TARGET2 information session October, 2007

1. NL TARGET2 information session October, 2007

2. Marcel Otten TARGET2 NL

3. Public project plan NL GFS, UDFS T2 user guide

4. 2007 2008 Internal tests (3CB) Acceptance (CBs) User testing activities (group 1) User testing activities (group 2) User testing activities (group 3) Testing NL

5. Connectivity tests Interoperability tests (certification) Country testing Business day testing Free testing at institution level at country level at European level Group 2 testingESCB planning NL 19/06 09/11 01/02 17/09 05/10 User testing activities

6. connect Interoper tests (certification) Country testing Business day testing Free testing NL test at institution level at country level at European level Group 2 testingDNB planning NL 01/09-28/09 NL test scenarios 06/07 connectivity test finished 01/01 static data Entry in PROD 15/05 static data entry 07/02 GO/NO GO 15/08 interoper. test finished 18/02 T2 LIVE 19/06 09/11 01/02 17/09 05/10 User testing activities

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

8. 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 2007. Involvement of users regarding XML-messages in case of restart after disaster. 4th Progress Report (June 2007)

9. Legal Documents Walter van Dalen NL

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

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

12. 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) Legal Documents NL

13. Legal Documents NL ECB NCB NCB ILC ILC ILC NCB TARGET Interlinking Network ILC NCB ILC NCB ILC NCB ILC NCB ILC NCB ILC NCB ILC NCB ILC NCB ILC ILC ILC NCB ILC NCB ILC NCB NCB

14. Legal Documents NL

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

16. Original idea: Legal Documents NL

17. Current situation: Legal Documents NL

18. 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) Legal Documents NL

19. 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 Legal Documents NL

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

21. QUESTIONS? Legal Documents NL

35. Relevant Information www.dnb.nl > Betalingsverkeer > Giraal betalingsverkeer > TARGET2 > Downloads Registration Procedure Or www.dnb.nl>Payments > Non cash-payments > TARGET2 > Downloads Registration Procedure - User Guide for collection of Static Data - Registration forms SSP Registration forms

37. Direct Participants

38. 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 DNB

39. 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 Direct Participants

40. Example Form 1000

41. Example Form 1000

42. Example Form 1000 Sector codes S.12202 Dutch Offices S.12203 Foreign Offices S.1311 Government S.1314 SVB

43. Example Form 1000

44. Example Form 1000

45. Example Form 1000

46. Example Form 1000

47. Example Form 1000

48. Example Form 1000

49. 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 Registration of Branches

50. Example Form 1013