ECB The implementation of monetary policy in the euro area November 2008 Glossary

However , only a minority of the wholesale foreign exchange transactions involving the euro are settled in CLS .

B Transaction costs costs that are identifiable as related to the specific transaction .

Prior to the introduction of the CLS , each side of a trade was paid separately .

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

Here , R 0MBR is the minimum bid rate of the MRO settled on 16 December 2009 , while R tMBR , t 1 ,...

If the payment order is not settled , the participant 's requests shall be taken into account immediately .

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

If the payment order is not settled , the participant 's requests shall be taken into account im mediately .

The company was liquidated and all assets transferred to Gies and Company, headed by Jan Gies.

In 2009 the lowest number of counterparties ( 109 ) to participate in an MRO was recorded in the operation that was settled on 23 December , and the lowest MRO volume ( Euros 46 billion ) was allotted in the operation that was settled on 4 November .

On Wednesday 5 January 2000 a fine tuning operation was settled , which absorbed EUR 14.4 billion .

However , the issuance of ECB debt certificates is settled on the second day following the trade day on which TARGET2 and all relevant SSSs are open .

Extended Custodial Inventory ( ECI ) programme a programme which consists of a depot outside the euro area managed by a commercial bank in which euro banknotes are held in custody on behalf of the Eurosystem for the supply and receipt of euro banknotes .

If the payment order concerned is settled while the algorithm is running , any request to reorder or revoke shall be rejected .

Delivery versus payment or delivery against payment system a mechanism in an exchangefor value settlement system which ensures that the final transfer of assets ( securities or other Glossary

On Wednesday 24 November 1999 a main refinancing operation of EUR 74 billion matured and a new one of the same amount was settled .

In derogation from the previous paragraph , for the financial year 2002 , the remuneration referred to in paragraph 2 shall be settled at the end of the year .

The Governing Council also decides to change the maturity of the longer term refinancing operation scheduled to be settled on 30 September 1999 .

In addition , access to the marginal lending facility is only granted to counterparties with access to an account with the NCB where the transaction can be settled , for example in the single shared platform of TARGET2 .'

On Wednesday 29 September 1999 a main refinancing operation of EUR 61 billion matured and a new one of EUR 55 billion was settled .

On Wednesday 10 November 1999 a main refinancing operation of EUR 74 billion matured and a new one of the same amount was settled .

On Wednesday 25 August 1999 a main refinancing operation of EUR 68 billion matured and a new one of EUR 86 billion was settled .

On Wednesday 22 September 1999 a main refinancing operation of EUR 82 billion matured and a new one of EUR 92 billion was settled .

On Wednesday 8 September 1999 a main refinancing operation of EUR 86 billion matured and a new one of EUR 82 billion was settled .

On Wednesday 15 September 1999 a main refinancing operation of EUR 66 billion matured and a new one of EUR 61 billion was settled .

On Wednesday 22 December 1999 a main refinancing operation of EUR 92 billion matured which was replaced by a new one of the same amount .

On Wednesday 1 September 1999 a main refinancing operation of EUR 73 billion matured and a new one of EUR 66 billion was settled .

The payment instruction is settled by debiting the amount indicated in the payment instruction from the mirror account used by the AS initiating the payment instruction and crediting the mirror account used by another AS .

The payment instruction is settled by debiting the amount indicated in the payment instruction from the mirror account used by the AS using the integrated model and crediting the sub account of a participant of another AS .

The payment instruction is settled by debiting the amount indicated in the payment instruction from the sub account of a participant of the AS initiating the payment instruction and crediting such amount to the sub account of a participant of another AS .

The payment instruction is settled by debiting the amount indicated in the payment instruction from the mirror account used by the AS initiating the payment instruction and crediting such amount to the mirror account used by another AS .

On Wednesday 20 October 1999 a main refinancing operation of EUR 90 billion matured and a new one of EUR 75 billion was settled .

On Wednesday 14 July 1999 a main refinancing operation of EUR 57 billion matured and a new one of EUR 53 billion was settled .

On Wednesday 13 October 1999 a main refinancing operation of EUR 55 billion matured and a new one of EUR 50 billion was settled .

On Thursday 28 October 1999 a main refinancing operation of EUR 50 billion matured and a new one of EUR 74 billion was settled .

Correspondingly , the longer term refinancing operation which was originally scheduled to be announced on 27 December 1999 and to be allotted and settled on 30 December 1999 will be announced on 21 December , allotted on 22 December and settled on 23 December 1999 .

On Wednesday 21 July 1999 a main refinancing operation of EUR 95 billion matured and a new one of EUR 94 billion was settled .

On Wednesday 6 October 1999 a main refinancing operation of EUR 92 billion matured and a new one of EUR 90 billion was settled .

On Wednesday 28 July 1999 a main refinancing operation of EUR 53 billion matured and a new one of EUR 73 billion was settled . 2

On Wednesday 18 August 1999 a main refinancing operation of EUR 68 billion matured and a new one of EUR 73 billion was settled .

On Wednesday 7 July 1999 a main refinancing operation of EUR 86 billion matured and a new one of EUR 95 billion was settled .

On Wednesday 3 November 1999 a main refinancing operation of EUR 75 billion matured and a new one of EUR 66 billion was settled .

After new coach Fabio Capello took over the team in early 2008, Gerrard was given a trial run as captain but Capello settled on Terry for the role.

The payment instruction is settled by debiting the amount indicated in the payment instruction from the sub account of a participant of the AS initiating the payment instruction and crediting the sub account of a participant of another AS .