TARGET2 information session October, 2007 NL

TARGET2 Marcel Otten NL

Public project plan NL GFS, UDFS T2 user guide

Testing NL Internal tests (3CB) Acceptance (CBs) User testing activities (group 1) User testing activities (group 2) User testing activities (group 3)

Group 2 testing ESCB planning NL User testing activities Connectivity tests Interoperability tests (certification) Free testing Country testingBusiness day testing at institution levelat country levelat European level 19/06 17/0905/10 09/1101/02

Group 2 testing DNB planning NL User testing activities con nect Interoper tests (certification ) Free testing Country testingBusiness day testing at institution level at country level at European level 15/05 static data entry 19/06 06/07 connectivity test finished 17/0905/10 09/1101/02 15/08 interoper. test finished NL test 01/01 static data Entry in PROD 01/09-28/09 NL test scenarios 07/02 GO/NO GO 18/02 T2 LIVE

Group 2 Migration to PROD NL Registration: 31/10/07legal documents finalized 08/10/ /12/07SSP registration forms PROD submitted, activation date 18/02/08 05/11/ /12/07e-ordering SWIFT for TARGET2 submitted, activation date 02/02/08 Migration: 15/10/07End of retail payments directly to TOP accounts 18/01/08 – 01/02/08BKE with SSP, activation date 04/02/08 07/02/08GO / NO-GO 11/02/08 – 15/02/08Tests in PROD, download T2-dir, enter standing orders limits 15/02/0818:00 TOP close of day, no night-settlement 16/02/08migration of dynamic data 18/02/0807:00 opening TARGET2

4th Progress Report (June 2007) AS-pricing on system level and not legal entity level AS-pricing models 4,5,6 for half of the transactions because of double charging caused by usage of a technical account. Publication of updated version of GFS. Approval of TARGET2-guideline, which will contain the main legal elements of TARGET2 Guidance for group-recognition Information guide for TARGET2-users (describing procedures for normal and abnormal situations) to be published in October Involvement of users regarding XML-messages in case of restart after disaster.

Legal Documents Walter van Dalen NL

Current situation (TOP) Account in TOP; terms and conditions signed Signatures for approval documented on signature card Several other documents signed when applicable NL Legal Documents

Examples of other documents (generic): Credit facilities Debet facilities Liquidity agreements Authorizations (AS) NL Legal Documents

In TOP, the different contracts are defined by the local Central Bank (every country their own local rules) In TARGET2 the legal documents are (more) defined by the ECB (harmonization) This depends on the level of business (still some local authority) NL Legal Documents

NL Legal Documents ILC NCB NCB NCB NCB ILC NCB NCB NCB NCB ECB NCB NCB NCB NCB NCB NCB NCB NCB TARGETInterlinkingNetwork

NL Legal Documents

NL Legal Documents TARGET2-FR TARGET2-EI TARGET2-IT TARGET2-ES TARGET2-NL

Original idea: NL Legal Documents

Current situation: NL Legal Documents

Which documents in the new situation? –General terms and conditions –Conditions TARGET2-NL –Conditions HAM-NL –Monetary Policy Transactions Manual –Declaration of agreement with provisions of the conditions for TARGET2-NL/HAM-NL, amended General Terms and Conditions and the amended Monetary Policy Transactions Manual –Credit agreement –AL.Agreement (A and/or B) –Pledge agreement (PM account) NL Legal Documents

Procedure Basic documents will be send to participants (DRAFT version) Only documents that are applicable Not for review, but for your information to get familiar with content All official documents for sign off will follow in the next weeks Every participant receives the documents that are applicable NL Legal Documents

Timeframe October: send drafts to participants October/November: send formal documents to participants 2nd week December: signed documents back at DNB NL Legal Documents

QUESTIONS? NL Legal Documents

SSP Registration forms Relevant Information > Betalingsverkeer > Giraal betalingsverkeer > TARGET2 > Downloads Registration ProcedureBetalingsverkeerGiraal betalingsverkeerTARGET2 Downloads Registration Procedure Or > Payments > Non cash-payments > TARGET2 > Downloads Registration Procedure PaymentsNon cash-paymentsTARGET2Downloads Registration Procedure - User Guide for collection of Static Data - Registration forms

Direct Participants

Direct Participants DNB Mandatory forms for all Direct Participant 1000 Main form 1015 Contact Items 1018 Direct Debit DNB Mandatory forms for Direct Participants with Reserve Requirements 1200 Registration SF 1300 Registration RM

Direct Participants Use of form 1018_Direct_Debits Use the prefilled form 1018_Direct_Debits_DNB only for the DNB direct debits In case of other direct debits, use an additional form 1018_Direct_Debits

Example Form 1000

Sector codes S Dutch Offices S Foreign Offices S.1311 Government S.1314 SVB

Example Form 1000

Registration of Branches In case a Branch uses its own BIC for Legal Entity: Registration via form 4000 In case a Branch uses the same Legal Entity as the Direct Participant: Registration via form 1013 Addressable BIC – branch of direct paricipant

Example Form 1013

Example form 4000

Example form 5100

Example form 1102

Example form 5100

Ancillary System Equens Nederland Form 2002_AS_Mandate_Equens_Kavel Participant need to complete this form and send it to: Equens Nederland Tav M&S Support ovv Registratieformulieren TARGET2 Postbus AH UTRECHT

Ancillary System Euroclear Nederland Form 2002_AS_Mandate_Euroclear Participant need to complete this form and send it to: Euroclear Nederland Registratie TARGET2 Postbus GD AMSTERDAM

Processing forms Filled in via Acrobat Printed (if possible 2-sided) Signed according to the ‘handtekeningkaart DNB’ Send to: De Nederlandsche Bank NV Afdeling Bve, sectie Euro TARGET2 Registration Forms Postbus AB AMSTERDAM

Change of Static Data

In case of change of Static Data the participant always needs to fill in a complete form PLEASE NOTE: Changes of Static Data before the initial setup in the SSP have to be done via a form with indication ‘new’. As soon as DNB inserted the data in the SSP changes have to be done via a ‘modify’ form.

BKE exchange Time schedule: Start18/01/08 Deadline01/02/08 Activation date04/02/08 Procedure Participant insert Pre-agreement in their CBT Participant send a request for exchange via MT 999 to SSP (incl: name contact person, phone, etc.) SSP checks request and insert also pre-agreement SSP send out MT960 Participant send also MT960

BKE exchange More information UDFS Book 1, version 2.3 Chapter UDFS Book 2, version 2.3 Chapter