Decision (EU) 2026/1538 of the European Central Bank of 23 June 2026 delegating the decision-making powers in matters related to agreements with customers of TARGET-ECB (ECB/2026/13)
Delegation and sub-delegation of decision-making powers
1. The Executive Board hereby delegates to the member of the Executive Board responsible for market infrastructure and payments the decision-making powers to approve the termination of, and amendments to, agreements with customers of the TARGET-ECB component system (TARGET-ECB) on behalf of the ECB, in accordance with Article 2.
2. The Executive Board hereby authorises the member of the Executive Board responsible for market infrastructure and payments to sub-delegate the decision-making powers referred to in paragraph 1 to the Director-General, or in their absence the Deputy Director-General, Market Infrastructure and Payments.
Criteria for decisions related to TARGET-ECB customer agreements
1. The delegation and sub-delegation of decision-making powers to approve the amendment of agreements with customers of TARGET-ECB shall be limited to amendments thereto that meet any of the following criteria:
(a)
they are in line with the provisions of Decision (EU) 2022/911 (ECB/2022/22);
(b)
they are of a purely technical nature, including updates to the operational manual, and they do not have a negative financial impact for the ECB.
2. The delegation and sub-delegation of decision-making powers to approve the termination of agreements with customers of TARGET-ECB shall be limited to terminations effected pursuant to Article 24(1) of Annex I to Decision (EU) 2022/911 (ECB/2022/22).
Reporting obligation
The persons to whom the decision-making powers referred to in Article 1 have been delegated or sub-delegated shall inform the Executive Board annually of the decisions taken upon delegation or sub-delegation under this Decision.
Entry into force
This Decision shall enter into force on 31 July 2026.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
