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Article 1 Amendments

United Kingdom

Original text. Later amendments are not shown.

1.

The following Article 3a is added:

‘Remuneration of Guarantee Funds

Article 3a
1.

“Guarantee Funds” means funds provided by an ancillary system's participants, to be used in the event of the failure, for whatever reason, of one or more participants to meet their payment obligations in the ancillary system.

2.

Guarantee Funds shall be remunerated at the deposit facility rate.’.

2.

Annexes I and II to Decision ECB/2007/7 are amended in accordance with the Annex to this Decision.