ELMIs must , therefore , be legally obliged to redeem e money for central bank money at par value at the request of the holder of the e money .

From an MFI creditor 's point of view , securitisation usually involves a sale of the loans for cash , i.e. the MFI receives cash from the debtor in repayment of a loan .

Statistical treatment From the point of view of a creditor MFI , securitisation usually involves a sale of the loans for cash the MFI receives cash from the debtor in repayment of a loan .

Procedural rules

In cases where the loans are securitised , the MFI creditor accepts either cash or ( temporarily ) the new securities issued by the debtor in repayment of the loan .

In cases where the loans are securitised , the MFI creditor accepts either cash or temporarily accepts the new securities issued by the debtor in repayment of the loan .

3 The details of such a redeemability requirement have yet to be specified . ( To avoid burdensome procedures , one may , for example , consider imposing a fee or a threshold on minimum amounts before redemption can be demanded by the holder of the electronic money instrument .

Redemption of the full amount should always be free of charge . Partial redemption may generate some costs to the issuer .

End date

End date Interest rate

He impatiently asked for repayment.

How do we ensure that unlawful state aid is paid back?

Tom got a tax refund.

I'm expecting a full refund.

This repayment is financed by the debtor issuing securities .

We need the money.

16 Interest under the facility is payable with the repayment of the credit .

3 Interest under the facility is payable with the repayment of the credit .

Interest under the facility is payable with the repayment of the credit .

Interest under the facility is payable with the repayment of the credit .

The operation involves the creditor MFI being repaid the original loan by the debtor .

5 , 6 Interest under the facility is payable with the repayment of the credit .

Repayment of loans Net ( S3 ) Stock ( S2 ) Stock Stock Flow If gross flow data available

I'm tired of hearing about money, money, money, money, money, O'Neal said after the signing.

No fees shall be payable by the payer in the event of a claim for a refund .

11 Interest under the facility is payable with the repayment of the credit .

We need the money.

I needed the money.

He needed the money.

They need the money.

They needed the money.

Tom needs the money.

Tom needed the money.

Chart 2 The mobilisation of French private claims and the redemption of credit

Economic sense The operation involves the creditor MFI being repaid the original loan by the debtor .

The debtor finances this repayment of the loan out of the proceeds arising from the issue of securities ( 2 ) .

The debtor finances this loan repayment out of the proceeds arising from the securities issue ( 1 ) .

Reduction of payout delay The ECB welcomes the intention to reduce delays in payouts of guaranteed deposits significantly and thereby strengthen depositors confidence ( 6 ) .

Some of the money was stolen.

Money doesn't fall out of the sky.

Some of my money has been stolen.

Where's the rest of the money?

I need Tom's money.

Tom took half of the money.

Since the start of Stage Three of EMU , the CCBM has been the main instrument in the cross border use of collateral and it is increasingly being employed .