Scope
Article 1
1. The ECB’s TARGET component system (TARGET-ECB) is limited to the following operations: (a) processing the ECB's own payments; (b) processing payments of ECB customers; (c) providing settlement services to entities managing ancillary systems, including entities established outside the European Economic Area, provided that those entities: (i) are subject to oversight by a competent authority; (ii) comply with the oversight requirements for the location of infrastructures offering services in euro, as published on the ECB's website; (iii) have been granted access to TARGET-ECB by the Governing Council. 2. The ECB may only accept the following customers and may act on their behalf: (a) central banks; (b) European organisations; (c) international organisations; (d) central governments of Member States or public entities designated by such central governments, pursuant to an ad-hoc decision of the Governing Council.