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					TARGET2 Migration

CY-CHG-1

Country test scenarios

CY-CHG-1
Friday followed by a Monday with CY-CHG-2

SIMULATION OF THE CHANGE-OVER, DAY 1
Short TARGET/Interlinking operating day followed by the necessary work to be done according to the national migration plan and start of the SSP for overnight processing.

7:00 - 11:00 (T1) 13:00 - 16:00 (T2)

& &

CBs of the same migration group will co-operate to ensure that each direct participant of their national user community has a counterparty in another country of the same migration group for the exchange of some TARGET1/Interlinking payments. Details are to be agreed directly between the participants in advance. End of day balances should simlate the situation of the live changeover and not arranged to be zero. No weekend availability of the SSP foreseen. All change-over activities should be performed during the normal operating hours of this day No free testing allowed in the T1 environment as well as in T2 environment Before or at the beginning of the business day in TARGET2 (nighttime settlement) CBs will ensure the transfer of the liquidity from the former T1 account to the T2 account. Whenever a further increase of test liquidity (or a decrease) is needed during country testing, the user has to request it from its CB sending a test support request via T2TRIS. No specific test report required for CY-CHG-1, only at the end of CY-CHG-2.


€

.
ID IL500
IL510

Test steps
Start time End time Parties involved 7:00 9:00 TARGET 1 - Business day phase I
07:00 09:00 CB, all users

Step description

Exchange of all types of payments in TARGET/Interlinking, both domestic and cross-border transfer. However, cross border activitiy should be limited to those countries belonging to the same migration group (see remark above ).

IL600
IL610 IL620

9:00
09:00 09:00

9:30
--09:30

TARGET I - Business day phase II
CB, all users CB, all users CB, all users Cut-off time for customer payments Exchange of payments in TARGET Interlinking (except MT103/Mt103+) Cut-off time for interbank payments

IL700
IL710

9:30
09:30

11:00
---

TARGET I - End of day processing

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TARGET2 Migration

CY-CHG-1

Country test scenarios

IL720 IL730

09:30 10:00

10:00 11:00

CB CB, all users SSP, CB

TARGET End-of-day procdures Domestic end-of-day procedures Details depend on the detailed migration planning of the CBs (not finalised yet) Balance transfer from T1 to T2 account Details depend on the detailed migration planning of the CBs (not finalised yet)

100 200
299

11:00 11:15
11:15

11:15 16:00
16:00

TARGET2 - Start of day (D + 1) TARGET2 - Night-time processing (D + 1)
SSP, CB

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TARGET2 Migration

CY-CHG-2

Country test scenarios

CY-CHG-2
Monday following a Friday with CY-CHG-1

SIMULATION OF THE CHANGE-OVER, DAY 2
This first country test day is used to exchange some payments of each type with the Interlinking test partner, with the CBs and other banks belonging to the same migration group. No AS settlement is foreseen, but AS may test their interface with the CB.

7:00 - 19:00

&

CBs with a large national user community may wish to create groups of users between which messages should be exchanged and to inform its users accordingly. No free testing allowed between 7:00 and 11:00, only the repetition of the payments as preagreed between participants and mentioned before. As a result the difference of the starting balance and the end-of-day balance should be the same for Friday and Monday. If necessary, additional test liquidity may be requested from the CB via T2TRIS, but such injections should be taken into account when comparing the balances. From 11:00 till 14:00 free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed. Special care has to be taken not to impact tests scheduled for the settlement of ASs. In case of doubts please check with your CB in advance. In the mandatory test report via T2TRIS the test scenarios CY-CHG-1 and -2 should be assessed as either successful, partially sucessful or failed at the end of this

 
.

testing day. If the judgement is partially successful or failed, additional information is required. This information should specify the area of concern (e.g. balance transfer, ICM access, FIN message processing, InterAct messaging, FileAct transfers) and its impact on the user (e.g. testing blocked, testing impacted, clarification needed). If an incident report was already sent, reference to this should be included in the test report. For issues under control of the user an indication should be given about the severity of the problem and the expected time needed to resolve it.

