1)

w art. 1 wprowadza się następujące zmiany:

2)

artykuł 4 otrzymuje brzmienie:

„Article 4

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 for participation in TARGET2-ECB.”;

3)

w art. 7 wprowadza się następujące zmiany:

ustęp 2 otrzymuje brzmienie:

„2.   Unless otherwise requested by the participant, its BIC(s) shall be published in the TARGET2 directory.”,

dodaje się ust. 5 w brzmieniu:

„5.   Participants acknowledge that the ECB and other CBs may publish participants’ names and BICs.”;

4)

artykuł 10 ust. 1 otrzymuje brzmienie:

„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)

dodaje się art. 12 ust. 3 w brzmieniu:

„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)

artykuł 13 otrzymuje brzmienie:

„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)

artykuł 15 ust. 4 otrzymuje brzmienie:

„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 rest of the requested liquidity shall be reserved if additional liquidity becomes available.”;

8)

dodaje się art. 15a w brzmieniu:

„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)

artykuł 19 otrzymuje brzmienie:

„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)

w art. 31 ust. 2 i 3 otrzymują brzmienie:

„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.”.

1)

w pkt 2 wprowadza się następujące zmiany:

2)

w pkt 8 wprowadza się następujące zmiany:

ustęp 4 lit. b) otrzymuje brzmienie:

„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.”;

ustęp 5 otrzymuje brzmienie: