EBA · 2022_6475 Rejected question

Credit risk and EBA Clearing instant payment system RT1

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
Article 113
Topic
Credit risk
Submitted by
Competent authority
Submitted
2022-06-06
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Question

Credit institutions are participating in EBA Clearing instant payment system RT1. Whether the bank’s credit risk exposure related to the system holding balance is to the system operator, ie EBA Clearing or to the European Central Bank as the institution managing the consolidated accounts?

Background

Credit institutions are participating in EBA Clearing instant payment system RT1. The system is operated by a separate legal entity, EBA Clearing, which has entered into instant payments agreements with member banks of the system. EBA Clearing has also entered into an agreement with the European Central Bank, which is the institution holding the consolidated account of TARGET2.  Whether the bank’s credit risk exposure related to the system holding balance is to the system operator, ie EBA Clearing or to the European Central Bank as the institution managing the consolidated accounts?
No answer published yet.

Original source: European Banking Authority, Q&A ID 2022_6475

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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