Test steps
ID 400
410

Start time 7:00
07:00

End time Parties involved 7:15 Preparation of daylight operations
--SSP payments

Step description

if defined by the user : activation of reservations defined in static data for urgent and highly urgent

500
510

7:15
08:00

14:00
14:00

Day trade phase I
SSP, CB, all users All users are requested to start by sending exactly the same type and number of payments initiated on previous Friday (CY-CHG-1) in T1/Interlinking mode again in T2 mode. Where necessary, CBs may be asked via a T2TRIS test support request to provide sufficient test liquidity. In addition, the day-light settlement of all ancillary systems will be simulated. See remarks above.

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TARGET2 Migration

CY-CHG-2

Country test scenarios

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP, CB, all users SSP, CB, all users Cut-off time for customer payments Each user should sent one MT103 or MT103+ to another user in the same country, which will be rejected by the SSP.

900
910 920 930 940 950 960

14:30
14:30 14:30 14:30 14:45 15:10 15:10

15:15
--15:10 15:10 ----15:15

End of day processing
SSP, CB, all users SSP, all users SSP, all users SSP, CB, all users SSP, CB SSP, CB, all users SSP, CB, all users Cut-off time for interbank payments if defined by the user: automatic transfer of liquidity to HAM/PHA account optional: marginal lending automatic, i.e.intraday credit [via overdraft] not reimbursed covered by SF using connected payments Cut-off time for access to Standing Facilities Cut-off time for settlement of Standing Facilities transactions if defined by the user: Receipt of MT940/MT950 optional : Reimbursement and interest payment for Standing Facilities

100
110

15:15
15:30

16:00
---

Start of day (D+1)

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TARGET2 Migration

CY-NOR-X

Country test scenarios

CY-NOR-X
No specific timing requirements or dependencies with other scenarios

STANDARD TEST DAY - NORMAL OPERATIONS
Standard test day allowing for the exchange of payments, test of the domestic part of AS settlement procedures and, if applicable, the interface with the HAM/PHA. Standing facilities available and used. Optional elements included: debiting/crediting of MR interest/penalties, billing, reduced test timing on Friday.

7:00 - 19:00

& $  .

CBs should agree with their national user community in advance on which day and according to which timing the different AS systems will be testing their settlement processes and with which result (settlement successful, user does not accept the debiting, setttlement delayed, settlement completed using the guarantee account and settlement failed). It is the responsibility of the direct T2 participant co-managing one or several accounts in HAM/PHA to test the respective functionality for shifting liquidity between PM and HAM/PHA. Free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed during the whole day. Special care has to be taken not to impact tests scheduled for the settlement of ASs. In case of doubts please check with your CB in advance. In the mandatory test report via T2TRIS the test scenario should be assessed as either successful, partially sucessful or failed at the end of the testing period CYNOR-X. If the judgement is partially successful or failed, additional information is required. This information should specify the area of concern (e.g. PM payment processing, AS settlement, HAM/PHA interface, usage of Standing Facilities, Minimum Reserve calculation) and its impact on the user (e.g. testing blocked, testing impacted, clarification needed). If an incident report was already sent, reference to this should be included in the test report. For issues under control of the user an indication should be given about the severity of the problem and the expected time needed to resolve it. The following NL-scenario's from the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands' will be executed (a participant does not have to participate in testing on every CY-NOR-X testdays and does not have to execute all NL-scenario's on the same day, but at the end of the CY-NOR-X testperiod all NL-scenario's (when applicable for the participant) must have been executed): 1) PAY1, PAY2, PAY3 with several participants 2) PAY4 (direct debit), if applicable 3) NEG1 and NEG2 4) TFT1, TFT2 and TFT3 5) CHQ1 6) TNS1, TNS2 and TNS3

NL

Test steps
400
410

7:00
07:00

7:15
---

Preparation of daylight operations
SSP if defined by the user : activation of reservations defined in static data for urgent and highly urgent payments

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TARGET2 Migration

CY-NOR-X

Country test scenarios

500
510 520

7:15
07:15 07:15

14:00
14:00 ---

Day trade phase I
SSP, CB, all users Exchange of payments (all types), liqudity transfers, day-light settlement of AS (see remarks above)

SSP, CBs and all users On each second business day after the end of the MR period only: Crediting of interest obliged to held minimum reserves resp. debiting of penalties takes place.

