Article 1U.K.Amendments

Decision ECB/2007/7 is amended as follows:

1.

the footnote in Article 1(1)(c) is replaced by the following:

‘(1)The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are all available on the ECB's website at www.ecb.europa.eu: (a) the Policy statement on euro payment and settlement systems located outside the euro area of 3 November 1998; (b) The Eurosystem's policy line with regard to consolidation in central counterparty clearing of 27 September 2001; (c) The Eurosystem policy principles on the location and operation of infrastructures settling in euro-denominated payment transactions of19 July 2007; (d) The Eurosystem policy principles on the location and operation of infrastructures settling euro-denominated payment transactions: specification of “legally and operationally located in the euro area” of 20 November 2008; (e) The Eurosystem oversight policy framework of July 2011, subject to the judgment of 4 March 2015, United Kingdom v European Central Bank, T-496/11, ECLI:EU:T:2015:496.’;

2.

Article 3 is replaced by the following:

‘Article 3Terms and conditions of TARGET2-ECB

The terms and conditions for the opening and operation of a PM account in TARGET2-ECB shall be those contained in Annex I to this Decision. The terms and conditions for the opening and operation of a dedicated cash account in TARGET2-ECB shall be those contained in Annex II to this Decision.’;

3.

the Annex to Decision ECB/2007/7 is amended in accordance with the Annex to this Decision.