45 Interbank money market a market for very short and short term deposits between banks .

Yet what is now a reality for cash payments is still a vision for cashless payments .

It is only by ensuring that the holder of e money can reconvert the value of e money into banknotes or scriptural money that confidence in e money as an effective and reliable substitute for coins and banknotes will be preserved .

They must be transferable in book entry form .

they must be transferable in book entry form ,

The eligibility of debt instruments issued under an issuance programme is assessed on the basis of an individual rating for each particular issue within that programme .

Official quotation or fixing a procedure whereby for each working day an official exchange rate for the domestic currency in terms of an established list of foreign currencies is fixed . Official fixings of foreign exchange rates do not take place in all Member States .

EMU see Economic and Monetary Union .

It is suggested that a definition of scriptural money should be established ( in the definitions article ) , bearing in mind that only central banks and credit institutions ( which include emoney institutions ) may hold such funds .

From this perspective , the ECB would like to suggest the introduction of the concept that electronic money represents a claim on the issuer of electronic money , which claim is redeemable in either legal tender or scriptural money , that is incorporated in an electronic medium , and accepted as an instrument of payment by ( non affiliated ) undertakings other than the issuing institution .

SEPA will allow customers to make non cash euro payments to any beneficiary located anywhere in the euro area using a single bank account and a single set of payment instruments .

SETTLEMENT PROCEDURES The debt instrument must be transferable in book entry form .

The debt instrument must be transferable in book entry form .

Settlement procedures The debt instrument must be transferable in book entry form .

SETTLEMENT PROCEDURES The debt instrument must be transferable in book entry form .

( 7 ) Money remittance services where the cash , scriptural money or electronic money is accepted by the payment service provider from the payment service user for the sole purpose of making a payment transaction and transferring the funds to the payee .

Money remittance services where the cash , scriptural money or electronic money is accepted by the payment service provider from the payment service user for the sole purpose of making a payment transaction and transferring the funds to the payee .

( ii ) Money remittance services where banknotes and coins , scriptural money or electronic money are accepted by the payment service provider from the payment service user for the sole purpose of making a payment transaction and transferring the funds to the payee .

It is now time to allow consumers to make cashless payments throughout the euro area from a single account under the same basic conditions , regardless of their location .

This having been achieved , the time has now come to allow consumers to make cashless payments throughout the euro area from a single account under the same basic conditions , regardless of their location .

In particular , there is still no harmonisation of cashless retail payments , which remain predominantly based on national schemes , while national retail payment clearing and settlement infrastructures remain segmented by country .

the exchange rate prevailing at the time of the transaction . The revaluation of foreign exchange assets and liabilities is performed on a currency by currency basis , including on balance sheet and off balance sheet instruments .

The revaluation of foreign exchange assets and liabilities is performed on a currencyby currency basis , including on balance sheet and off balance sheet instruments .

The revaluation of foreign exchange assets and liabilities is performed on a currency by currency basis , including on balance sheet and off balance sheet instruments .

Currency system The renminbi ( people's currency ) is the currency of China, denominated as the yuan, subdivided into 10 jiao or 100 fen.

The reports produced under Article 109j ( 1 ) by the European Commission and the EMI examine the achievement of a high degree of sustainable convergence by reference to the fulfilment by each Member State of these criteria as well as the above compatibility .

Foreign currency

Other liabilities

With agreed maturity

NonMFIs

Currency

E money .

Currency national

Households

Non MFIs

Currency national

Currency

Foreign exchange 5.4.1 Currency and deposits 5.4.1.1 .

Currency of issuance Definition The currency of issuance is defined as the currency denomination of the security .

In the CCBM , national central banks act as custodians for each other .

Gold is valued at the market price prevailing at the year end .

Purchases and sales of foreign currency affect the net foreign currency position on the trade date , rather than on the spot settlement date as was the case hitherto , and realised results arising from sales are also calculated on the trade date .

Banknotes and coins in circulation that are commonly used to make payments banknotes issued by the NCBs banknotes issued by other MFIs coins issued by the NCBs coins issued by the central government

The revaluation of foreign exchange assets and liabilities , including on balancesheet and off balance sheet instruments , is performed on a currency by currency basis .

The revaluation of foreign exchange assets and liabilities is performed on a currency bycurrency basis , including on balance sheet and off balance sheet instruments .