The Decision (EU) 2025/1148 of the European Central Bank (ECB) adopted on 2 June, has been published in the Official Journal of the European Union. This decision amends Decision (EU) 2025/222 concerning access by non-bank payment service providers (NB-PSPs), namely payment institutions and electronic money institutions, to central bank operated payment systems, including TARGET. Due to delays by some member states in transposing the relevant EU directives into national legislation, the ECB has decided to defer the date from which NB-PSPs can request access to TARGET from 16 June to 6 October. Additionally, the transition period for NB-PSPs to migrate to from their current status (e.g., as addressable BIC holders or reachable parties) to full TARGET participants has been extended from 31 December to 31 March 2026. To ensure a smooth transition, the decision enters into force immediately following its publication in the Official Journal of the European Union.
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