Art. 10. - Art. 10: Opening and management of PM accounts - Decizia BCE/2007/7/24-iul-2007 privind termenii şi condiţiile TARGET2-ECB

Acte UE

Jurnalul Oficial 237L

Ieşit din vigoare

Versiune de la: 13 Iunie 2022

Art. 10: Opening and management of PM accounts

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.

2.No debit balance shall be allowed on PM accounts.

3.PM accounts and their sub-accounts shall be remunerated either at zero per cent or the deposit facility rate, whichever is lower.

4.Participants shall use the ICM to obtain information on their liquidity position. The ECB shall provide a daily statement of accounts to any participant that has opted for such service.

5.A PM account holder accepting its PM account to be designated as the Main PM account shall be bound by any invoices related to the opening and operation of each T2S DCA linked to that PM account, as set out in Appendix VI to this Annex, including any penalties levied in accordance with paragraph 9(d) of Annex IIIa, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the T2S DCA holder.

6.A Main PM account holder shall be bound by any invoices, as set out in Appendix VI to this Annex, for the linkage to each T2S DCA to which the PM account is linked.

7.A PM account holder accepting its PM account to be designated as the Linked PM account shall be bound by any invoices related to the opening and operation of each TIPS DCA linked to that PM account, as set out in Appendix VI to this Annex, regardless of the content of, or any non-compliance with, the contractual or other arrangements between that PM account holder and the TIPS DCA holder. A Linked PM account may be linked to a maximum of 10 TIPS DCAs.

8.The holder of a Linked PM account shall have an overview of the liquidity available on the TIPS DCAs linked to that PM account and ensure the TIPS DCA holders are aware of their responsibility to manage that liquidity.