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Central Bank of Malta updates Directive No. 6

The Central Bank of Malta has today published a revised version of its Directive No. 6 on the Harmonised Conditions for Opening and Operating Payments Module Accounts, T2S Dedicated Cash Accounts in TARGET2-Malta (Directive No. 6), implementing the amendments introduced by Guideline ECB/2021/30 which amend Guideline ECB/2012/27 on a Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET2).  

The main amendments introduced by Guideline ECB/2021/30 concern (i) the TIPS reachability measures, which require the migration of Automated Clearing Houses (ACHs), SEPA Instant Credit Transfers (SCT Inst) and  the Ancillary Systems Interface to TIPS; (ii) the reachability of PM account holders, indirect participants and addressable BICs in TIPS; and (iii) an extension of the endpoint security requirements.

The amendments introduced in Directive No. 6 come into force on 21 November 2021.