This document is an excerpt from the EUR-Lex website
Document 32009D0022(01)
2009/768/EC: Decision of the European Central Bank of 6 October 2009 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2009/22)
2009/768/KE: Deċiżjoni tal-Bank Ċentrali Ewropew tas- 6 ta’ Ottubru 2009 li temenda d-Deċiżjoni BĊE/2007/7 dwar il-kundizzjonijiet tat-TARGET2-BĊE (BĊE/2009/22)
2009/768/KE: Deċiżjoni tal-Bank Ċentrali Ewropew tas- 6 ta’ Ottubru 2009 li temenda d-Deċiżjoni BĊE/2007/7 dwar il-kundizzjonijiet tat-TARGET2-BĊE (BĊE/2009/22)
ĠU L 274, 20.10.2009, p. 38–44
(BG, ES, CS, DA, DE, ET, EL, EN, FR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV) Dan id-dokument ġie ppubblikat f’edizzjoni(jiet) speċjali
(HR)
No longer in force, Date of end of validity: 19/03/2023; Impliċitament imħassar minn 32022D0911
20.10.2009 |
MT |
Il-Ġurnal Uffiċjali tal-Unjoni Ewropea |
L 274/38 |
DEĊIŻJONI TAL-BANK ĊENTRALI EWROPEW
tas-6 ta’ Ottubru 2009
li temenda d-Deċiżjoni BĊE/2007/7 dwar il-kundizzjonijiet tat-TARGET2-BĊE
(BĊE/2009/22)
(2009/768/KE)
IL-BORD EŻEKUTTIV TAL-BANK ĊENTRALI EWROPEW,
Wara li kkunsidra t-Trattat li jistabbilixxi l-Komunità Ewropea, partikolarment l-ewwel u r-raba’ inċiżi tal-Artikolu 105 tiegħu,
Wara li kkunsidra l-Istatut tas-Sistema Ewropea tal-Banek Ċentrali u tal-Bank Ċentrali Ewropew, b’mod partikolari l-Artikolu 11.6 u l-Artikoli 17, 22 u 23 tiegħu,
Billi:
(1) |
Il-Bank Ċentrali Ewropew (BĊE) jipparteċipa fit-TARGET2 biex jipproċessal-ħlasijiet tiegħu u l-ħlasijiet tal-klijenti tiegħu fit-TARGET2, u biex jipprovdi permezz tat-TARGET2 servizzi ta’ settlement lil organizzazzjonijiet tal-ikklerjar u settlement, inkluż entitajiet stabbiliti barra ż-Żona Ekonomika Ewropea (ŻEE), iżda għandhom ikunu ssorveljati minn awtorità kompetenti u l-aċċess tagħhom għat-TARGET2-BĊE jkun appruvat mill-Kunsill Governattiv. |
(2) |
Il-Bord Eżekuttiv tal-Bank Ċentrali Ewropew (BĊE) adotta d-Deċiżjoni BĊE/2007/7 tal-24 ta’ Lulju 2007 dwar il-kundizzjonijiet tat-TARGET2-BĊE. (1) |
(3) |
Għandhom isiru emendi għad-Deċiżjoni BĊE/2007/7: (a) minħabba l-ħarġa l-ġdida tal-Pjattaforma Mqassma Waħda; (b) biex jiġu kkjarifikati l-prinċipji tal-post tas-sorveljanza speċifika li l-entitajiet li joffru servizzi fl-euro huma meħtieġa li jikkonformaw magħhom; (c) biex jiġi rifless numru ta’ titjib tekniku u editorjali u kjarifikazzjonijiet; u (d) biex jitħassru dispożizzjonijiet dwar il-migrazzjoni lejn it-TARGET2 li ma japplikawx iktar, |
IDDEĊIEDA KIF ĠEJ:
Artikolu 1
L-Artikolu 1(1)(c) tad-Deċiżjoni BĊE/2007/7 jinbidel b’dan li ġej:
“(c) |
servizzi ta’ settlement ta’ provvista lil entitajiet li jimmaniġġjaw sistemi anċillari, inklużi entitajiet stabbiliti barra l-ŻEE, iżda m’għandhomx ikunu suġġetti għas-sorveljanza minn awtorità kompetenti, għandhom jikkonformaw mar-rekwiżiti tas-sorveljanza għall-post tal-infrastrutturi li joffru servizzi fl-euro, kif inhuma emendati minn żmien għal żmien u ppubblikati fuq is-sit elettroniku tal-BĊE (*), u l-aċċess tagħhom għat-TARGET2-BĊE ikun ġie approvat mill-Kunsill Governattiv. |
Artikolu 2
L-Anness mad-Deċiżjoni BĊE/2007/7 huwa emendat skont l-Anness ma’ din id-Deċiżjoni.
