EN Official Journal of the European Union L 274/38

DECISION OF THE EUROPEAN CENTRAL BANK

of 6 October 2009

amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB

(ECB/2009/22)

(2009/768/EC)

THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty establishing the European Community, and in particular to the first and fourth indents of Article 105(2) thereof,

Having 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, 22 and 23 thereof,

Whereas:

(1) The European Central Bank (ECB) participates in TARGET2 in order to process its own payments and the payments of its customers in TARGET2, and to supply through TARGET2 settlement services to clearing and settlement organisations, including entities established outside the European Economic Area (EEA), provided that they are subject to oversight by a competent authority and their access to TARGET2-ECB has been approved by the Governing Council.

(2) The Executive Board of the ECB adopted Decision ECB/2007/7 of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (1).

(3) Amendments should be made to Decision ECB/2007/7: (a) in view of the new release of the Single Shared Platform; (b) to clarify the specific oversight location principles that entities offering services in euro are required to comply with; (c) to reflect a number of other technical and editorial improvements and clarifications; and (d) to delete provisions relating to migration to TARGET2 which no longer apply,

HAS DECIDED AS FOLLOWS:

Article 1

Article 1(1)(c) of Decision ECB/2007/7 is replaced by the following:

‘(c) supply settlement services to entities managing ancillary systems, including entities established outside the EEA, provided that they are subject to oversight by a competent authority, they comply with the oversight requirements for the location of infrastructures offering services in euro, as amended from time to time and published on the ECB website (2), and their access to TARGET2-ECB has been approved by the Governing Council.

Article 2

The Annex to Decision ECB/2007/7 is amended in accordance with the Annex to this Decision.

Article 3

Entry into force

1. Article 1 of this Decision and paragraphs 1(a) and 2 of the Annex to this Decision shall enter into force on 23 October 2009.

2. The other provisions of this Decision shall enter into force on 23 November 2009.

Done at Frankfurt am Main, 6 October 2009. The President of the ECB Jean-Claude TRICHET

(1) OJ L 237, 8.9.2007, p. 71.

(2) The Eurosystem's current policy for the location of infrastructure is set out in the following statements, which are all available on the ECB website at www.ecb.europa.eu: (a) the “Policy statement on euro payment and settlement systems located outside the euro area” of 3 November 1998; (b) “The Eurosystem's policy line with regard to consolidation in central counterparty clearing” of 27 September 2001; (c) “The Eurosystem policy principles on the location and operation of infrastructures settling in euro-denominated payment transactions” of 19 July 2007; and (d) “The Eurosystem policy principles on the location and operation of infrastructures settling euro-denominated payment transactions: specification of “legally and operationally located in the euro area” ” of 20 November 2008.’