Decision of the European Central Bank of 24 July 2007 concerning the terms and conditions of TARGET2-ECB (ECB/2007/7) (2007/601/EC)

Article 10Opening and management of PM accounts

1.The ECB shall open and operate at least one PM account and, if applicable, sub-accounts, for each participant.

2.No debit balance shall be allowed on PM accounts.

3.PM accounts and their sub-accounts shall be interest free.

4.Participants shall use the ICM to obtain information on their liquidity position. The ECB shall provide a daily statement of accounts to any participant that has opted for such service.