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Article 25 Closure of T2S DCAsF1F2

United Kingdom

Original text. Later amendments are not shown.

1.

T2S DCA holders may request the ECB to close their T2S DCAs at any time provided they give the ECB 14 business days' notice thereof.

2.

On termination of participation, pursuant to either Article 23 or 24, the ECB shall close the T2S DCA of the T2S DCA holder concerned, after having settled or returned any unsettled payment orders and made use of its rights of pledge and set-off under Article 26.

Annotations

Textual amendments

F1

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).

F2

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).