{
  "url": "https://openlegislation.uk/eu-decision-2007-7/annex-III/appendix-III",
  "json_url": "https://openlegislation.uk/eu-decision-2007-7/annex-III/appendix-III.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/III/appendix/III",
  "kind": "appendix",
  "number": "III",
  "heading": null,
  "text": "OPERATING SCHEDULE\n1.\nThe TIPS Platform is operated and available in U2A and A2A mode 24 hours a day, every day of the year.\n2.\nAfter the completion of the last algorithms in TARGET2, a message is sent to the TIPS platform after which the change of business day is initiated. After the start of the new business day the TIPS Platform sends a record to the SSP of the balances on the TIPS DCAs as they stood at the time of the change of business day.\n3.\nThe SSP is operated on all days, except Saturdays, Sundays, New Year's Day, Good Friday and Easter Monday (according to the calendar applicable at the seat of the ECB), 1 May, 25 December and 26 December.\n4.\nThe reference time for the system is the local time at the seat of the ECB, i.e. CET .\n5.\nThe operating hours may be changed in the event that business continuity measures are adopted.\n6.\nAn overview of the operating hours and significant business events during the day is shown in the following table. Settlement of instant payment orders continues without interruption 24/7/365. Liquidity transfers are possible at all times except those indicated in the table:\n‘ Daytime operations ’ means daytime processing and end-of-day processing.\nLiquidity transfers entered into the system before the cut-off time will be processed.\nEnds 15 minutes later on the last day of the Eurosystem reserve maintenance period.\nStarts 15 minutes later on the last day of the Eurosystem reserve maintenance period.\nOver a weekend or on a holiday, the technical maintenance window will last throughout the weekend or the holiday, i.e., from 22.00 on Friday until 1.00 on Monday or, in the case of a holiday, from 22.00 on the last business day until 1.00 on the next business day.\nSSP schedule\nTIPS schedule (applicable to TIPS DCAs)\nTime\nDescription\nTime\nDescription\n6.45-7.00\nBusiness window to prepare daytime operations\n7.00-18.00\nDaytime processing\n17.00\nCut-off time for customer payments\n18.00\nCut-off time for interbank payments\nCut-off time for liquidity transfers\n18.00\nCut-off time for liquidity transfers\nShortly after 18.00\nCompletion of last algorithms\nUpon completion of last algorithms\nSend message to TIPS to inform that change of business day can be performed\nUpon receipt of message from SSP\n— Change of business day in TIPS — Snapshot of balances on TIPS DCAs and generation of End-of-day files (General Ledger)\n18.00-18.45\nEnd-of-day processing\n18.15\nGeneral cut-off time for the use of standing facilities\n(Shortly after)\n18.30\nData for the update of accounting systems are available to CBs\n18.45-19.30\nStart-of-day processing (new business day)\n19.00 -19.30\nProvision of liquidity on the PM account\n19.30\n‘ Start-of-procedure ’ message and settlement of the standing orders to transfer liquidity from the PM accounts to the subaccounts/technical account (ancillary system-related settlement) & Start of liquidity transfers between TARGET2 and TIPS\n19.30\nStart of liquidity transfers between TARGET2 and TIPS\n19.30 -22.00\nExecution of additional liquidity transfers via the ICM for settlement procedure 6 real-time; execution of additional liquidity transfers via the ICM before the ancillary system sends the ‘ start of cycle ’ messages for settlement procedure 6 interfaced; settlement period of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced)\n22.00-1.00\nTechnical maintenance window\n22.00–1.00\nLiquidity transfers not possible as the SSP is closed\n1.00-7.00\nSettlement procedure of night-time ancillary system operations (only for ancillary system settlement procedure 6 real-time and settlement procedure 6 interfaced)\nLiquidity transfers between TARGET2 and TIPS\n7.\nUp-to-date information on the operational status of the SSP and the TIPS Platform shall be available on the TARGET2 Information System (T2IS) and on the TIPS Information System on dedicated webpages on the ECB's website. The information on the operational status of the SSP and the TIPS Platform on T2IS and the ECB's website shall only be updated during normal business hours.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Inserted 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": "footnote",
      "label": "f1",
      "text": "CET takes into account the change to Central European Summer Time."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "‘ Daytime operations ’ means daytime processing and end-of-day processing."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Liquidity transfers entered into the system before the cut-off time will be processed."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Ends 15 minutes later on the last day of the Eurosystem reserve maintenance period."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Starts 15 minutes later on the last day of the Eurosystem reserve maintenance period."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "Over a weekend or on a holiday, the technical maintenance window will last throughout the weekend or the holiday, i.e., from 22.00 on Friday until 1.00 on Monday or, in the case of a holiday, from 22.00 on the last business day until 1.00 on the next business day."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2007/7/annex/III/appendix/III",
    "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."
}