On 5 November 2019, there was published in the Official Journal of the EU (OJ):

  • Decision (EU) 2019/1848 of the European Central Bank (ECB) of 29 October 2019 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2019/32) (the Decision). The Decision is amended to reflect the changes made on 4 October 2019 by the Governing Council to Guideline ECB/2012/27 in order to clarify, among other things, the conditions under which investment firms may participate in TARGET2, including the requirement for a legal opinion regarding investment firms established outside the EEA and applying for direct participation in a TARGET2 component system; and
  • Guideline (EU) 2019/1849 of the ECB of 4 October 2019 amending Guideline ECB/2012/27 on TARGET2 (ECB/2019/30) (the Guideline).

The Decision entered into force on 6 November 2019 and will apply from 17 November 2019. The Guideline takes effect on the day of its notification to the national central banks of member states whose currency is the euro. These national central banks must comply with the Guideline from 17 November 2019.