Article 12 Opening and management of the T2S DCAF1F2
United Kingdom
The ECB shall open and operate at least one T2S DCA for each T2S DCA holder . A T2S DCA shall be identified by means of a unique account number of up to 34 characters 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 T2S DCA holder |
No debit balance shall be allowed on T2S DCAs .
The T2S DCA shall not hold any funds overnight. At the beginning and end of a business day, there shall be a zero balance on the T2S DCAs . T2S 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).
The T2S 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).
T2S DCAs shall be interest free.
Annotations
Textual amendments
- F1
- F2