Regulation (EU) 2023/2845

In force

This text since 16 Jan 2024law://eu/reg/2023/2845/art_1__pnt_20@2026-11-15

Contents

(20)in Article 40, paragraph 2 is replaced by the following:‘2.Where it is not practical and available to settle in central bank accounts as provided in paragraph 1, a CSD may offer to settle the cash payments for all or part of its securities settlement systems through accounts opened with a credit institution, through a CSD that is authorised to provide the services listed in Section C of the Annex whether within the same group of undertakings ultimately controlled by the same parent undertaking or not, or through its own accounts. If a CSD offers to settle such cash payments through accounts opened with a credit institution, through its own accounts or the accounts of another CSD, it shall do so in accordance with the provisions of Title IV.’;

Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.

Key facts

Type: Regulation · (EU) 2023/2845 · EEA relevant
Adopted: 13 Dec 2023
In force: 16 Jan 2024
Applies from: 1 May 2024
Applies from: 17 Jan 2026
Made by: Council of the European Union, European Parliament
Official: EUR-Lex 32023R2845 · ELI

Topics

banking financial cooperation financial instrument financial legislation financial risk financial supervision payment system provision of services securities third country Economic policy Financial provisions

History · 1 version

16 Jan 2024Reading

Connections

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Amends 1: Regulation (EU) No 909/2014
Cited by 2: Commission Delegated Regulation (EU) 2026/15192 provisions; Commission Implementing Regulation (EU) 2026/15122 provisions

Defined terms · 5

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close links
means close links as defined in Article 4(1), point (35), of Directive 2014/65/EU;
default
means, in relation to a participant, a situation where insolvency proceedings, as defined in Article 2, point (j), of Directive 98/26/EC, are opened against a participant or an event defined in the CSD’s internal rules as constituting a default;’;
deferred net settlement
means a settlement mechanism whereby cash or securities transfer orders in relation to securities transactions of the participants in the securities settlement system are subject to netting, and whereby settlement of participants’ net claims and obligations takes place at the end of predefined settlement cycles during or at the end of the business day.
group
means a group within the meaning of Article 2, point (11), of Directive 2013/34/EU;
qualifying holding
means a direct or indirect holding in a CSD which represents at least 10 % of the capital or of the voting rights, as set out in Articles 9, 10 and 11 of Directive 2004/109/EC of the European Parliament and of the Council, or which makes it possible to exercise a significant influence over the management of the CSD;