1. Unless decided otherwise by the Governing Council, the respective euro area NCB shall apply penalties in the following cases:
where a CCP’s access to the CCP credit facility is limited in accordance with Article 5 and the CCP exceeds the restricted level of access; or
where a CCP resorts to the CCP credit facility in breach of Article 3(1), point (a).
2. The penalties referred to in paragraph 1 shall take the form of penalty interest rates, which shall be calculated in line with:
Annex I, Part II, Article 12a(3), point (a), to Guideline (EU) 2022/912 (ECB/2022/8), if the case set out in paragraph 1, point (a) or point (b), occurs for the first time within any 12-month period;
Annex I, Part II, Article 12a(3), point (b), to Guideline (EU) 2022/912 (ECB/2022/8), if the case set out in paragraph 1, point (a) or point (b), occurs for at least the second time within the same 12-month period.
3. The penalty interest rates referred to in paragraph 2 shall be applied to:
in the case set out in paragraph 1, point (a), the amount used under the CCP credit facility in excess of the restricted level of access set as a permitted limit; or
in the case set out in paragraph 1, point (b), the full amount used under the CCP credit facility.