Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC)

[F1 Article 10 U.K. Cooperation and information exchange

1. In performing their obligations and exercising their rights under these Conditions, the ECB and [F2 T2S DCA holders] shall cooperate closely to ensure the stability, soundness and safety of TARGET2-ECB. They shall provide each other with any information or documents relevant for the performance of their respective obligations and the exercise of their respective rights under these Conditions, without prejudice to any banking secrecy obligations.

2. The ECB shall establish and maintain a system support desk to assist [F2 T2S DCA holders] in relation to difficulties arising in connection with system operations.

[F2 3. Up-to-date information on the operational status of the SSP and the T2S Platform shall be available on the TARGET2 Information System (T2IS) and the TARGET2-Securities Information System, respectively, on dedicated webpages on the ECB's website. The T2IS and the TARGET2 Securities Information System may be used to obtain information on any event affecting the normal operation of the respective platforms.]

4. The ECB may either communicate messages to [F2 T2S DCA holders by means of broadcast messages or by any other means of communication. T2S DCA holders] may collect information via the ICM, to the extent they also hold a PM account, or otherwise via the T2S GUI.

5. [F2 T2S DCA holders are responsible for the timely update of existing static data collection forms and the submission of new static data collection forms to the ECB. T2S DCA holders] are responsible for verifying the accuracy of information relating to them that is entered into TARGET2-ECB by the ECB.

6. The ECB shall be deemed to be authorised to communicate to the SSP-providing NCBs or the 4CBs any information relating to [F2 T2S DCA holders] which the former may need in their role as service administrators, in accordance with the contract entered into with the TARGET2 network service provider and/or the T2S network service provider.

7. [F2 T2S DCA holders] shall inform the ECB about any change in their legal capacity and relevant legislative changes affecting issues covered by the country opinion relating to them.

8. [F2 T2S DCA holders] shall inform the ECB of:

(a) any new holder of a securities account linked to the [F2 T2S DCA] pursuant to Article 8(1), which they accept; and

(b) any changes related to the holders of securities accounts listed in point (a).

[F3 9. T2S DCA holders shall immediately inform the ECB if an event of default occurs in relation to themselves or if they are subject to crisis prevention measures or crisis management measures within the meaning of Directive 2014/59/EU or any other equivalent applicable legislation.] ]

Textual Amendments

F1 Inserted by Decision (EU) 2015/929 of the European Central Bank of 26 May 2015 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2015/22).

F2 Substituted by Decision (EU) 2018/1625 of the European Central Bank of 8 October 2018 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2018/24).

F3 Substituted by Decision (EU) 2019/1848 of the European Central Bank of 29 October 2019 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2019/32).