530 780

07:15 07:15

--14:45

CB and all users SSP, CB, all users

If last day of the month or last day of the year: debiting of fees At least on one of the CY-NOR-X testdays a particpant has to execute the following test: user deposits collateral with the collateral manager who requests a marginal lending facility transfer (testscenario MLR1 from the document 'Information about NL Tests, Country Tests and Business Day Tests in

790

07:15

14:45

SSP, all users

the Netherlands') At least on one of the CY-NOR-X testdays a particpant has to execute the following test: user moves funds to the overnight deposit facility (or performs reverse transaction)

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP, CB, all users SSP, CB, all users SSP, CB, all users SSP, all users Cut-off time for customer payments Exchange of payments (except MT103/MT103+) Cut-off time for interbank payments At least on one of the CY-NOR-X testdays a particpant has to execute the following test: marginal lending automatic, i.e.intraday credit [via overdraft] not reimbursed covered by SF using connected payments Cut-off time for access to Standing Facilities Cut-off time for settlement of Standing Facilities transactions if defined by the user: Receipt of MT940/MT950 optional : Reimbursement and interest payment for Standing Facilities

900
910 930

14:30
14:30 14:30

15:15
--15:10

End of day processing

940 950 960

14:45 15:10 15:10

----15:15

SSP, CB, all users SSP, CB SSP, CB, all users

100
110

15:15
15:30

16:00
16:00

Start of day (D+1)
SSP, CB, all users

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TARGET2 Migration

CY-NOR-X (end of MR)

Country test scenarios

CY-NOR-X
Last day of the minimum reserve period should not be a Friday.

STANDARD TEST DAY - NORMAL OPERATIONS
Standard test day allowing for the exchange of payments, test of the domestic part of AS settlement procedures and, if applicable, the interface with the HAM/PHA. Standing facilities available and used.

7:00 - 19:00

Special situation: last day of the minimum reserve period.

& $ $ 

CBs should agree with their national user community in advance on which day and according to which timing the different AS systems will be testing their settlement processes and with which result (settlement successful, user does not accept the debiting, setttlement delayed, settlement completed using the guarantee account and settlement failed). Users are requested to stop sending payments and liquidity transfers at 14:00 to allow CBs for the respective adaptation of the minimum reserve requirements for the test. It is the responsibility of the direct T2 participant co-managing one or several accounts in HAM/PHA to test the respective functionality for shifting liquidity between PM and HAM/PHA. Free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed during the whole day. Special care has to be taken not to impact tests scheduled for the settlement of ASs. In case of doubts please check with your CB in advance. In the mandatory test report via T2TRIS the test scenario should be assessed as either successful, partially successful or failed at the end of the testing period regarding CY-NOR-X (end of MR). If the judgement is partially successful or failed, additional information is required. This information should specify the area of concern (e.g.

usage of impact on testing . PM payment processing, AS settlement,IfHAM/PHA interface,was alreadyStanding Facilities,toMinimum Reserve calculation) and itsreport. For the user (e.g. control blocked, testing impacted, clarification needed). an incident report sent, reference this should be included in the test issues under of the user an indication should be given about the severity of the problem and the expected time needed to resolve it. The following NL-scenario's from the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands' will be executed (a participant does not have to participate in testing on every CY-NOR-X (end of MR) testdays and does not have to execute all NL-scenario's on the same day, but at the end of the CY-NOR-X (end of MR) testperiod all NL-scenario's (when applicable for the participant) must have been executed): 1) PAY1, PAY2, PAY3 with several participants 2) PAY4 (direct debit), if applicable 3) NEG1 and NEG2 4) TFT1, TFT2 and TFT3 5) CHQ1 6) TNS1, TNS2 and TNS3 On selected days Equens will participate (these days have to be agreed on). On these days the NL-scenarios KAV1, KAV2 and KAV3 will be tested.

