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Document 32006O0011
Guideline of the European Central Bank of 3 August 2006 amending Guideline ECB/2005/16 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2006/11)
Guideline of the European Central Bank of 3 August 2006 amending Guideline ECB/2005/16 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2006/11)
Guideline of the European Central Bank of 3 August 2006 amending Guideline ECB/2005/16 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2006/11)
OJ L 221, 12.8.2006, p. 17–18
(ES, CS, DA, DE, ET, EL, EN, FR, IT, LV, LT, HU, NL, PL, PT, SK, SL, FI, SV) This document has been published in a special edition(s)
(BG, RO)
OJ L 118M, 8.5.2007, p. 1085–1086
(MT)
No longer in force, Date of end of validity: 14/09/2008; Repealed by 32007O0002
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Official Journal
|
12.8.2006 |
EN |
Official Journal of the European Union |
L 221/17 |
GUIDELINE OF THE EUROPEAN CENTRAL BANK
of 3 August 2006
amending Guideline ECB/2005/16 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET)
(ECB/2006/11)
(2006/562/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Treaty establishing the European Community and in particular to the first and fourth indents of Article 105(2) thereof and to Articles 3.1, 12.1, 14.3, 17, 18 and 22 of the Statute of the European System of Central Banks and of the European Central Bank,
Whereas:
|
(1) |
The fourth indent of Article 105(2) of the Treaty and the fourth indent of Article 3.1 of the Statute state that one of the basic tasks to be carried out through the European System of Central Banks (ESCB) is to promote the smooth operation of payment systems. |
|
(2) |
Article 22 of the Statute states that the European Central Bank (ECB) and national central banks (NCBs) may provide facilities to ensure efficient and sound clearing and payment systems within the Community and with other countries. |
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(3) |
In addition to connection via interlinking or through a bilateral link, a third form of connection to TARGET should be made available as a transitional measure in view of the future set-up of TARGET2. An NCB without its own RTGS system should be given access to the current TARGET infrastructure by remote participation in another NCB’s RTGS system. |
|
(4) |
Guideline ECB/2005/16 of 30 December 2005 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (1) should be amended to include specific provisions regulating remote participation, |
HAS ADOPTED THIS GUIDELINE:
Article 1
Guideline ECB/2005/16 is amended as follows:
|
1. |
The following definitions are inserted in Article 1:
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|
2. |
The following Article 2(3) is inserted: ‘3. When a remote NCB and credit institutions and other entities in its Member State remotely participate in a host NCB’s RTGS system in accordance with that RTGS system’s RTGS rules, the following specific additional provisions shall apply:
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Article 2
Final provisions
1. This Guideline is addressed to the NCBs of participating Member States.
2. This Guideline shall enter into force on 15 August 2006. It shall apply from 1 January 2007.
Done at Frankfurt am Main, 3 August 2006.
For the Governing Council of the ECB
The President of the ECB
Jean-Claude TRICHET