a TIPS DCA pursuant to Article 6(3), point (b) prior to the suspension or termination. PART VI Special terms and conditions for ancillary systems (AS) using real-time gross settlement ancillary system (RTGS AS) settlement procedures Article 1 Opening and Management of AS technical accounts and use of RTGS AS settlement procedures 1. The ECB may on the request of an AS open and operate one or more RTGS AS technical accounts to support RTGS AS settlement procedures. 2. There shall be no debit balance on an RTGS AS technical account. 3. RTGS AS technical accounts shall not be published in the RTGS directory. 4. The AS shall select at least one of the following settlement procedures for the purposes of processing AS transfer orders: a) RTGS AS settlement procedure A; b) RTGS AS settlement procedure B; c) RTGS AS settlement procedure C; d) RTGS AS settlement procedure D; e) RTGS AS settlement procedure E. 5. The rules set out in Articles 3, 4, 5, 6 and 7 shall apply to RTGS AS settlement procedures A, B, C, D and E, respectively. 6. The RTGS AS settlement procedures shall be operational during the times set out in Appendix V. 7. The AS shall request the ECB to create a settlement bank account group. 8. The AS shall only send AS transfer orders to accounts included in the settlement bank account group referred to in paragraph 7. Article 2 Priority of AS transfer orders All AS transfer orders shall automatically be assigned the priority ‘urgent‘. Article 3 RTGS AS settlement procedure A 1. The AS shall request a dedicated RTGS AS technical account to support the processing of AS transfer orders using settlement procedure A. The balance on such account shall be zero at the end of the day. 2. The AS may request the opening of an AS guarantee fund account to support settlement in connection with the ‘settlement period‘ service. The balances on the AS guarantee fund account shall be used to settle AS transfer orders in the event that there is insufficient available liquidity on a settlement bank’s RTGS DCA. The AS guarantee fund account may be held by the ECB, the AS or an eligible participant. The AS guarantee fund account shall not be published in the RTGS directory. 3. The AS shall submit AS transfer orders as a batch in a single file in which the sum of debits must balance the sum of credits. 4. The ECB shall first attempt to settle AS transfer orders that debit the RTGS DCAs of settlement banks and crediting the AS’s RTGS AS technical account. Only upon settlement of all such AS transfer orders (including possible funding of the RTGS AS technical account from the AS guarantee fund account) the ECB shall attempt to settle AS transfer orders that debit the RTGS AS technical account and that credit the RTGS DCAs of settlement banks. 5. If an AS transfer order to debit a settlement bank’s RTGS DCA is queued, the ECB shall inform the settlement bank by means of a broadcast message. 6. If an AS guarantee fund account has been opened and a settlement bank has insufficient funds on its RTGS DCA, the AS may instruct the ECB to activate the guarantee fund mechanism by means of a request to debit the AS guarantee fund account and to credit the RTGS AS technical account. If the AS guarantee fund account does not have sufficient funds to complete settlement, the settlement process shall fail. 7. If the settlement process fails for any reason, including as referred to in paragraph 6, the ECB shall reject all unsettled AS transfer orders in the single file referred to in paragraph 3 and shall reverse any AS transfer orders that have already been settled. 8. The AS shall be notified on completion or failure of the settlement. 9. The AS may opt for the following services: a) the ‘information period‘ service, as referred to in Article 8(1); b) the ‘settlement period‘ service, as referred to in Article 8(3). Article 4 RTGS AS settlement procedure B 1. The AS shall request a dedicated RTGS AS technical account to support the processing of AS transfer orders using settlement procedure B. The balance on such account shall be zero at the end of day. 2. The AS may request the opening of an AS guarantee fund account to support settlement in connection with the ‘settlement period‘ service. The balances on the AS guarantee fund account shall be used to settle the AS transfer orders in the event that there is insufficient available liquidity on a settlement bank’s RTGS DCA. The AS guarantee fund account may be held by the ECB, the AS or an eligible participant. The AS guarantee fund account shall not be published in the RTGS directory. 3. The AS shall submit AS transfer orders as a batch in a single file in which the sum of debits must balance the sum of credits. 4. Settlement procedure B operates on an ‘all-or-nothing‘ basis. The ECB shall attempt to simultaneously settle all AS transfer orders that debit the RTGS DCAs of settlement banks and credit the AS’s RTGS AS technical account, and all AS transfer orders that debit the RTGS AS technical account and credit the RTGS DCAs of settlement banks. If one or more of the AS transfer orders cannot be settled, all AS transfer orders shall be queued and an optimisation algorithm shall be applied, and the settlement banks shall be informed. 5. If an AS guarantee fund account has been opened and a settlement bank has insufficient funds on its RTGS DCA, the AS may instruct the ECB to activate the guarantee fund mechanism by means of a request to debit the AS guarantee fund account and to credit the RTGS AS technical account. If the AS guarantee fund account does not have sufficient funds to complete settlement, the settlement process shall fail. 6. If the settlement process fails for any reason, including as referred to in paragraph 5, the ECB shall reject all unsettled AS transfer orders in the single file referred to in paragraph 3. 