NL

Test steps
ID 400 Start time 7:00 End time Parties involved 7:15 Preparation of daylight operations Step description

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TARGET2 Migration

CY-NOR-X (end of MR)

Country test scenarios

410

07:00

---

SSP

if defined by the user : activation of reservations defined in static data for urgent and highly urgent payments Exchange of payments (all types), liqudity transfers, day-light settlement of AS (see remarks above)

500
510 520

7:15
07:15 07:15

14:00
14:00 ---

Day trade phase I
SSP, CB, all users

SSP, CBs and all users On each second business day after the end of the MR period only: Crediting of interest obliged to held resp. debiting of penalties takes place. minimum reserves CB and all users SSP, CB, all users If last day of the month or last day of the year: debiting of fees At least on one of the CY-NOR-X (end of MR) testdays a particpant has to execute the following test: user deposits collateral with the collateral manager who requests a marginal lending facility transfer (testscenario MLR1 from the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands') At least on one of the CY-NOR-X (end of MR) testdays a particpant has to execute the following test: user moves funds to the overnight deposit facility (or performs reverse transaction)

530 780

07:15 07:15

--15:00

790

07:15

15:00

SSP, all users

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP, CB, all users All users Cut-off time for customer payments Users are requested to stop sending payments and liquidity transfers at 14:00 to allow CBs for the respective adaptation of the minimum reserve requirements for the test.

900
910 930

14:30
14:30 14:30

15:30
--15:10

End of day processing
SSP, CB, all users SSP, all users

Cut-off time for interbank payments At least on one of the CY-NOR-X (end of MR) testdays a particpant has to execute the following tes: marginal lending automatic, i.e.intraday credit [via overdraft] not reimbursed covered by SF using connected payments Cut-off time for access to Standing Facilities Cut-off time for settlement of Standing Facilities transactions if defined by the user: Receipt of MT940/MT950 optional : Reimbursement and interest payment for Standing Facilities

940 950 960

15:00 15:25 15:25

----15:30

SSP, CB, all users SSP, CB SSP, CB, all users

100
110

15:30
15:45

16:15
16:15

Start of day (D+1)
SSP, CB, all users

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TARGET2 Migration

CY-UCO-X

Country test scenarios

CY-UCO-X
Due to the delivery of the original single payments and the return of the lunp-sum payments testing should take place on consecutive business days.

STANDARD TEST DAY - USER CONTINGENCY
Standard test day allowing for the exchange of payments, test of the domestic part of AS settlement procedures and, if applicable, the interface with the HAM/PHA. Standing facilities available. In addition, according to pre-agreed timing testing of user contingency measures applicable to AS and users.

7:00 - 19:00

$  .

It is the responsibility of the direct T2 participant co-managing one or several accounts in HAM/PHA to test the respective functionality for shifting liquidity between PM and HAM/PHA in contingency mode. Free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed during the whole day. Special care has to be taken not to impact tests scheduled for the settlement of ASs. In case of doubts please check with your CB in advance. In the mandatory test report via T2TRIS the test scenario should be assessed as either successful, partially sucessful or failed at the end of the testing period regarding CY-UCO-X. If the judgement is partially successful or failed, additional information is required. This information should specify the area of concern (e.g. contingency processing, PM payment processing, AS settlement, HAM/PHA interface, usage of Standing Facilities, Minimum Reserve calculation) and its impact on the user (e.g. testing blocked, testing impacted, clarification needed). If an incident report was already sent, reference to this should be included in the test report. For issues under control of the user an indication should be given about the severity of the problem and the expected time needed to resolve it. During the testday DNB will contact participants who will be operating for several hours, including the end-of-day-process, in contingency mode, using the agreed contingency measures (entering payments by DNB via ICM on behalf of participant who first has to send a fax to DNB (testscenario CON1 from the the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands') and backup lump-sum). The return of the back-up lump-sum payment and the delivery of the original single payments will be done on d+1. The other participants can perform the following NL-scenario's from the the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands (it is not madatory to participate on each CY-UCO-X testday in the tests below, but it is

NL

expected that a participant has executed all the NL-scenarios below at least once during all CY-UCO-X testdays. However, DNB can request on every day during the CY-UCO-X testday to participate in contingency mode, and than participation is mandatory): 1) PAY1, PAY2, PAY3 with several participants 2) PAY4 (direct debit), if applicable 3) TFT1, TFT2 and TFT3 4) CHQ1 5) TNS1, TNS2 and TNS3

Test steps
ID 400 Start time End time Parties involved 7:00 7:15 Preparation of daylight operations Step description

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TARGET2 Migration

CY-UCO-X

Country test scenarios

410

07:00

---

SSP

if defined by the user : activation of reservations defined in static data for urgent and highly urgent payments Exchange of payments (all types), liqudity transfers, day-light settlement of AS (see remarks above) On the second business day after the end of the MR period: Crediting of interest resp. debiting of penalties takes place. Exchange of back-up and contingency payments (all relevant categories)

