Terms and Conditions for participation in TARGET-ECB
Article 3
1. Participation in TARGET-ECB shall be exclusively governed by the Conditions for participation in TARGET-ECB set out in Annex I. 2. In accordance with Article 9(2) of Guideline (EU) 2022/912 (ECB/2022/8), from 20 November 2023, the ECB shall not open accounts other than TARGET accounts for eligible participants to provide services falling within the scope of Guideline (EU) 2022/912 (ECB/2022/8), with the exception of accounts that are used to hold seized funds or funds pledged to a third-party creditor or funds referred to in Article 3(1)(d) of Regulation (EU) 2021/378 of the European Central Bank (ECB/2021/1) ( 6 ) . 3. Participation in TARGET-ECB shall also be governed by Article 11 of Guideline (EU) 2022/912 (ECB/2022/8), where relevant.