Regulatory Alerts2025-10-06
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Decision No. 2025-03 of 6 October 2025 amending Decision No. 2022-05 of 6 July 2022 on harmonised conditions for participation in the new generation transeuropean automated real-time gross settlement express transfer system (TARGET)
The Governor of the Bank of France issued Decision No. 2025-03 to amend the harmonised conditions for participation in the TARGET system, specifically expanding eligibility to include non-bank payment service providers and investment firms. The decision introduces strict maximum holding limits for these new participants, mandating daily reporting and imposing financial penalties for non-compliance with balance caps. Additionally, it updates the framework for intraday credit facilities, defining eligible collateral, automatic access mechanisms for central counterparties, and suspension procedures for credit lines.
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