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Decision (EU) 2015/929 of the European Central BankShow full title
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)
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Article 12Opening and management of the DCA
1.The ECB shall open and operate at least one DCA for each DCA holder. A DCA shall be identified by means of a unique 34 character account number which will be structured as follows.
| Name | Format | Content | |
|---|---|---|---|
| Part A | Account type | 1 char. exactly | “C” for cash account |
| Country code of the central bank | 2 char. exactly | ISO country code 3166-1 | |
| Currency code | 3 char. exactly | EUR | |
| Part B | Account holder | 11 char. exactly | BIC Code |
| Part C | Sub-classification of the account | Up to 17 char. | Free text (alphanumeric) to be provided by the DCA holder |
2.No debit balance shall be allowed on DCAs.
3.The DCA shall not hold any funds overnight. At the beginning and end of a business day, there shall be a zero balance on the DCAs. DCA holders shall be deemed to have instructed the ECB to transfer any remaining balance at the end of a business day as defined in Appendix V to the Main PM account referred to in Article 11(1).
4.The DCA shall only be used within the period between the T2S start-of-day and T2S end-of-day as defined in the T2S User Detailed Functional Specifications (UDFS).
5.DCAs shall be interest free.
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