Article 7 TARGET2 directory

United Kingdom

The TARGET2 directory is the database of BICs used for the routing of payment orders addressed to:

(a)

TARGET2 participants and their branches with multi-addressee access;

(b)

indirect participants of TARGET2, including those with multi-addressee access; and

(c)

addressable BIC holders of TARGET2.

It shall be updated weekly.

Unless otherwise requested by the participant, its BIC(s) shall be published in the TARGET2 directory.

Participants may only distribute the TARGET2 directory to their branches and entities with multi-addressee access.

Entities specified in paragraph 1(b) and (c) shall only use their BIC in relation to one direct participant.

Participants acknowledge that the ECB and other CBs may publish participants’ names and BICs.

Annotations

F1: Substituted by Decision of the European Central Bank of 6 October 2009 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2009/22) (2009/768/EC).
F2: Inserted by Decision of the European Central Bank of 6 October 2009 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2009/22) (2009/768/EC).

F1: Substituted 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).