{
  "url": "https://openlegislation.uk/eu-decision-2018-24/introduction",
  "json_url": "https://openlegislation.uk/eu-decision-2018-24/introduction.json",
  "legislation": "eudn/2018/24",
  "legislation_title": "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)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2018-24",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Decision (EU) 2018/1625 of the European Central Bank\nof 8 October 2018\namending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2018/24)\nTHE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,\nHaving regard to the Treaty on the Functioning of the European Union, and in particular the first and fourth indents of Article 127(2) thereof,\nHaving regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 11.6 and Articles 17, 18, 22 and 23 thereof,\nWhereas:\n(1)\nOn 3 August 2018, the Governing Council amended Guideline ECB/2012/27, in order to introduce the TARGET Instant Payment Settlement (TIPS) service. The new TIPS service will enable the settlement of instant payment orders in central bank money 24 hours a day any calendar day of the year, with immediate or close to immediate processing. For the purpose of the TIPS service, dedicated cash accounts (TIPS Dedicated Cash Accounts (TIPS DCAs)) are to be created in TARGET2. As regards the technical operation of the TIPS DCAs, TARGET2 is to be technically established and to function on the basis of the TIPS Platform.\n(2)\nAt the same time, the Governing Council amended Guideline ECB/2012/27 to clarify certain other aspects of, and update, that Guideline.\n(3)\nThe amendments made to Guideline ECB/2012/27 as regards the terms and conditions of TARGET2-ECB need to be reflected in Decision ECB/2007/7, where necessary, and a few other points in the terms and conditions need to be clarified.\n(4)\nTherefore, Decision ECB/2007/7 should be amended accordingly,\nHAS ADOPTED THIS DECISION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Guideline ECB/2012/27 of 5 December 2012 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (OJ L 30, 30.1.2013, p. 1)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Guideline (EU) 2018/1626 of the European Central Bank of 3 August 2018 amending Guideline ECB/2012/27 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2018/20) (OJ L 280, 9.11.2018, p. 40)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Decision ECB/2007/7 of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (OJ L 237, 8.9.2007, p. 71)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2018/24/introduction",
    "retrieved_at": "2026-11-01T15:13:14.425845+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."
}