By Order 3/2026, published in the Official Gazette no. 481 of 10 June 2026, technical and operational changes are introduced in the interbank payment system, with the main purpose of integrating the new international instant payment scheme (OCT Inst) and updating the fee structure.
What does it provide?
The main change concerns alignment with European standards for cross-border instant payments through the integration of the OCT Inst (One-Leg Out Instant Credit Transfer) scheme. This scheme regulates the euro component of an international instant credit transfer, allowing interoperability between payment service providers within the SEPA area and those outside it. Participants in the instant payment settlement system (TIPS) who wish to process such transactions must formally adhere to the new scheme and notify the National Bank of Romania (NBR), demonstrating the technical capability to manage these operations.
The Order introduces new functionalities for automated liquidity management. Participants can now set minimum and maximum limits for accounts dedicated to instant payments (TIPS DCA). When these thresholds are reached, the system can automatically initiate liquidity transfer orders to or from the main account (MCA), including between accounts belonging to different participants within the same group. This feature enables more efficient fund management and reduces the risk of operational blockages caused by insufficient liquidity.
The fee structure for real-time gross settlement accounts (RTGS DCA) is amended, applicable from 1 July 2026. Credit institutions will have to choose between two pricing options: either a fixed monthly fee of EUR 400 plus a fee of EUR 0.80 per transaction, or a monthly fee of EUR 5,000 plus a variable fee decreasing depending on the monthly transaction volume. It is also clarified that for each instant payment a fee of EUR 0.001 is charged both to the paying participant and to the receiving participant.
Who does it apply to?
The changes directly affect the following entities:
- Credit institutions (banks) that are participants or wish to become participants in the TARGET-Romania payment system.
- Ancillary systems (AS), such as clearing and settlement mechanisms, which use the TIPS platform for instant payment settlement.
- Other eligible financial entities holding accounts in the system operated by the National Bank of Romania.
What should you do?
- Assess the impact of the new pricing options on operational costs and choose the optimal fee structure for the institution’s transaction volume, considering the application date of 1 July 2026.
- Analyze the opportunity to join the OCT Inst international instant payment scheme and prepare the necessary documentation to notify the NBR if you decide to offer this service to clients.
- Update internal IT systems to ensure compatibility with the new message types and communication protocols, especially those related to the OCT Inst scheme, by the deadline of 14 November 2026.
- Implement the new automated liquidity management functionalities (upper/lower limits and rule-based transfers) to optimize treasury flows in accounts held within the TARGET system.
Source: Official Gazette, Part I, no. 481 of 10 June 2026.
Note: This material is for informational purposes only and does not constitute legal, tax, or business advice. As the interpretation and application of legal provisions may vary significantly depending on the specific circumstances of each entity, we recommend seeking specialized legal assistance before making any operational decisions based on these changes.