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Recital 36

Recital 36

(36)In order to better support the efficiency of the settlement market, deepen capital markets and enhance cross-border settlement, a CSD authorised to provide banking-type ancillary services in accordance with Regulation (EU) No 909/2014, whose relevant risks are already monitored, should be able to offer services pertaining to the settlement of the cash payments to CSDs that are not authorised under Directive 2013/36/EU, in a currency other than that of the country where the CSD seeking to use those services is established, irrespective of whether they are part of the same group of companies. An authorisation to designate CSDs or credit institutions should only be used for the settlement of the cash payments for all or part of the securities settlement systems of the CSD seeking to use the banking-type ancillary services. It should not be used for the purposes of carrying out any other activities. It should also be possible for a CSD that intends to settle the cash payments for all or part of its securities settlement systems through its own accounts or that otherwise intends to provide any banking-type ancillary services to be authorised to do so under the conditions laid down in Regulation (EU) No 909/2014.

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