treasury departments of central or regional governments of Member States active in the money markets;
public sector bodies of Member States authorised to hold accounts for customers;
investment firms established in the EEA;
organisations providing clearing or settlement services, that are established in the EEA and are subject to supervision by a competent authority;
credit institutions or any of the entities listed under the above points, that are established in a country with which the European Community has entered into a monetary agreement allowing access by any such entities to payment systems in the European Union, subject to the conditions set out in the monetary agreement and provided that the legal regime applying in the country is equivalent to the relevant EU legislation.
In order to qualify as a T2-BF Participant, candidates must meet the following criteria:
The PM (Payment Module) is the payment system for the single shared platform via which TARGET2 all participant transactions are settled.
There is no upper or lower limit on the number of transactions that can be executed via the system.
Banks can also maintain cash and minimum reserve accounts in T2-BF (HAM accounts). Legally speaking, holders of HAM accounts are not considered TARGET2 participants. HAM accounts can only be used to carry out the transactions indicated in the table below.
Type of transaction | PM account | HAM account | |
---|---|---|---|
| - Tenders | X | |
- Standing facilities transactions | X | X | |
- Minimum reserves | X | X | |
Interbank transfers | X | X | |
Liquidity transfers | X | X | |
Customer transfers | X | ||
Settlement of ancillary systems | X | ||
Cash transactions | X | X | |
Management of groups of accounts (CAI and AL) | X | ||
Billing | X | X |
For further details, contact the Interbank Settlements Division (SERI) at seri@banque-france.fr or t2bf-admin@banque-france.fr
Updated on: 06/12/2018 10:33