Introductory text
United Kingdom
Decision of the European Central Bank
of 16 November 2011
establishing detailed rules and procedures for implementing the eligibility criteria for central securities depositories to access TARGET2-Securities services
(ECB/2011/20)
(2011/789/EU)
C1THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Articles 3.1 and 12.1 and Articles 17, 18 and 22 thereof,
Having regard to Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systemsf1, and in particular Article 10 thereof,
Having regard to Guideline ECB/2010/2 of 21 April 2010 on TARGET2-Securitiesf2, and in particular Article 4(2)(d) and Article 15 thereof,
Having regard to Decision ECB/2009/6 of 19 March 2009 on the establishment of the TARGET2-Securities Programme Boardf3,
Whereas:
(1)
Article 15 of Guideline ECB/2010/2 lays down the eligibility criteria for a Central Security Depository (CSD) to access TARGET2-Securities (T2S) services.
(2)
It is necessary to establish the application procedure for a CSD to access T2S services and the procedure for a CSD to request derogation from CSD access criterion 5,
HAS ADOPTED THIS DECISION:
Annotations
Modifications
- C1
Decision: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 3; S.I. 2023/779, reg. 2(d)