Article 27 Duration and ordinary termination of participation

Without prejudice to Article 28, participation in TARGET2-ECB is for an indefinite period of time.

A participant may terminate its participation in TARGET2-ECB at any time giving 14 business days' notice thereof, unless it agrees a shorter notice period with the ECB.

The ECB may terminate a participant's participation in TARGET2-ECB at any time giving three months' notice thereof, unless it agrees a different notice period with that participant.

On termination of participation, the confidentiality duties laid down in Article 32 remain in force for a period of five years starting on the date of termination.

On termination of participation, the PM accounts of the participant concerned shall be closed in accordance with Article 29.