500
510 520

7:15
07:15 07:15

14:00
09:00 ---

Day trade phase I
SSP, CB, all users CB and all users obliged to held minimum reserves Users scheduled for contingency

530

09:00

14:00

540

09:00

14:00

processing all users except those Exchange of payments (all types), for those having exchanged back-up lum-sum payments on the metioned in 530 previous day, sending of the original payments and return of the lumpsum payment SSP, CB, all users SSP, all users optional: user deposits collateral with the collateral manager who requests a marginal lending facility transfer optional: user moves funds to the overnight deposit facility (or performs reverse transaction)

780 790

07:15 07:15

14:45 14:45

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP, CB, all users SSP, CB, all users SSP, CB, all users SSP, all users SSP, CB, all users SSP, CB SSP, CB, all users Cut-off time for customer payments Exchange of payments (except MT103/MT103+) Cut-off time for interbank payments optional: marginal lending automatic, i.e.intraday credit [via overdraft] not reimbursed covered by SF using connected payments Cut-off time for access to Standing Facilities Cut-off time for settlement of Standing Facilities transactions if defined by the user: Receipt of MT940/MT950 optional : Reimbursement and interest payment for Standing Facilities

900
910 930 940 950 960

14:30
14:30 14:30 14:45 15:10 15:10

15:15
--15:10 ----15:15

End of day processing

100
110

15:15
15:30

16:00
16:00

Start of day (D+1)
SSP, CB, all users

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TARGET2 Migration

CY-UCO-X (end of MR)

Country test scenarios

CY-UCO-X
Due to the delivery of the original single payments and the return of the lunp-sum payments testing should take place on consecutive business days. This last day of the MR period should not be a Friday. used.

STANDARD TEST DAY - USER CONTINGENCY
Standard test day allowing for the exchange of payments, test of the domestic part of AS settlement procedures and, if applicable, the interface with the HAM/PHA. Standing facilities available. In addition, according to pre-agreed timing testing of user contingency measures applicable to AS and normal users. Standing facilities available and

Special situation: last day of the minimum reserve period.

7:00 - 19:00

$ $  .

Users are requested to stop sending payments and liquidity transfers at 14:00 to allow CBs for the respective adaptation of the minimum reserve requirements for the test. It is the responsibility of the direct T2 participant co-managing one or several accounts in HAM/PHA to test the respective functionality for shifting liquidity between PM and HAM/PHA in contingency mode. Free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed during the whole day. Special care has to be taken not to impact tests scheduled for the settlement of ASs. In case of doubts please check with your CB in advance. In the mandatory test report via T2TRIS the test scenario should be assessed as either successful, partially sucessful or failed at the end of the testing period regarding CY-UCO-X (end of MR). If the judgement is partially successful or failed, additional information is required. This information should specify the area of concern (e.g. contingency processing, PM payment processing, AS settlement, HAM/PHA interface, usage of Standing Facilities, Minimum Reserve calculation) and its impact on the user (e.g. testing blocked, testing impacted, clarification needed). If an incident report was already sent, reference to this should be included in the test report. For issues under control of the user an indication should be given about the severity of the problem and the expected time needed to resolve it. During the testday DNB will contact participants who will be operating for several hours, including the end-of-day-process, in contingency mode, using the agreed contingency measures (entering payments by DNB via ICM on behalf of participant who first has to send a fax to DNB (testscenario CON1 from the the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands') and backup lump-sum). The return of the back-up lump-sum payment and the delivery of the original single payments will be done on d+1. The other participants can perform the following NL-scenario's from the the document 'Information about NL Tests, Country Tests and Business Day Tests in the Netherlands (it is not madatory to participate on each CY-UCO-X (end of MR) testday in the tests

NL

below, but it is expected that a participant has executed all the NL-scenarios below at least once during all CY-UCO-X (end of MR) testdays. However, DNB can request on every day during the CY-UCO-X (end of MR) testday to participate in contingency mode, and than participation is mandatory): 1) PAY1, PAY2, PAY3 with several participants 2) PAY4 (direct debit), if applicable 3) TFT1, TFT2 and TFT3 4) CHQ1 5) TNS1, TNS2 and TNS3 On selected days Equens will participate (these days have to be agreed on). On these days the NL-scenarios KAV1, KAV2 and KAV3 will be tested.

