(8)The holding by NB-PSPs of accounts in a Eurosystem central bank operated payment system, including TARGET, while permissible, should only be for the purpose of placing funds to meet settlement obligations. Therefore, the balance, or holdings, on such accounts should not exceed what is necessary to meet such obligations. Placing funds in excess of that amount on accounts held in a Eurosystem central bank operated payment system would contradict its purpose. From a price and financial stability perspective, it is important that such accounts are used for payment purposes and not misused for safeguarding purposes. Consequently, a maximum holding amount limit should apply and this requirement as well as the provisions regarding its calculation should be reflected accordingly in the terms and conditions of agreements between the Eurosystem central banks and the NB-PSPs.