7. The AS shall be notified on completion or failure of the settlement. 8. The AS may opt for the following services: a) the ‘information period‘ service, as referred to in Article 8(1); b) the ‘settlement period‘ service, as referred to in Article 8(3). Article 5 RTGS AS settlement procedure C 1. Settlement procedure C supports settlement using dedicated liquidity on sub-accounts. The AS shall request a dedicated RTGS AS technical account to support the processing of AS transfer orders using settlement procedure C. The balance on such account shall be zero at the end of the day. This RTGS AS technical account may also be used to support the processing of AS transfer orders using settlement procedure E. 2. The AS shall ensure that each settlement bank opens at least one sub-account that is only to be used by the AS for the purposes of this settlement procedure. 3. The ECB shall start a mandatory settlement procedure C automatically on each TARGET business day according to the schedule set out in Appendix V, that shall trigger the settlement of those standing liquidity transfer orders set up for mandatory settlement procedure C by debiting the RTGS DCAs of the settlement banks and crediting the sub-account referred to in paragraph 2. 4. Settlement procedure C shall close by means of an end-of-procedure message, which may be sent by the AS at any time prior to the cut-off time for interbank payments as set out in Appendix V. If the AS does not send the end-of-procedure message by that cut-off time, the ECB shall close the procedure at that cut-off time. 5. The closure of the mandatory settlement procedure C leads to an automatic transfer of liquidity from the sub-account referred to in paragraph 2 to the RTGS DCA. 6. If the mandatory settlement procedure C is closed, the AS may start an optional procedure at any time before the cut-off time for interbank payments as set out in Appendix V, that shall trigger the settlement of those standing liquidity transfer orders set up for optional settlement procedure C by debiting the settlement bank’s RTGS DCA and crediting its RTGS sub-account. The AS may start and close one or several successive optional procedures before the cut-off time for interbank payments. The closure of an optional settlement procedure C leads to an automatic transfer of liquidity from the sub-account referred to in paragraph 2 to the RTGS DCA. 7. The mandatory settlement procedure C and any subsequent optional settlement procedure C may consist of one or several cycles. 8. The AS may, at any time after the start of a mandatory or optional settlement procedure C, start a cycle by means of a ‘start-of-cycle‘ message. After the start of the cycle, liquidity transfers from the sub-account referred to in paragraph 2 may not be made until an ‘end-of-cycle‘ message is sent by the AS. The balance can be changed during the cycle as a result of cross-system settlement payments or if a settlement bank transfers liquidity to its sub-account. The ECB shall notify the AS of the reduction or increase of liquidity on the sub-account as a result of cross-system settlement payments. If the AS so requests, the ECB shall also notify it of the increased liquidity on the sub-account as a result of liquidity transfer orders by the settlement bank. 9. The AS may submit AS transfer orders as a batch in one or several files while the cycle is open. The cash transfer orders may be for any of the following transactions: a) the debit of the sub-account of settlement banks and credit of the RTGS AS technical account; b) the debit of the RTGS AS technical account and credit of the sub-accounts of settlement banks; c) the debit of the RTGS AS technical account and credit of the RTGS DCAs of settlement banks. 10. The ECB shall immediately settle those AS transfer orders that can be settled. AS transfer orders that cannot be settled immediately shall be queued and an optimisation algorithm shall be applied. Any AS transfer orders which remain unsettled at the time the cycle is closed shall be rejected. 11. The AS shall be notified at the latest by the end of the cycle of the status of the individual AS transfer orders. Article 6 RTGS AS settlement procedure D 1. RTGS AS Settlement procedure D supports settlement with the use of pre-funding. The AS shall request a dedicated RTGS AS technical account to support the processing of AS transfer orders using settlement procedure D. 2. The RTGS AS technical accounts shall only have a zero balance or a positive balance. Liquidity may remain on the RTGS AS technical account overnight whereupon it will be subject to remuneration as set out in Part I, Article 12(2). 3. The ECB shall notify the AS of liquidity transfers debiting the RTGS DCAs of the settlement banks and crediting the RTGS AS technical account. These liquidity transfers may be made on each TARGET business day according to the schedule set out in Appendix V. The AS may input immediate liquidity transfer orders that debit the RTGS AS technical account and credit the RTGS DCAs of the settlement banks. Article 7 RTGS AS settlement procedure E 1. RTGS AS Settlement procedure E supports bilateral settlement and the individual processing of AS transfer orders. The AS may use Settlement Procedure E without an RTGS AS technical account for bilateral settlement. The AS shall request an RTGS AS technical account to support the processing of AS transfer orders using settlement procedure E if it opts for the individual processing of AS transfer orders. The balance on this RTGS AS technical account shall be zero at the end of the day. This RTGS AS technical account may also be used for settlement procedure C. 2. The AS may submit AS transfer orders as a batch in one or several files between: a) the RTGS DCAs of the settlement banks and the RTGS AS technical account if used; and b) the RTGS DCAs of the settlement banks. The AS shall be responsible for ensuring the correct sequencing of AS transfer orders in the file to ensure smooth settlement. 