Regulatory Alerts2024-11-25
Decision No. 2024-06 of 18 November 2024 amending Decision No. 2022-05 of 6 July 2022 on harmonised conditions for participation in TARGET
The Governor of the Bank of France issued Decision No. 2024-06 to amend the harmonised conditions for participation in the TARGET system, specifically updating rules on account remuneration, compensation for technical failures, and fee structures. The amendment aligns account interest rates with ECB Decision (EU) 2024/1209 and revises the calculation of compensatory interest for failed transactions based on EURSTR or marginal lending rates. It also introduces new monthly fees for TIPS accounts and volume-based charges for Settlement Entities while updating operational timelines and definitions.
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