Decision (EU) 2026/1754 of the European Central Bank of 7 July 2026 amending Decision (EU) 2022/911 concerning the terms and conditions of TARGET-ECB and repealing Decision ECB/2007/7 (ECB/2022/22) (ECB/2026/16)
Data as of 2026-07-30 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Amendments
The Annexes to Decision (EU) 2022/911 (ECB/2022/22) are amended as follows: (1) Annex I is amended in accordance with Annex I to this Decision; (2) Annex III is amended in accordance with Annex II to this Decision; (3) Annex I is amended with effect from 14 November 2026 in accordance with Annex III to this Decision; (4) Annex III is amended with effect from 14 November 2026 in accordance with Annex IV to this Decision.
Entry into force
This Decision shall enter into force on the fifth day following that of its publication in the Official Journal of the European Union .
ANNEX I Annex I to Decision (EU) 2022/911 (ECB/2022/22) is amended as follows: (1) Part I is amended as follows: (a) Article 14(2), is replaced by the following: ‘2. The participant may choose to receive a notification if the floor or ceiling amount is breached. In addition, for MCAs, RTGS DCAs or TIPS DCAs the participant may opt for the breach to trigger a rule-based liquidity transfer order.’ ; (b) Article 26(2) is replaced by the following: ‘2. On the occurrence of either of the events set out in point (a) or (b), all obligations of the participant shall be automatically and immediately accelerated, without prior notice and without the need for any prior approval of any authority, so as to be immediately due. (a) An event of default referred to in Article 24(1). (b) Any other event of default or event referred to in Article 24(2) that has led to the termination or suspension of the participant’s participation, notwithstanding the commencement of any insolvency proceedings in respect of a participant and notwithstanding any assignment, judicial or other attachment or other disposition of or in respect of the participant’s rights. In addition, the mutual obligations of the participant and the ECB shall automatically be set off against each other, and the party owing the higher amount shall pay to the other the difference.’ ; (2) in Part II, Article 6(4) is replaced by the following: ‘4. An MCA holder may authorise its MCA to be debited in the event that a floor is breached in one or more specified RTGS DCAs, TIPS DCAs or MCAs within the same liquidity transfer group in TARGET-ECB or another TARGET component system. By authorising its account to be debited, the MCA holder instructs the ECB to execute a rule-based liquidity transfer order that credits the RTGS DCA(s), TIPS DCA(s) or MCA(s) whenever the floor is breached.’ ; (3) in Part V, the following Article 7a is inserted: ‘Article 7a Rule-based liquidity transfer orders 1. A TIPS DCA holder may specify a floor and/or a ceiling amount for its TIPS DCA. 2. By setting a ceiling and opting for a rule-based liquidity transfer order, if, following the settlement of an instant payment order, a positive recall answer or a liquidity transfer order, the ceiling is breached, the TIPS DCA holder instructs the ECB to execute a rule-based liquidity transfer order that credits an MCA designated by that TIPS DCA holder. The credited MCA may belong to another participant in TARGET-[insert CB/country reference] or in another TARGET component system. 3. By setting a floor and opting for a rule-based liquidity transfer order, if, following the settlement of an instant payment order, a positive recall answer or a liquidity transfer order, the floor is breached, a rule-based liquidity transfer order is initiated that debits an MCA authorised by the MCA holder. The debited MCA may belong to another participant in TARGET-[insert CB/country reference] or in another TARGET component system. The holder of the debited MCA must authorise its MCA to be debited in this manner.’ ; (4) in Part VII, Article 12(1) is replaced by the following: ‘1. TIPS AS technical account holders may use the broadcast message function offered by TIPS, which allows a TIPS DCA holder or a TIPS AS technical account holder to send a message to all other TIPS DCA holders and TIPS AS technical account holders, to send broadcast messages in the following categories: (a) “Immediate downtime start”; (b) “Immediate downtime end”; (c) “Planned downtime”.’ ; (5) Appendix VI is amended as follows: (a) in Section 3, paragraph 1, the introductory wording is replaced by the following: ‘1. Until 30 June 2026, RTGS DCA holders shall choose one of the following two pricing options:’; (b) in Section 3, the following paragraph 1a is inserted: ‘1a. From 1 July 2026, RTGS DCA holders shall choose one of the following two pricing options: (a) a monthly fee, plus a fixed transaction fee per payment order (debit entry). Monthly fee EUR 400 Transaction fee per payment order EUR 0,80 (b) a monthly fee, plus a transaction fee based on the volume of payment orders (debit entry) and calculated on a cumulative basis as set out in the following table. For participants in a billing group, the monthly volume of payment orders (debit entry) for all participants in that group shall be aggregated. Monthly fee EUR 5 000 Monthly volume of payment orders Band From To Transaction fee per payment order (EUR) 1. 1 10 000 0,60 2. 10 001 35 000 0,50 3. 35 001 80 000 0,40 4. 80 001 135 000 0,20 5. 135 001 200 000 0,125 6. 200 001 300 000 0,08 7. Above 300 000 0,05’
ANNEX II In Annex III to Decision (EU) 2022/911 (ECB/2022/22), ‘DEFINITIONS’, point (55) is replaced by the following: ‘(55) “ rule-based liquidity transfer order ” means a liquidity transfer order that is triggered as a result of: (a) the balance on an MCA, or RTGS DCA or TIPS DCA breaching a pre-defined floor or ceiling; or (b) insufficient funds being available to cover queued urgent payment orders, AS transfer orders or high priority payment orders on an RTGS DCA;’.
