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

Example form 4000

HAM Account Holder DNB Mandatory forms for all HAM Account Holders 5000 Main form 5100 Registration HAM 5015 Contact Items Mandatory forms for HAM Account Holders with Reserve Requirements 5200 Registration SF 5300 Registration RM Optional 1102 Co-management

Example form 5000

Sector codes S Dutch Offices S Foreign Offices S.1311 Government S.1314 SVB NOT FOR NON-LIVE BIC’S -HAMANL21-

Example form 5100 NOT FOR NON –LIVE BIC’S

Example form 5100

Example Form 1000 Direct Participant

Example form 5015

Example form 1102

Example form 5200

Example form 5300

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

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

CB Customer DNB Mandatory forms for all CB Customer DNB 6000 Main form 6100 Registration HAM

Example form 6000

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

Example form 6100

Processing forms Filled in via Acrobat Printed (if possible 2-sided) Signed according to the ‘handtekeningkaart DNB’ Sent 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 sent a request for exchange via MT 999 to SSP (incl: name contact person, phone, etc.) SSP checks request and insert also pre-agreement SSP sent out MT960 Participant sent also MT960

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