Artikolu 3
Dħul fis-seħħ
1. L-Artikolu 1 ta’ din id-Deċiżjoni u l-paragrafi 1(a) u 2 tal-Anness ta’ din id-Deċiżjoni għandha tidħol fis-seħħ fit-23 ta’ Ottubru 2009.
2. Id-dispożizzjonijiet l-oħrajn ta’ din id-Deċiżjoni għandhom jidħlu fis-seħħ fit-23 ta’ Novembru 2009.
Magħmul fi Frankfurt am Main, is-6 ta’ Ottubru 2009.
Il-President tal-BĊE
Jean-Claude TRICHET
(1) ĠU L 237, 8.9.2007, p. 71.
ANNESS
L-Anness tad-Deċiżjoni BĊE/2007/7 huwa emendat kif ġej:
(1) |
L-Artikolu 1 huwa emendat kif ġej:
|
(2) |
L-Artikolu 4 jinbidel b’dan li ġej: “Artikolu 4 Il-kriterji tal-aċċess 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 for participation in TARGET2-ECB.” |
(3) |
L-Artikolu 7 huwa emendat kif ġej: Il-paragrafu 2 jinbidel kif ġej: “2. Unless otherwise requested by the participant, its BIC(s) shall be published in the TARGET2 directory.” Jiżdied il-paragrafu 5 li ġej: “5. Participants acknowledge that the ECB and other CBs may publish participants’ names and BICs.” |
(4) |
L-Artikolu 10(1) jinbidel kif ġej: “1. The ECB shall open and operate at least one PM account for each participant. Upon request by a participant acting as a settlement bank, the ECB shall open one or more sub-accounts in TARGET2-ECB to be used for dedicating liquidity.” |
(5) |
Jiddaħħal l-Artikolu 12(3): “3. The SSP determines the timestamp for the processing of payment orders on the basis of the time when it receives and accepts the payment order.” |
(6) |
L-Artikolu 13 jinbidel kif ġej: “Article 13 Priority rules 1. Instructing participants shall designate every payment order as one of the following:
If a payment order does not indicate the priority, it shall be treated as a normal payment order. 2. Highly urgent payment orders may only be designated by:
All payment instructions submitted by an ancillary system through the Ancillary System Interface to debit or credit the participants’ PM accounts shall be deemed to be highly urgent payment orders. 3. Liquidity transfer orders initiated via the ICM are urgent payment orders. 4. In the case of urgent and normal payment orders, the payer may change the priority via the ICM with immediate effect. It shall not be possible to change the priority of a highly urgent payment order.” |
(7) |
L-Artikolu 15(4) jinbidel kif ġej: “4. After receipt of the reservation request the ECB shall check whether the amount of liquidity on the participant’s PM account is sufficient for the reservation. If this is not the case, only the liquidity available on the PM account shall be reserved. The remainder of the requested liquidity shall be reserved if additional liquidity becomes available.” |
(8) |
Jiddaħħal l-Artikolu 15a li ġej: “Article 15a Standing instructions for liquidity reservation and dedication of liquidity 1. Participants may predefine the default amount of liquidity reserved for highly urgent or urgent payment orders via the ICM. Such standing instruction or a change to such instruction shall take effect from the next business day. 2. Participants may predefine via the ICM the default amount of liquidity set aside for ancillary system settlement. Such standing instruction or a change to such instruction shall take effect from the next business day. Participants shall be deemed to have instructed the ECB to dedicate liquidity on their behalf if the relevant ancillary system so requests.” |
(9) |
L-Artikolu 19 jinbidel kif ġej: “Article 19 Settlement and return of queued payment orders 1. Payment orders that are not settled immediately in the entry disposition shall be placed in the queues in accordance with the priority to which they were designated by the relevant participant, as referred to in Article 13. 2. To optimise the settlement of queued payment orders, the ECB may use the optimisation procedures described in Appendix I. 3. Except for highly urgent payment orders, the payer may change the queue position of payment orders in a queue (i.e. reorder them) via the ICM. Payment orders may be moved either to the front or to the end of the respective queue with immediate effect at any time during daytime processing, as referred to in Appendix V. 4. At the request of a payer, the ECB may decide to change the queue position of a highly urgent payment order (except for highly urgent payment orders in the context of settlement procedures 5 and 6) provided that this change would not affect the smooth settlement by ancillary systems in TARGET2 or would not otherwise give rise to systemic risk. 5. Liquidity transfer orders initiated in the ICM shall be immediately returned as non-settled if there is insufficient liquidity. Other payment orders shall be returned as non-settled if they cannot be settled by the cut-off times for the relevant message type, as specified in Appendix V.” |
