auto-collateralisation definition
auto-collateralisation means intraday credit granted by the euro area NCB in central bank money triggered when a T2S DCA holder has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow), or with securities held by the T2S DCA holder in favour of the euro area NCB (collateral on stock). An auto collateralisation transaction consists of two distinct transactions, one of the granting of auto-collateralisation, one for its reimbursement and may also include a third transaction for any eventual collateral relocation. For the purposes of Article 16 in Part C, all three transactions are deemed to have been entered into the system, and deemed to be irrevocable, at the same time as the transaction for the granting of the auto-collateralisation;
auto-collateralisation means intraday credit granted by the euro area national central bank (NCB) in central bank money triggered when a DCA holder has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow), or with securities held by the DCA holder in favour of the euro area NCB (collateral on stock),
auto-collateralisation means intraday credit granted by a euro area NCB in central bank money and triggered when a Participant has insufficient funds to settle securities transactions, whereby such intraday credit is collateralised either with the securities being purchased (collateral on flow) or with securities already held by the Participant (collateral on stock);
More Definitions of auto-collateralisation
auto-collateralisation means intraday credit granted by the euro area national central bank (NCB) in central bank money triggered when a
auto-collateralisation means auto-collateralisation as defined in Article 2, point (7), of Guideline (EU) 2022/912 of the European Central Bank (ECB/2022/8) (3);
auto-collateralisation means intraday credit granted by the euro area NCB in central bank money triggered when a T2S DCA holder has insufficient funds to settle
auto-collateralisation means auto-collateralisation as defined in Article 2, point (7), of Guideline (EU)