2011/749/: Decision of the European Central Bank of 15 November 2011 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2011/19)

22.11.2011 EN Official Journal of the European Union L 303/44
DECISION OF THE EUROPEAN CENTRAL BANK
of 15 November 2011
amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB
(ECB/2011/19)
(2011/749/EU)
THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK
,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(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,
Having regard to Guideline ECB/2007/2 of 26 April 2007 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (1), and in particular Article 6(2) thereof,
Whereas:
(1) Guideline ECB/2007/2 has been amended by Guideline ECB/2011/15 of 14 October 2011 amending Guideline ECB/2007/2 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (2), inter alia, (a) to include the ‘grounds of prudence’ among the criteria on the basis of which an application for participation in TARGET2 may be rejected, and a participant’s participation in TARGET2 or its access to intraday credit might be suspended, limited or terminated; and (b) to reflect new requirements for TARGET2 participants related to the administrative and restrictive measures introduced pursuant to Articles 75 and 215 of the Treaty.
(2) Therefore, it is necessary to amend the Annex to Decision ECB/2007/7 of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (3) to incorporate certain elements from Guideline ECB/2011/15 into the terms and conditions of TARGET2-ECB,