TITLE: Lithuania's Bank of Lithuania Amends TARGET Payment System Participation Rules
BODY:
On June 4, 2026, the Bank of Lithuania adopted a resolution amending the Rules for Participation in the TARGET Payment System operated by the Bank of Lithuania. The resolution was registered on June 9, 2026, and published in the Official Gazette of the Republic of Lithuania (TAR) under number 2026-10130.
The amendment modifies specific provisions within the TARGET participation rules, which govern the conditions and procedures for financial institutions participating in Lithuania's real-time gross settlement system. The changes affect multiple sections of the rules, including provisions related to primary settlement accounts, real-time individual settlement special settlement accounts (RLAA SLS), TARGET2-Securities special settlement accounts (T2S SLS), and TARGET Instant Payment Settlement special settlement accounts (TIPS SLS). The amendments also address technical specifications for payment transfer processing, business continuity procedures, operating schedules, pricing arrangements, and information security requirements.
The resolution comes into effect on June 15, 2026, with certain provisions taking effect at a later date. Specifically, sections 5.1.6, 5.1.7, 5.2.3, 5.2.4, 19.1.2, 83.3, 85.1–85.3, 88.3, 88.5, 91.1, 93.4, 105.1, 105.5, 105.6, 108.3, 108.5, 109.2, 111.1, 111.2, 111.4, 113.1, and 115.4, along with specified appendices, become effective on November 14, 2026. The amendments align with relevant European Union payment systems directives and regulations, including Directive 2015/2366 on Payment Services and related financial infrastructure legislation.
REFERENCES:
https://data.e-tar.lt/eli/valst/nut/tar/2026/10130/op