# Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC), Article 15: Opening and management of TIPS DCAs

Extent: E+W+S+N.I.

1. The ECB shall open and operate at least one TIPS DCA for each TIPS DCA holder. A TIPS 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
‘ I ’ for instant payment 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
Part C
Sub-classification of the account
Up to 17 char.
Free text (alphanumeric) to be provided by the TIPS DCA holder
2. No debit balance shall be allowed on TIPS DCAs.
3. For the purpose of remuneration of overnight balances the TIPS DCA holder shall link its TIPS DCA with a PM account which it holds with ECB.
4. TIPS DCAs shall either be remunerated at 0 % or the deposit facility rate, whichever is lower.

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Source: https://www.legislation.gov.uk/eudn/2007/7/annex/III/article/15 (the official version)
Page: https://openlegislation.uk/eu-decision-2007-7/annex-III/article-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.