Regulatory Alerts2022-07-06
Decision of the Governor of the Banque de France No. 2022-05 of July 6, 2022 on the harmonized conditions for participation in the new generation transeuropean automated real-time gross settlement express transfer system (TARGET)
The Governor of the Banque de France issues Decision No. 2022-05 to implement the harmonized conditions for participation in the TARGET system within France, in accordance with ECB Guideline (EU) 2022/912. The document establishes the general and specific criteria for access, application procedures, and operational rules for various account types including Main Cash Accounts (MCA) and Dedicated Cash Accounts (DCA). It further defines the rights and obligations of participants, the framework for billing and fees, and the cooperation mechanisms between the Banque de France and TARGET participants to ensure system stability and security.
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