3. The ECB shall settle immediately those AS transfer orders that can be settled. AS transfer orders that cannot be settled immediately shall be queued. If an AS transfer order to debit a settlement bank’s RTGS DCA is queued, the settlement bank shall be informed via a broadcast message. 4. The AS may opt for the following services: a) the ‘information period‘ service, as referred to in Article 8(1); b) the ‘settlement period‘ service, as referred to in Article 8(3). 5. The AS shall be notified of the status of the individual AS transfer orders submitted. Article 8 Information period and settlement period 1. The ‘information period‘ service allows the AS to inform its settlement banks of the liquidity needed to ensure successful settlement. This optional service allows the AS to define a period before the start of the settlement of the AS transfer orders. During that period, and at the request of the settlement bank, the AS may revoke either single AS transfer orders (for RTGS AS settlement procedure E) or files (for RTGS AS settlement procedures A and B). The AS may also request the ECB to perform such revocation on its behalf. 2. In the event that an AS, or the ECB on its behalf, revokes single AS transfer orders (for RTGS AS settlement Procedure E) or files (for RTGS AS settlement procedures A and B) during the ‘information period‘, the processing of the AS transfer orders shall be cancelled. 3. The ‘settlement period‘ service allows the AS to define a period until which the settlement of the AS transfer orders can take place. This service is a prerequisite for the use of a guarantee fund account, and is optional for the use of AS technical accounts. 4. During the ‘settlement period‘ the AS, or the ECB on its behalf, may revoke either single AS transfer orders (for RTGS AS settlement procedure E) or files (for RTGS AS settlement procedures A and B) that do not have a final status and the following shall apply: a) if RTGS AS settlement procedure E is used for bilateral settlement, the relevant AS transfer orders shall be reversed; b) if RTGS AS settlement procedure E is not used for bilateral settlement, or if in RTGS AS settlement procedure A the entire settlement fails, any settled AS transfer orders in the file shall be reversed and all settlement banks and the AS shall be informed via a broadcast message. c) if RTGS AS settlement procedure B is used, the entire settlement fails and all settlement banks and the AS shall be informed via a broadcast message. Article 9 Cross system settlement 1. Cross-system settlement allows an AS to credit the RTGS AS technical account of another AS or sub-account of a settlement bank of another AS and is available for AS using RTGS AS settlement procedure C or D. 2. The ECB shall, on the request of the AS, allow cross-system settlement between that AS and another AS in TARGET-ECB or another TARGET component system. The requesting AS shall provide the ECB with the authorisation of the other AS. 3. A cross-system settlement may only be initiated if the two AS have opened a settlement procedure. Furthermore, if the cross-system settlement is initiated by an AS using RTGS AS settlement procedure C, a settlement cycle must also be open for that AS. 4. An AS using RTGS AS settlement procedure C in the context of cross-system settlement shall only submit AS transfer orders individually that debit the sub-account of one of its AS settlement banks. These AS transfer orders would credit the sub-account of the receiving AS settlement bank if that receiving AS is using RTGS AS settlement procedure C, or would credit the RTGS AS technical account of the receiving AS if that AS is using RTGS AS settlement procedure D. 5. An AS using RTGS AS settlement procedure D in the context of cross-system settlement shall only submit AS transfer orders individually that debit its RTGS AS technical account. These AS transfer orders would credit the sub-account of the receiving AS settlement bank if that receiving AS is using RTGS AS settlement procedure C, or would credit the RTGS AS technical account of the receiving AS if that AS is using RTGS AS settlement procedure D. Both AS using cross-system settlement shall be notified via a broadcast message of the settlement or rejection of the AS transfer orders. Article 10 Effect of suspension or termination If the suspension or termination of the use of the AS settlement procedures by an AS occurs during the settlement cycle of AS transfer orders, the ECB may complete the settlement cycle. PART VII Special terms and conditions for ancillary systems using the TARGET instant payment settlement (TIPS) ancillary system settlement procedure (TIPS AS settlement procedure) Article 1 Opening and management of a TIPS AS technical account 1. The ECB may on the request of an AS that settles instant payments pursuant to the SCT Inst scheme or near instant payments in its own books, open and operate one or more TIPS AS technical accounts. 2. There shall be no debit balance on a TIPS AS technical account. 3. The ancillary system shall use a TIPS AS technical account to collect the necessary liquidity set aside by its clearing members to fund their positions. 4. The ancillary