Only payments made within the system are included .

Cash payments shall be made exclusively in euro.

Cash payments shall be made exclusively in euro .

Other payments may also be effected through Target .

Payments by Member State to EU budget 1B .

Other payments may also be effected through TARGET .

Other payments may also be effected through C1 TARGET .

Payments shall be made in the currency implicitly or explicitly agreed by the parties .

Transitional payments were made to departing members of the Executive Board .

This Directive will ensure that the same legal framework applies to all payments made within Europe .

Such credit transfers and cross border payments in general are still extremely expensive compared to payments at national level .

The remuneration referred to in the previous paragraph shall be settled by Target payments on a quarterly basis .

In countries where welfare payments are made largely in cash , these transactions were effected in low denominations .

The Regulation therefore applies to the majority of payments effected by consumers and SMEs .

( d ) actual cash receipts and payments shall be translated at the exchange rate on the day on which settlement occurs

This Directive will ensure that the same legal framework applies to all payments made within Europe .

TARGET must be used for all payments directly resulting from or made in connection with i. ii .

6.1 STATUS QUO REGARDING BANKS AND PAYMENT INSTITUTIONS A considerable share of payments are exchanged not via infrastructures , but bilaterally .

This Regulation lays down rules on cross border payments within the Community , ensuring that charges for those payments are the same as those for payments in the same currency within a Member State .

Moreover , banks frequently paid out low denomination euro banknotes over the counter .

It shall apply to cross border payments in euro up to EUR 50 000 within the Community .

Quick tender the tender procedure used by the Eurosystem for fine tuning operations .

( b ) reconciling daily payment traffic to detect mismatches between authorised and actual daily payment traffic , both sent and received

( c ) actual cash receipts and payments shall be translated at the mid market exchange rate on the day on which settlement occurs

( c ) income shall be recorded gross with refundable withholding and other taxes accounted for separately

The alignment of charges for all payments effected in the Single Currency will strengthen confidence of the European citizens in the euro .

This Regulation shall apply to cross border payments up to the amount of EUR 50 000 which are denominated in euro or in the currencies of the Member States referred to in Article 11 . This Regulation shall not apply to payments made by payment service providers for their own account .

The second part , in the next section , compares debt assumption with other payments made by the central government to the other resident sectors , and how they are reflected in accounting terms .

Under Article 2 ( 3 ) of the same Decision , this remuneration is settled by TARGET payments on a quarterly basis .

The insert name of CB shall make compensation payments on receipt of a participant 's letter of acceptance of compensation .

Transitional payments are made to former members of the Executive Board for a period after the end of their terms of office .

In SEPA , all euro payments are considered domestic and are made with one set of payment instruments .

Projections the results of exercises conducted by Eurosystem staff to project possible future macroeconomic developments in the euro area . Euro area projections are obtained in a way consistent with individual country projections .

Article 4 Arrangements for cross border payments effected via interlinking The provisions of this Article shall apply to the arrangements for crossborder payments effected or to be effected via interlinking .

In some cases , the ECB is even specified as the bank through which payments or transactions will be made .

FRAUD PREVENTION MEASURES For the contracts and agreements entered into by the Commission , payment is solely by results .

The insert name of CB shall make compensation payments on receipt of a participant 's letter of acceptance of compensation .

It currently applies to credit transfers , ATM cash withdrawals and electronic payments ( including card payments ) made in euro up to an amount of EUR 50 000 .

The objective is to enable cross border payments to be made from a single bank account throughout the euro area as easily and safely as domestic payments can be made .

European Council provides the European Union with the necessary impetus for its development and defines the general political guidelines thereof . It brings together the Heads of State or Government of the Member States and the President of the European Commission ( see also EU Council ) .

The Eurosystem 's vision for the SEPA , hence , is that all euro area payments should become domestic . They should be as safe and efficient as payments made through the best performing national payment systems today .

Rounding of payments , effected by a bank card or other payment cards , denominated in euro to the nearest five cent .

Since 1999 , some banks have improved their intrabank processes so as to be able to provide their customers with full STP for both incoming and outgoing payments . They have also automated the link to their customers and achieved a highly significant proportion of STP payments in a relatively short period of time6 .

Liquidity sharing rule ( or liquidity sharing agreement ) an agreement between participants in a clearing system regarding the allocation of any liquidity risk arising when one or more participants fail to fulfil their obligations the arrangement stipulates how the liquidity risk will be shared among the parties concerned in the event the agreement is activated .

If the level of charges for cross border payments in euro remains higher than the level of charges for internal payments , the confidence of consumers and businesses in the euro will be damaged .