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Terms and conditions for the opening and operation of a PM account in TARGET2-Bundesbank

TARGET2-BBk

From a legal perspective, TARGET2 consists of a number of TARGET2 component systems. Based on the Eurosystem's new approach, and in an attempt to standardise the legal requirements for the opening and operation of a PM account in TARGET2 as far as possible, the terms and conditions of TARGET2-BBk are, however, a literal copy of the "Harmonised Conditions for the opening and operation of a PM account in TARGET2", which were adopted within the framework of the TARGET2 Guideline.

The Bundesbank simply made the necessary editorial changes (such as inserting the terms "Bundesbank" and "TARGET2-Bundesbank", for example) and deleted a minimal amount of provisions which were not relevant to TARGET2-Bundesbank.