4CB definition

4CB means the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d’Italia, collectively, in their capacity as national central banks (NCBs) responsible for build- ing, maintaining and running the T2S Platform based on the rel- evant contractual arrangements and on decisions of the Govern- ing Council. ‘Access Criteria’ means the access criteria for Central Securities Depositories (CSDs) wishing to use the T2S Services, as set out in Article 15 of Guideline ECB/2010/2. These are also referred to as the eligi- bility criteria, as adopted by the ECB Governing Council on 14 January 2010. ‘Advisory Group (AG)’ means the T2S Advisory Group, the mandate and composition of which is set out in the Annex to Guideline ECB/2010/2. ‘Affiliate’ means a legal entity which, with respect to any person, directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with the person in question. For the purposes of this definition, ‘control’ means the possession, directly or indirectly, of more than 50% of the equity interests of a person or the power to direct or cause the direction of the management and policies of a person, in whole or in part, whether through ownership of voting interests, by contract or otherwise. ‘Agreement’ or‘Framework Agreement (FA)’ means the contractual arrangement composed of a core agree- ment, including Schedules and Annexes, between a Contracting CSD and the Eurosystem. ‘Agreement Date’ means the date on which both contracting parties signed this Agreement. ‘Annex’ means an Annex to one of the Schedules of this Agreement. ‘Application-to-Application (‘A2A’)’ means a connectivity mode to exchange information between the T2S software application and the application at the T2S Actor. ‘Arbitration’ has the meaning set out in Article 43 of this Agreement.

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Examples of 4CB in a sentence

• The development and operation of T2S is performed by the 4CB, by an Affiliate of the 4CB, or by one or more euro area NCBs belonging to the 4CB, as part of an internal distribution of work within the Eurosys- tem and is not to be considered as assigning, transferring, outsourcing or subcontracting within the meaning of this Article.

• The Eurosystem agrees to ensure that the 4CB will make their premises available to the Network Service Provider to allow the Network Service Provider to install the aforementioned equipment and to maintain such equipment at such premises during the term of this Contract (the "4CB Hosting") in accordance with Attachment 1.3. The Network Service Provider agrees to adhere to and comply with the Hosting Terms and Conditions set out in Attachment 1.3.

• No such consent is needed if the Third Party is an Affiliate of one or more of the 4CB and if the rights and obli- gations of the Parties remain materially unchanged.

• The Banca d’Italia would be responsible for correctly conducting the selection procedure and its specific liability related to the selection procedure would be separate from the liability assumed by the 4CB under the Level 2-Level 3 agreement.

• The Network Service Provider shall, in particular, install certain equipment (more specifically described in the Specifications) in the premises of the 4CB.

• The development and operation of T2S is performed by the 4CB or by an Affiliate of the 4CB or by one or more Euro Area NCBs pertaining to the 4CB, as part of an internal distribution of work within the Eurosystem and is not to be considered as outsourcing, subcontracting, assigning or transferring within the meaning of this Article.

• Outsourcing and subcontracting within the meaning of this Article do not include the procurement of services and/or components necessary for the 4CB to build, upgrade and maintain T2S and the procurement of services by the Eurosystem, and therefore no consent of the [NCB] is needed.

• The PMG substructure shall be composed of the Signatory CSDs, euro area NCBs, non- euro area NCBs in T2S, the 4CB and the ECB.

• The CSG Chairperson may invite other observers on an ad-hoc basis (e.g. one representative of the 4CB) and may restrict the participation of observers representing Users on an ad hoc basis; the T2S Board Chairperson is informed of such decisions in advance.

• No such consent is needed if the Third Party is an Affiliate of one or more of the 4CB and if the rights and obligations of the Parties remain materially unchanged.