Liquidity transfer orders initiated via the ICM are urgent payment orders .

execution of payment transactions through a payment card or a similar device

execution of payment transactions through a payment card or a similar device

Quick tenders are executed within a time frame of one hour and are restricted to a limited set of counterparties .

Variable rate issues include all coupon paying issues where the coupon or principal is periodically re fixed by reference to an independent interest rate or index .

Primary balance government net borrowing or net lending excluding interest payments on consolidated government liabilities .

Article 13 Types of payment orders The following are classified as payment orders for the purposes of TARGET2 ( a ) credit transfer orders

Transfer of title is established by way of assignment ( cessie ) .

Transfer of title is established by way of assignment ( cessie ) . For the deed of assignment to be legally enforceable , the debtor must be notified of its existence .

S E PA PAY M E N T I N S T R U M E N T S The EPC has defined two new payment schemes the SEPA credit transfer and SEPA direct debit schemes as well as a SEPA card framework .

Official Journal of the European Union TABLE 7 Participation in selected interbank funds transfer systems ( ) Items Non TARGET payment system Refer to list of payment systems

Official Journal of the European Union execution of payment transactions through a payment card or a similar device

The changeover for non cash transactions

In a credit transfer , a payment instruction is sent to the payer 's bank ( i.e. the sender 's bank ) , which moves the funds to the payee 's bank ( i.e. the receiver 's bank ) , possibly via several intermediaries .

Settlement date the date on which a transaction is settled . The settlement might take place on the same day as the trade ( same day settlement ) or one or several days after the trade ( the settlement date is specified as the trade date ( T ) the settlement lag ) .

not applicable 6.1 CAN THE PROJECT BE FINANCED BY TRANSFER BETWEEN CHAPTERS OF THE CURRENT BUDGET ?

Radiation from the sun, or solar radiation, can be harvested for heat and power.

Securities settlement system ( SSS ) a system which permits the holding and transfer of securities , either free of payment or against payment ( delivery versus payment ) or against another asset ( delivery versus delivery ) .

( 3 ) Execution of payment transactions , including transfer of funds , where the funds are held on deposit in a payment account with the user 's payment service provider or with another payment service provider execution of direct debits , including one off direct debits

( iii ) Execution of payment transactions , including transfer of funds , where the funds are held on deposit in a payment account with the user 's payment service provider or with another payment service provider execution of direct debits , including one off direct debits

Execution of payment transactions , including transfer of funds , where the funds are held on deposit in a payment account with the user 's payment service provider or with another payment service provider ( 4 ) execution of direct debits , including one off direct debits

Settlement date the date on which a transaction is settled . The settlement might take place on the same day as the trade ( same day settlement ) or can occur one or several days after the trade ( the settlement date is specified as the trade date ( T ) the settlement lag ) .

Payments processed by selected interbank funds transfer systems number of transactions ( ) Items Non TARGET payment system ( Refer to list of payment systems ) TARGET component LVPS ( 1 ) ( reported separately for each LVPS 1 , 2 ) Retail system ( Reported separately for each retail payment system 1 , 2 , 3 , 4 )

TABLE 9 Payments processed by selected interbank funds transfer systems value of transactions ( ) Items Non TARGET payment system ( Refer to list of payment systems ) TARGET component LVPS ( Reported separately for each LVPS 1 , 2 ) Retail system ( Reported separately for each retail payment system 1 , 2 , 3 , 4 )

Settlement date the date on which a transaction is settled . The settlement might take place on the same day as the trade ( same day settlement ) or can occur one or several days after the trade ( the settlement date is specified as the trade date ( T ) the settlement lag ) .

For the purpose of defining substitutability for deposits in the previous paragraph transferability refers to the possibility of mobilising funds placed in a financial instrument by using payment facilities , such as cheques , transfer orders , direct debits or similar means

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Chapter IV Obligations for intermediary payment service providers Article 12 Retaining information on the payer with the transfer Intermediary payment service providers shall ensure that all received information on the payer that accompanies a transfer of funds is retained with the transfer .

Start date the date on which the first leg of a monetary policy operation is settled . The start date corresponds to the purchase date for operations based on repurchase agreements and foreign exchange swaps .

letters , numbers or symbols , determined by the payment service provider , in accordance with the protocols of the payment and settlement system or messaging system used to effect the transfer .

An initial payment was made by the NCBs as at 1 June 1998 in the form of a transfer of their claims on the ECB relating to the repayment of contributions to the resources of the EMI , to the extent possible or necessary to meet the amounts falling due .

Securities settlement system a system which permits the transfer of securities either free of charge or against payment . 1

EMS ( European Monetary System ) established in 1979 in accordance with the Resolution of the European Council on the establishment of the EMS and related matters of 5 December 1978 .

Insurance corporations and pension funds comprise non monetary financial corporations and quasi corporations principally engaged in financial interme diation as a consequence of the pooling of risks ( ESA 95 , paragraphs 2.60 2.67 ) .

In order to promote co ordination of the policies of Member States to the full extent needed for the functioning of the internal market , Article 109c of the Treaty lists a set of areas where the Monetary Committee was to contribute to the preparation of the work of the EU Council . At the start of Stage Three of EMU the Monetary Committee was dissolved and the Economic and Financial Committee established .

Loans are funds lent by reporting agents to borrowers that are not evidenced by documents or are represented by a single document ( even if it has become negotiable ) .

( EUR ) Share paid up on 30 April 2004 Share paid up from 1 May 2004 Amount of transfer payment ( EUR )

This shall be accom plished by the transfer of ownership of the securitised assets from the originator or through sub participation .

and ii ) the payment needs to be processed through a net settlement system .

COUNTERPARTY' S POSITION IN THE TARGET PAYMENT ( Please tick as appropriate ) SENDING RECEIVING 2.5 .

Settlement agent an institution that manages the settlement process ( e.g. the determination of settlement positions , monitoring the exchange of payments , etc .) for transfer systems or other arrangements that require settlement . Settlement risk a general term used to designate the risk that settlement in a transfer system will not take place as expected .

the accessing and operation of payment systems for the purposes of transferring , clearing and settling funds , including any instruments and procedures relating to the systems .

Appendix IA TECHNICAL SPECIFICATIONS FOR THE PROCESSING OF PAYMENT ORDERS FOR INTERNET BASED ACCESS In addition to the Conditions , the following rules shall apply to the processing of payment orders using Internet based access 1 .

If , in the case referred to in paragraph 1 , an intermediary payment service provider does not receive complete information on the payer , it shall inform the payment service provider of the payee accordingly , when transferring the funds .

cash refunds provided by the payee to the payer after a payment transaction following an explicit request by the payment service user made just before the execution of a payment transaction through a payment card and completely independent of the cost of the good or services purchased