(10) |
Fl- Artikolu 31, il-paragrafi 2 u 3 jinbidlu kif ġej: “2. The ECB shall freeze the balance on the sub-account of the participant upon communication by the ancillary system (via a ‘start-of-cycle’ message). Where applicable, the ECB shall thereafter increase or reduce the frozen balance by crediting or debiting cross-system settlement payments to or from the sub-account or crediting liquidity transfers to the sub-account or crediting liquidity transfers to the sub-account. Such freezing shall expire upon communication by the ancillary system (via an ‘end-of-cycle’ message). 3. By confirming the freezing of the balance on the participant’s sub-account, the ECB guarantees to the ancillary system payment up to the amount of this particular balance. By confirming, where applicable, the increase or reduction of the frozen balance upon crediting or debiting cross-system settlement payments to or from the sub-account or crediting liquidity transfers to the sub-account, the guarantee is automatically increased or reduced in the amount of the payment. Without prejudice to the abovementioned increase or reduction of the guarantee, the guarantee shall be irrevocable, unconditional and payable on first demand. If the ECB is not the ancillary system’s CB, the ECB shall be deemed instructed to issue the abovementioned guarantee to the ancillary system’s CB.” |
L-Appendiċi I hija emendata kif ġej:
(1) |
Il-paragrafu 2 huwa emendat kif ġej:
|
(2) |
Il-paragrafu 8 huwa emendat kif ġej: Is-subparagrafu 4(b) jinbidel kif ġej: “(b) User-to-application mode (U2 A) U2 A permits direct communication between a participant and the ICM. The information is displayed in a browser running on a PC system (SWIFT Alliance WebStation or another interface, as may be required by SWIFT). For U2 A access the IT infrastructure has to be able to support cookies and JavaScript. Further details are described in the ICM User Handbook.” Is-subparagrafu 5 jinbidel kif ġej:
|
L-Appendiċi II hija emendata kif ġej:
Il-paragrafu 2(a) jinbidel kif ġej:
“(a) |
A payer may submit a claim for an administration fee and interest compensation if, due to a technical malfunction of TARGET2, a payment order was not settled on the business day on which it was accepted.” |
L-Appendiċi III hija emendata kif ġej:
Fit-termini ta’ referenza għall-opinjonijiet tal-pajjiż għall-parteċipanti mhux taż-ŻEE fit-TARGET2, il-paragrafu 3.6.a jinbidel kif ġej:
“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].”
L-Appendiċi IV hija emendata kif ġej:
Il-paragrafu 1(b) jinbidel kif ġej:
“(b) |
All references to specific times in this Appendix are to the local time at the seat of the ECB, i.e. Central European Time (CET) (**). |
L-Appendiċi V hija emendata kif ġej:
“Appendix V
OPERATING SCHEDULE
1. |
TARGET2 is open on all days, except Saturdays, Sundays, New Year’s Day, Good Friday and Easter Monday (according to the calendar applicable at the seat of the ECB), 1 May, Christmas Day and 26 December. |
2. |
The reference time for the system is the local time at the seat of the ECB, i.e. CET or CEST. |
3. |
The current business day is opened during the evening of the previous business day and operates to the following schedule:
|
4. |
The ICM is available for liquidity transfers from 19.30 (1) until 18.00 the next day, except during the technical maintenance period from 22.00 until 1.00. |
5. |
The operating hours may be changed in the event that business continuity measures are adopted in accordance with paragraph 5 of Appendix IV. |
(***) Daytime operations means daytime processing and end-of-day processing.
(****) Ends 15 minutes later on the last day of the Eurosystem reserve maintenance period.
(*****) Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period.