Test steps
ID 400 Start time End time Parties involved 7:00 7:15 Preparation of daylight operations Step description

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TARGET2 Migration

CY-UCO-X (end of MR)

Country test scenarios

410

07:00

---

SSP

if defined by the user : activation of reservations defined in static data for urgent and highly urgent payments

500
510 520

7:15
07:15 07:15

14:00
09:00 ---

Day trade phase I
SSP, CB, all users CB and all users obliged to held minimum reserves Users scheduled for Exchange of payments (all types), liqudity transfers, day-light settlement of AS (see remarks above) On the second business day after the end of the MR period: Crediting of interest resp. debiting of penalties takes place. Exchange of back-up and contingency payments (all relevant categories)

530 540

09:00 09:00

14:00 14:00

contingency processing all users except those Exchange of payments (all types), for those having exchanged back-up lum-sum payments on the metioned in 530 previous day, sending of the original payments and return of the lumpsum payment SSP, CB, all users SSP, all users optional: user deposits collateral with the collateral manager who requests a marginal lending facility transfer optional: user moves funds to the overnight deposit facility (or performs reverse transaction)

780 790

07:15 07:15

15:00 15:00

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP, CB, all users SSP, CB, all users Cut-off time for customer payments Exchange of payments (except MT103/MT103+)

900
910 930 940 950 960

14:30
14:30 14:30 15:00 15:25 15:25

15:30
--15:10 ----15:30

End of day processing
SSP, CB, all users SSP, all users SSP, CB, all users SSP, CB SSP, CB, all users Cut-off time for interbank payments optional: marginal lending automatic, i.e.intraday credit [via overdraft] not reimbursed covered by SF using connected payments Cut-off time for access to Standing Facilities Cut-off time for settlement of Standing Facilities transactions if defined by the user: Receipt of MT940/MT950 optional : Reimbursement and interest payment for Standing Facilities

100
110

15:30
15:45

16:15
16:15

Start of day (D+1)
SSP, CB, all users

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TARGET2 Migration

Free

Country test scenarios

--No specific timing requirements

RESERVE DAY - USED FOR FREE TESTING
This day is reserved for the repetion of the normal or contingency scenarios. If not required for this purpose free testing will be possible. Concrete test scenario to be run will be announced at least one week before.

7:00 - 19:00
The following test scenario description describes a free testing day. If this test day is used to repeat an earlier test, this will have to be replaced by the respective description from the test event to be repeated.

 .
ID 400
410

Free testing according to the rules as defined in the TARGET2 User Testing Guide for Migration and in line with the business day phases is allowed during the whole day. Free testing does not require the delivery of a test report at the end of the day. However, users are strongly invited to inform their CB via T2TRIS about any relevant observations made during free testing which might have an impact on test progress and live operations in the future.

Test steps
Start time End time Parties involved 7:00 7:15 Preparation of daylight operations
07:00 --SSP by the user)

Step description

Activation of reservations defined in static data for urgent and highly urgent payments (if defined

500
510

7:15
07:15

14:00
14:00

Day trade phase I
All users Exchange of payments (all types)

800
810 820

14:00
14:00 14:00

14:30
--14:30

Day trade phase II
SSP All users All users All users All users All users Cut-off time for customer payments Exchange of payments (except MT103/Mt103+) Cut-off time for interbank payments Cut-off time for access to Standing Facilities Cut-off time for Standing Facilities settlement Receipt of MT940/MT950 (if chosen by the user)

900
910 920 930 940

14:30
14:30 14:45 15:10 after 15:10

15:15
---------

End of day processing

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TARGET2 Migration

Free

Country test scenarios

100
110 120 130CC

15:15
15:30 15:30 15:30

16:00
-------

Start of day (D + 1)
SSP, CB SSP CB AS, SB Reimbursement and interest payment for Standing Facilities (if applicable to the user) Automatic execution of standing orders for night time settlement (if defined by the user) Update of credit lines (if applicable) Users (ASs, SBs) should inform the respective CB in advance, if they wish to test and therefore may require support from the CB during this phase.

200
210

16:00
16:00

19:00
19:00

Night-time processing (D + 1)

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