---
title: "TARGET2 / T2 RTGS (ECB) — payment-authority governance incl. Settlement Finality Directive 98/26/EC — KYE Protocol™ coverage"
description: "TARGET2 / T2 RTGS (ECB) — payment-authority governance incl. Settlement Finality Directive 98/26/EC coverage by KYE Protocol™ — every requirement bijection-mapped to the KYE™ artefact that enforces it."
url: https://kyeprotocol.com/compliance/target2-rtgs/
lang: en
source: "KYE Protocol"
---

> TARGET2 / T2 RTGS (ECB) — payment-authority governance incl. Settlement Finality Directive 98/26/EC coverage by KYE Protocol™ — every requirement bijection-mapped to the KYE™ artefact that enforces it.

TARGET2 / T2 RTGS (ECB) — payment-authority governance incl. Settlement Finality Directive 98/26/EC

# TARGET2 / T2 RTGS (ECB) — payment-authority governance incl. Settlement Finality Directive 98/26/EC — 90% of in-scope requirements covered.

7 requirements · 5 in scope (4 enforced · 1 designed) · 2 out-of-scope (outside KYE™’s authority layer). The 90% is weighted over the in-scope base.

**Source:** Guideline (EU) 2022/912 of the European Central Bank on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) (ECB/2022/8), including the harmonised conditions for participation in Annex I, together with Directive 98/26/EC on settlement finality in payment and securities settlement systems (moment-of-entry and irrevocability points). KYE Protocol™ governs the PAYMENT-AUTHORITY dimension of participation: whether an instruction (human- or AI-agent-originated) carries a live, purpose-scoped mandate, with the verdict and evidence sealed BEFORE the SFD finality moment. KYE™ does not effect settlement, provide liquidity, or confer legal finality. · **License:** The TARGET Guideline and the Settlement Finality Directive are EU legal acts (EUR-Lex); the KYE™ registry paraphrases each requirement's intent and cites the instrument for mapping purposes only.

## By category

| Category | Reqs | Enforced | Designed | Advisory | Deferred | Coverage |
| --- | --- | --- | --- | --- | --- | --- |
| Participation, access criteria & authorised-user binding | 1 | 1 | 0 | 0 | 0 | **100%** |
| Settlement finality & irrevocability (SFD 98/26/EC dimension) | 1 | 1 | 0 | 0 | 0 | **100%** |
| Suspension, termination & revocation propagation | 1 | 1 | 0 | 0 | 0 | **100%** |
| ISO 20022 messaging integrity & record retention | 1 | 1 | 0 | 0 | 0 | **100%** |
| Operational resilience, self-certification & incident notification | 1 | 0 | 1 | 0 | 0 | **50%** |
| Settlement execution & legal conferral of finality | 1 | 0 | 0 | 0 | 0 | **0%** |
| Liquidity provision & intraday credit | 1 | 0 | 0 | 0 | 0 | **0%** |

## Every requirement → the KYE™ artefact that enforces it

| ID | Title | Status | KYE™ enforcement |
| --- | --- | --- | --- |
| `target2-rtgs.participation-access-authority` | Payment orders are submitted only by admitted participants through authorised users acting under a recorded, in-force mandate (TARGET Guideline access criteria + authorised-user / distinguished-role model) | enforced | **audit\_events**: `kye.purpose.request.v1`, `kye.purpose.admissibility.v1`, `kye.evidence.decision_map.v1`, `kye.compliance.attestation.v1` **engines**: `internal`, `internal` **rule\_packs**: `kye:rule-pack:payments-eu` **sector\_packs**: `kye:sector-pack:financial-services` **constitution\_refs**: `constitution/12-PURPOSE-PERMISSION.md` |
| `target2-rtgs.pre-settlement-authority-checkpoint` | Because settlement finality is conferred at the moment of entry and cannot be unwound (Settlement Finality Directive 98/26/EC Arts 3 & 5 as implemented in the TARGET rules), the authority verdict and its evidence must be complete BEFORE a payment order enters the system | enforced | **audit\_events**: `kye.purpose.admissibility.v1`, `kye.evidence.pack.v1`, `kye.replay.context_seal.v1`, `kye.replay.proof.v1` **engines**: `internal`, `internal` **rule\_packs**: `kye:rule-pack:payments-eu` **constitution\_refs**: `constitution/13-RESILIENCE-LOOP.md` |
| `target2-rtgs.revocation-suspension-propagation` | Suspension or termination of participation, and revocation of a user's authorisation, must take effect on submission channels without delay (TARGET Guideline suspension/termination provisions) | enforced | **audit\_events**: `kye.purpose.admissibility.v1`, `kye.evidence.decision_map.v1`, `kye.compliance.attestation.v1` **engines**: `internal`, `internal` **governedui\_modules**: `kye.governedui.module.authority_drift.v1` **constitution\_refs**: `constitution/36-GOVERNEDUI.md` |
| `target2-rtgs.message-integrity-records` | ISO 20022 payment messages (pacs/camt families) must be traceable and participants must retain adequate records of submitted orders and their authorisation for audit and dispute purposes | enforced | **audit\_events**: `kye.evidence.pack.v1`, `kye.evidence.tool_call.v1`, `kye.audit_retention_policy.v1` **engines**: `internal` **constitution\_refs**: `constitution/30-AUDIT-WORM-RETENTION.md` |
| `target2-rtgs.operational-resilience-incident` | Participants must meet the TARGET information-security and operational-resilience requirements (annual self-certification) and notify the central bank of security and operational incidents affecting their connection | designed | **audit\_events**: `kye.compliance.attestation.v1`, `kye.evidence.pack.v1` **constitution\_refs**: `constitution/13-RESILIENCE-LOOP.md`, `constitution/34-RECONCILIATION-ENGINE.md` |
| `target2-rtgs.settlement-finality-execution` | Effecting settlement in central bank money and legally conferring finality/irrevocability on entered orders (SFD 98/26/EC protection of the system) | out-of-scope | _(no enforcement cited)_ |
| `target2-rtgs.liquidity-intraday-credit` | Intraday liquidity management: funding MCAs/DCAs, intraday credit lines against eligible collateral, liquidity transfers and reservations | out-of-scope | _(no enforcement cited)_ |

Canonical KYE™ surfaces referenced on this page: [KYE Protocol™](https://kyeprotocol.com/).