ANNEX III Annex I to Decision (EU) 2022/911 (ECB/2022/22) is amended as follows: (1) Part I is amended as follows: (a) in Article 5(1), point (f) is replaced by the following: ‘(f) if it is an applicant for a TIPS DCA, it has adhered to the SCT Inst scheme by signing the SEPA Instant Credit Transfer Adherence Agreement and, if relevant, it has adhered to the One-Leg Out Instant Credit Transfer (OCTs Inst) scheme by signing the One-Leg Out Instant Credit Transfer Adherence Agreement;’; (b) in Article 5(1), point (g) is replaced by the following: ‘(g) if it is an applicant for a TIPS AS technical account, it has provided evidence that the disclosure letter showing their intent to be an SCT Inst compliant Clearing and Settlement Mechanism (CSM) and, if relevant, to be an OCTs Inst compliant CSM, has been provided to the European Payments Council (EPC);’; (c) in Article 5(2), point (c) is replaced by the following: ‘(c) if it is an applicant for a TIPS DCA, evidence of their adherence to the SCT Inst scheme by signing the SEPA Instant Credit Transfer Adherence Agreement and, if relevant, that it has adhered to the OCTs Inst scheme by signing the One-Leg Out Instant Credit Transfer Adherence Agreement;’; (d) in Article 5(2), point (d) is replaced by the following: ‘(d) if the applicant is applying to use the TIPS AS settlement procedure, evidence that it has provided the EPC with the disclosure letter showing their intent to be an SCT Inst compliant CSM and, if relevant, an OCTs Inst compliant CSM;’; (e) in Article 17(1), point (b) is replaced by the following: ‘(b) instant payment orders shall be deemed entered into TARGET-ECB and irrevocable at the moment that the relevant funds on the TIPS DCA of the participant or on its TIPS AS technical account are reserved;’; (2) Part V is amended as follows: (a) in Article 1, paragraph 3 is replaced by the following: ‘3. The TIPS DCA holder shall inform the ECB prior to exercising its option to accept instant payment orders according to the OCTs Inst scheme.’ ; (b) in Article 3, paragraphs 1, 2 and 3 are replaced by the following: ‘1. A TIPS DCA holder may designate one or more reachable parties and shall inform the ECB if any of these reachable parties accept instant payment orders according to the OCTs Inst scheme. Reachable parties shall have adhered to the SCT Inst scheme by signing the SEPA Instant Credit Transfer Adherence Agreement, and, if relevant, the OCTs Inst Scheme by signing the One-Leg Out Instant Credit Transfer Adherence Agreement.’ 2. A TIPS DCA holder shall provide evidence to the ECB of each designated reachable party’s adherence to the SCT Inst scheme and, if relevant, the OCTs Inst scheme. 3. A TIPS DCA holder shall inform the ECB if any designated reachable party no longer adheres to the SCT Inst scheme and/or, if relevant, the OCTs Inst scheme and shall, without undue delay, take steps to prevent the reachable party from accessing the TIPS DCA.’ ; (c) in Article 4(1), point (aa) is deleted; (d) in Article 6, paragraph 3 is replaced by the following: ‘3. After an instant payment order has been accepted as set out in Part I, Article 16, TARGET-ECB shall check if sufficient funds are available on the payer’s TIPS DCA to effect settlement and the following shall apply: (a) if sufficient funds are not available, the instant payment order shall be rejected; (b) if sufficient funds are available, the corresponding amount shall be reserved while awaiting the payee’s response. In the event of acceptance by the payee of an instant payment order, the order shall be settled and the reservation shall be simultaneously lifted. In the event of rejection by the payee of an instant payment order, or the absence of a timely response, within the meaning of the SCT Inst scheme or the OCTs Inst scheme, the instant payment order shall be rejected and the reservation shall be simultaneously lifted.’ ; (e) in Article 6, paragraph 5 is replaced by the following: ‘5. Without prejudice to paragraph 3, point (b), the ECB shall reject an instant payment order if the amount of the instant payment order exceeds any applicable credit memorandum balance (CMB).’ ; (f) in Article 8, paragraph 1 is replaced by the following: ‘1. The TIPS directory is a list of BICs used for the purpose of routing information and comprises the BICs of: (a) TIPS DCA holders; (b) reachable parties. The TIPS directory shall include information for each BIC as to whether the TIPS DCA holder or reachable party accepts instant payment orders according to the OCTs Inst scheme.’ ; (g) in Article 10, paragraph 4 is replaced by the following: ‘4. The ECB shall process instant payment orders of a TIPS DCA holder whose participation in TARGET-ECB has been suspended or terminated under Part I, Article 24(1) or (2) and in relation to which the ECB has reserved funds on a TIPS DCA pursuant to Part V, Article 6(3), point (b), prior to the suspension or termination.’ ; (3) Part VII is amended as follows: (a) in Article 1, paragraph 1 is replaced by the following: ‘1. The ECB may on the request of an AS that settles instant payments pursuant to the SCT Inst scheme, and, if relevant, the OCTs Inst scheme and, if relevant, near instant payments in its own books, open and operate one or more TIPS AS technical accounts. If the TIPS AS technical account holder exercises its option to accept instant payment orders according to the OCTs Inst scheme, it shall inform the ECB accordingly.’ ; (b) in Article 1, paragraphs 5 and 6 are replaced by the following: ‘5. An ancillary system may send instant payment orders and positive recall answers to any TIPS DCA holder or TIPS AS technical account holder, and it may send instant payment orders according to the OCTs Inst scheme to any TIPS DCA holder or TIPS AS technical account holder which has opted to receive them. 6. An ancillary system shall receive and process instant payment orders, recall requests and positive recall answers from any TIPS DCA holder or TIPS AS technical account holder. If it has informed the ECB of the exercise of its option in accordance with paragraph 1, it shall accept instant payment orders according to the OCTs Inst scheme from any TIPS DCA holder or TIPS AS technical account holder which has opted to send them.’ ; (c) in Article 4, paragraph 3 is replaced by the following: ‘3. After an instant payment order has been accepted as set out in Part I, Article 16(1), the ECB shall check if sufficient funds are available on the payer’s TIPS AS technical account to effect settlement and the following shall apply: (a) if sufficient funds are not available, the instant payment order shall be rejected; (b) if sufficient funds are available, the corresponding amount shall be reserved while awaiting the payee’s response. In the event of acceptance by the payee of an instant payment order, the order shall be settled and the reservation shall be simultaneously lifted. In the event of rejection by the payee of an instant payment order, or the absence of a timely response, within the meaning of the SCT Inst scheme or the OCTs Inst scheme, the instant payment order shall be rejected and the reservation shall be simultaneously lifted.’ ; (d) in Article 4, paragraph 5 is replaced by the following: ‘5. Without prejudice to paragraph 3(b), the ECB shall reject an instant payment order if the amount of the instant payment order exceeds any applicable credit memorandum balance (CMB).’ ; (e) in Article 5, paragraph 2 is replaced by the following: ‘2. The recall request shall be forwarded to the payee of the settled instant payment order which may answer with a positive or negative recall answer.’ ; (f) in Article 7, paragraph 1 is replaced by the following: ‘1. A TIPS AS technical account holder may designate one or more reachable parties. Reachable parties shall have adhered to the SCT Inst scheme signing the SEPA Instant Credit Transfer Adherence Agreement and, if relevant, to the OCTs Inst scheme signing the One-Leg Out Instant Credit Transfer Adherence Agreement, and, if they are addressable in TARGET as RTGS DCA holders, addressable BIC holders or as entities referred to in Part III, Article 3(1), point (a) of Guideline (EU) 2022/912 (ECB/2022/8), having been authorised to use an RTGS DCA by way of multi-addressee access, they shall hold a TIPS DCA or be reachable via a TIPS DCA.’ ; (g) in Article 7, paragraph 2 is replaced by the following: ‘2. A TIPS AS technical account holder shall provide evidence to the ECB of each designated reachable party’s adherence to the SCT Inst scheme and, if relevant, the OCTs Inst scheme.’ ; (h) in Article 7, the following paragraph 3a is inserted: ‘3a. A TIPS AS technical account holder shall inform the ECB if any designated reachable party no longer adheres to the OCTs Inst scheme.’ ; (i) in Article 8(1), point (d) is deleted; (j) in Article 9, paragraph 1 is replaced by the following: ‘1. The TIPS directory is a list of BICs used for the purpose of routing information and comprises the BICS of: (a) TIPS DCA holders; (b) reachable parties. The TIPS directory shall include information for each BIC as to whether the TIPS DCA holder or reachable party accepts instant payment orders according to the OCTs Inst scheme.’ ; (k) in Article 11, paragraph 4 is replaced by the following: ‘4. The ECB shall process instant payment orders of a TIPS AS technical account holder whose participation in TARGET-ECB has been suspended or terminated under Part I, Article 24(1) or (2) and in relation to which the ECB has reserved funds on a TIPS AS technical account pursuant to Part VII, Article 4(3), point (b), prior to the suspension or termination.’ ; (4) Appendix I is amended as follows: (a) in Section 4, paragraph (d), the table is replaced by the following: ‘Message Type Description Payments Clearing andSettlement (pacs) pacs.002 FIToFIPayment Status Report pacs.004 PaymentReturn pacs.008 FIToFICustomerCreditTransfer pacs.028 FIToFIPaymentStatusRequest Cash Management (camt) camt.003 GetAccount camt.004 ReturnAccount camt.011 ModifyLimit camt.019 ReturnBusinessDayInformation camt.025 Receipt camt.027 ClaimNonReceipt camt.029 ResolutionOfInvestigation camt.050 LiquidityCreditTransfer camt.052 BankToCustomerAccountReport camt.053 BankToCustomerStatement camt.054 BankToCustomerDebitCreditNotification camt.056 FIToFIPaymentCancellationRequest acmt.010 AccountRequestAcknowledgement acmt.011 AccountRequestRejection acmt.015 AccountExcludedMandateMaintenanceRequest admi.004 SystemEventNotification Reference data (reda) reda.016 PartyStatusAdviceV01 reda.022 PartyModificationRequestV01’ (b) in Section 4, paragraph (e) is replaced by the following: ‘(e) The following additional message subtypes are used for instant payment orders according to the OCTs Inst scheme: Message Type Description pacs.002.001.03 FIToFIPayment Status Report pacs.008.001.08 FIToFICustomerCreditTransfer pacs.028.001.03 FIToFIPaymentStatusRequest Messages related to instant payment orders according to the OCTs Inst scheme will be identified with the suffix XCY in the message exchange protocol.’; (c) in Section 6, the final unnumbered paragraph is replaced by the following: ‘If an instant payment order or a positive recall answer is rejected for any reason, the TIPS DCA holder shall receive a payment status report (pacs.002), as described in Chapter 4.2 of the TIPS UDFS. If a liquidity transfer order is rejected for any reason, the TIPS DCA holder shall receive a rejection (camt.025), as described in Chapter 1.6 of the TIPS UDFS.’; (5) Appendix VI is amended as follows: (a) in Section 6, point (c) is replaced by the following: ‘(c) For each instant payment order or positive recall answer accepted by the ECB as set out in Part I, Article 16, a fee of EUR 0,001 shall be charged to both the holder of the TIPS DCA to be debited and to the holder of the TIPS DCA or TIPS AS technical account to be credited, whether or not the instant payment order or positive recall answer settles;’; (b) in Section 7, paragraph 2(c) is replaced by the following: ‘(c) For each instant payment order or positive recall answer accepted by the ECB as set out in Part I, Article 16, a fee of EUR 0,001 shall be charged to both the holder of the TIPS AS technical account to be debited and to the holder of the TIPS AS technical account or TIPS DCA to be credited, whether or not the instant payment order or positive recall answer settles;’.
ANNEX IV Annex III to Decision (EU) 2022/911 (ECB/2022/22) is amended as follows: (1) the following point (28a) is added: ‘(28a) “ European Payments Council’s SEPA One-Leg Out Instant Credit Transfer (OCTs Inst) scheme ” or “ OCTs Inst scheme ” means an open standards scheme providing a set of interbank rules, standards and practices to be complied with by OCTs Inst scheme participants, allowing payment services providers in the Single Euro Payments Area (SEPA) to achieve interoperability for the provision and operation of the Euro leg of an international instant credit transfer;’; (2) point (33) is replaced by the following: ‘(33) “ instant payment order ” means, in line with the European Payments Council’s SEPA Instant Credit Transfer (SCT Inst) scheme or One-Leg Out Instant Credit Transfer (OCTs Inst) scheme, a cash transfer order which can be executed 24 hours a day any calendar day of the year, with immediate or close to immediate settlement and notification to the payer, and which includes: (i) TIPS DCA to TIPS DCA instant payment orders; (ii) TIPS DCA to TIPS AS technical account instant payment orders; (iii) TIPS AS technical account to TIPS DCA instant payment orders; and (iv) TIPS AS technical account to TIPS AS technical account instant payment orders;’; (3) point (42) is replaced by the following: ‘(42) “ near instant payment ” means a transfer of cash order which complies with the NL Standard for instant processing of SEPA credit transfers, or with the European Payment Council’s SEPA One-Leg Out Instant Credit Transfer (OCTs Inst) Scheme;’.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.