(7)In order to minimise any potential disruption to or negative impact on payment processing that would affect end-users once certain NB-PSPs are no longer registered as addressable BIC holders or reachable parties on the Eurosystem central banks’ own account, a transition period is necessary to enable the migration of such NB-PSPs that are eligible and wish to become direct participants in TARGET. The NB-PSPs to which this transition period would apply are those registered as addressable BIC holders or reachable parties on the Eurosystem central banks’ own account. The length of the transition period would need to be sufficient to facilitate the completion of all necessary administrative and technical implementation, including testing activities by the NB-PSPs in conjunction with the relevant Eurosystem central banks, and to allow for the migration of multiple entities to a new connection model without unduly overburdening any individual Eurosystem central bank. A transition period until 31 December 2025 is considered reasonable and appropriate for such implementation and for the phasing out of the existing connection by certain NB-PSPs for payment processing.