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Articles 1, 39 and 43 of the Rules for TARGET2-Suomen Pankki will be amended, as from 1 January 2013, in accordance with Guideline ECB/2012/27 issued by the European Central Bank on the TARGET2 system. There will also be updates to Annex VI and Appendix IIA to Annex VIII.
Monetary Policy
Amendments and specifications have been made to the definition of financial penalties for infringement of rules related to tender operations, bilateral transactions, the use of underlying assets and the rules for end-of-day procedures or for access to the marginal lending facility. Accordingly, the examples of the calculation of financial penalties in Annex 4 have also been updated.
TARGET 2 -Suomen Pankki
The definition of Article 1 on events of default has been specified in respect of participants entitled to access intraday credit where the eligibility of the participant as a counterparty for Eurosystem monetary policy operations has been suspended or terminated. A corresponding mention was added to Article 39 of the Rules.
Annex VI defines the new monthly fees for PM accounts and specifies the pricing for registration of addressable BIC codes. Appendix IIA to Annex VIII includes the increase in the monthly fee for direct participants' internet-based access.
Collateral