TARGET has been legally constructed as a multiple jurisdictional system with the highest degree of harmonisation of the legal documentation used by the central banks within the constraints of their respective national legal frameworks. The ECB's Governing Council has decided to use this legal structure.
Please find DNB's legal documentation on TARGET-NL below. For more information about the legal basis, see the ECB's website(Refers to an external site)
The Condition Target-NL are based on Guideline (EU) 2022/912 of the European Central Bank of 24 February 2022 on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET)
Published on European Central Bank - EUR-Lex (europa.eu)
TARGET-NL has been designated as Paymentsystem under the Finality Guideline. Cash transfers are settled irrevocably.
TARGET provides the following accounts for settlement in euro in central bank money,
(a) Main cash accounts (MCAs) for the settlement of operations with central banks;
(b) Real-time gross settlement dedicated cash accounts (RTGS DCAs) and sub-accounts for real-time interbank and customer payments, and settlement of transactions with ancillary systems (AS);
(c) Real-time gross settlement ancillary system technical accounts (RTGS AS technical accounts), TARGET Instant Payment Settlement (TIPS) ancillary system technical accounts (TIPS AS technical accounts) and ancillary systems guarantee funds accounts (AS guarantee funds accounts) for the settlement of transactions with AS;
(d) TARGET2-Securities dedicated cash accounts (T2S DCAs) for cash payments in relation to securities transactions; and
(e) TARGET instant payment settlement dedicated cash accounts (TIPS DCAs) for the settlement of instant payments
Institutions who fulfil the access criteria and would like to open certain accounts need to take the below actions:
Send a duly signed letter to the:
Head of Department
Payments & Collateral Services
De Nederlandsche Bank N.V.
P.O. Box 98
1000 AB Amsterdam
- Sign the acknowledgement of the Target-NL Conditions
- Sign the acknowledgement of the General Terms and Conditions of De Nederlandsche Bank N.V.
- Sign the acknowledgement of the Manual for Monetary Policy Transactions
- Sign the Credit Agreement (Conditional in case of credit provision
Contact via de DNB Target Services National Service Desk:
- E: firstname.lastname@example.org
- T: +3120 524 3564