{
  "url": "https://openlegislation.uk/eu-decision-2007-7/annex-II/appendix-IV",
  "json_url": "https://openlegislation.uk/eu-decision-2007-7/annex-II/appendix-IV.json",
  "legislation": "eudn/2007/7",
  "legislation_title": "Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2007-7",
  "path": "annex/II/appendix/IV",
  "kind": "appendix",
  "number": "IV",
  "heading": null,
  "text": "BUSINESS CONTINUITY AND CONTINGENCY PROCEDURES\n1.\nGeneral provisions\n(a)\nThis Appendix sets out the arrangements between the ECB and T2S DCA holders , if one or more components of TARGET2 or a network service provider fail or are affected by an abnormal external event, or if the failure affects any T2S DCA holder .\n(b)\nAll references to specific times in this Appendix are to the local time at the seat of the ECB, i.e. Central European Time (CET) .\n2.\nMeasures of business continuity\n(a)\nIn the event that an abnormal external event occurs and/or there is a failure of the SSP, the T2S Platform or a network service provider which affects the normal operation of TARGET2, the ECB shall be entitled to adopt business continuity measures.\n(b)\nThe following main business continuity and contingency measures shall be available for the SSP:\n(i) relocating the operation of the SSP to an alternative site;\n(ii) changing the SSP's operating hours; and\n(iii) initiating contingency processing of very critical and critical payment orders, as defined in paragraph 6(c) and (d) of Appendix IV to Annex II.\n(c)\nThe following main business continuity and contingency measures shall be available for the T2S Platform:\n(i) relocating the operation of the T2S Platform to an alternative site;\n(ii) rescheduling events in the T2S Settlement day.\n(d)\nIn relation to business continuity processing measures, the ECB shall have full discretion regarding what measures are adopted.\n3.\nIncident communication\n(a)\nInformation about a failure of the TARGET2 and/or an abnormal external event shall be communicated to T2S DCA holders through the domestic communication channels, the ICM, the T2S GUI and the T2S-information system as defined in the T2S UDFS. In particular, communications to T2S DCA holders shall include the following information:\n(i) a description of the event;\n(ii) the anticipated delay in processing (if known);\n(iii) information on the measures already taken.\n(b)\nIn addition, the ECB may notify T2S DCA holders of any other existing or anticipated event which has the potential to affect the normal operation of TARGET2.\n4.\nRelocation of the operation of the SSP and/or T2S Platform to an alternative site\n(a)\nIn the event that any of the events referred to in paragraph 2(a) occurs, the operation of the SSP and/or the T2S Platform may be relocated to an alternative site, either within the same region or in another region.\n(b)\nIn the event that the operation of the T2S Platform is relocated to another region, the T2S DCA holders shall (i) refrain from sending new instructions to the T2S Platform and (ii) at the request of the ECB perform a reconciliation and resubmit any instructions identified as missing submitted within a maximum of five minutes prior to the time of failure or the occurrence of the abnormal external event and provide the ECB with all relevant information in this respect.\n5.\nChange of operating hours\n(a)\nThe daytime processing of TARGET2 may be extended or the opening time of a new business day may be delayed. During any extended operating time of TARGET2, payment orders shall be processed in accordance with this Appendix.\n(b)\nTARGET2 daytime processing may be extended and the closing time thereby delayed, if a T2S Platform or SSP failure has occurred during the day but has been resolved before 18.00. Such a closing time delay shall in normal circumstances not exceed two hours and shall be announced as early as possible to T2S DCA holders . Once such a delay is announced it may not be withdrawn.\n6.\nFailures linked to T2S DCA holders\n(a)\nIn the event that a T2S DCA holder has a problem that prevents it from settling payment orders in TARGET2-ECB, it shall be its responsibility to resolve the problem.\n(b)\nIn the event that a T2S DCA holder unexpectedly submits an abnormally high number of messages, which threaten the stability of the T2S Platform, and does not, upon request of the ECB, refrain from such behaviour without delay, the ECB may block from the T2S Platform all further messages submitted by such T2S DCA holder .\n7.\nOther provisions\n(a)\nIn the event of a failure of the ECB, some or all of its technical functions in relation to TARGET2-ECB may be performed by other Eurosystem CBs.\n(b)\nThe ECB may require that the T2S DCA holders participate in regular or ad hoc testing of business continuity and contingency processing measures, training or any other preventative arrangements, as deemed necessary by the ECB. Any costs incurred by the T2S DCA holders as a result of such testing or other arrangements shall be borne solely by the T2S DCA holders .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "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)."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Substituted by Decision (EU) 2016/821 of the European Central Bank of 26 April 2016 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2016/9)."
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "CET takes into account the change to Central European Summer Time."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2007/7/annex/II/appendix/IV",
    "retrieved_at": "2026-11-01T15:17:18.350563+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}