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Document 32004O0004
Guideline of the European Central Bank of 21 April 2004 amending Guideline ECB/2001/3 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2004/4)
Guideline of the European Central Bank of 21 April 2004 amending Guideline ECB/2001/3 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2004/4)
Guideline of the European Central Bank of 21 April 2004 amending Guideline ECB/2001/3 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2004/4)
OJ L 205, 9.6.2004, p. 1–3
(ES, CS, DA, DE, ET, EL, EN, FR, IT, LV, LT, HU, MT, NL, PL, PT, SK, SL, FI, SV)
No longer in force, Date of end of validity: 15/03/2006
9.6.2004 |
EN |
Official Journal of the European Union |
L 205/1 |
GUIDELINE OF THE EUROPEAN CENTRAL BANK
of 21 April 2004
amending Guideline ECB/2001/3 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET)
(ECB/2004/4)
(2004/501/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Treaty establishing the European Community, and in particular Article 105(2) thereof,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular to Article 3.1, Article 12.1, Article 14.3 and Articles 17, 18 and 22 thereof,
Whereas:
(1) |
The fourth indent of Article 105(2) of the Treaty and the fourth indent of Article 3.1 of the Statute empower the European Central Bank (ECB) and the national central banks (NCBs) to promote the smooth operation of payment systems. |
(2) |
In accordance with Article 22 of the Statute, the ECB and the NCBs may provide facilities to ensure efficient and sound clearing and payment systems within the Community and with other countries. |
(3) |
Guideline ECB/2001/3 of 26 April 2001 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (1) should be amended to reflect the following: first, the Governing Council’s decision of 24 October 2002 that the NCBs of the ten countries acceding to the European Union on 1 May 2004 should have the right to connect to TARGET without being obliged to do so; second, changes regarding fees payable in connection with the TARGET Compensation Scheme. |
(4) |
In accordance with Article 12.1 and Article 14.3 of the Statute, ECB guidelines form an integral part of Community law, |
HAS ADOPTED THIS GUIDELINE:
Article 1
Amending provisions
Guideline ECB/2001/3 is amended as follows:
1. |
Article 2 is amended as follows: the first sentence of paragraph 2 is replaced by the following: ‘The RTGS systems of Member States that have not adopted the euro are allowed connection to TARGET in so far as such RTGS systems comply with the minimum common features set out in Article 3 and are able to process the euro as a foreign currency alongside their respective national currency.’ ; |
2. |
with effect from 1 August 2004, Article 8 is amended as follows:
|
3. |
Annex I is replaced by the text in the Annex to this Guideline. |
Article 2
Entry into force
This Guideline shall enter into force on 1 May 2004.
Article 3
Addressees
This Guideline is addressed to the national central banks of participating Member States.
Done at Frankfurt am Main, 21 April 2004.
For the Governing Council of the ECB
The President of the ECB
Jean-Claude TRICHET
(1) OJ L 140, 24.5.2001, p. 72. Guideline as last amended by Guideline ECB/2003/6 (OJ L 113, 7.5.2003, p. 10).