Guideline (EU) 2024/2616 of the European Central Bank of 30 July 2024 amending Guideline (EU) 2022/912 on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) (ECB/2022/8) (ECB/2024/20)

‘8 The Eurosystem CBs shall not register, on their own accounts, addressable BIC holders or reachable parties which are eligible to participate in TARGET as set out in Annex I, Part I, Article 4, with the exception of the relevant Eurosystem CB’s own branches, those entities listed under Annex I, Part I, Article 4(2), points (a) and (b), and participants holding accounts listed in paragraph 2, point (d).’

1 This Guideline shall take effect on the day of its notification to the NCBs.

2 The NCBs shall take the necessary measures to comply with this Guideline and apply them from 1 December 2024. They shall notify the ECB of the texts and means relating to the measures by 31 October 2024, at the latest.

This Guideline is addressed to all Eurosystem central banks.

1 MCAs, DCAs and sub-accounts shall be remunerated at the rate set out in Article 2(3), point (b), of Decision (EU) 2024/1209 of the European Central Bank (ECB/2024/11), unless they are used to hold either of the following: (a) minimum reserves; (b) excess reserves. In the case of minimum reserves, the calculation and payment of remuneration of holdings shall be governed by Council Regulation (EC) No 2531/98 and Regulation (EU) 2021/378 (ECB/2021/1). In the case of excess reserves, the calculation and payment of remuneration of holdings shall be governed by Decision (EU) 2019/1743 of the European Central Bank (ECB/2019/31).

2 Overnight balances held on a TIPS AS technical account or on an RTGS AS technical account for AS settlement procedure D, and guarantee funds held by EEA financial market infrastructures, including those held on an AS guarantee fund account, shall be remunerated at the rate set out in Article 2(3), point (c), of Decision (EU) 2024/1209 (ECB/2024/11).

3 Government deposits as defined in Article 2, point (5), of Guideline (EU) 2019/671 of the European Central Bank (ECB/2019/7) shall be remunerated in accordance with the rules set out in Article 2(3), point (a), of Decision (EU) 2024/1209 (ECB/2024/11) [if applicable: and the rate of [insert NCB’s implementation of Article 2(3), point (a) of Decision (EU) 2024/1209 (ECB/2024/11)] % p.a. shall apply].