PM account definition

PM account means an account held by a TARGET2 participant in the PM with a CB which is necessary for such TARGET2 participant to:

PM account means a PM account held by a TARGET2 participant, as defined in the Guideline of the European Central Bank (ECB/2007/2) of 26 April 2007;

PM account means an account held by a ►M3 PM account holder ◄ in the PM with a Eurosystem CB which is necessary for such ►M3 PM account holder ◄ to:

Examples of PM account in a sentence

• If this is not the case, only the liquidity available on the PM account shall be reserved.

• Each participant’s PM account shall be identified by an eight- or 11-digit SWIFT BIC.

• Notwithstanding the above, the bilateral PM account relationship between the AL group member and its AL NCB shall continue to be governed by the arrangements of the relevant TARGET2 component system, subject to the modifications set out in the AL agreement.

• Intraday credit extended to any AL group member on its PM account may be covered by the available liquidity on the other PM accounts held by such AL group member or PM accounts held by any other AL group members with the same or any other AL NCB.

• A participant using internet based access cannot be designated as a Main PM account holder.

• Aggregation of liquidity enables the AL group members to settle payment orders for an amount exceeding the available liquidity on one PM account, provided that the total value of all such payment orders never exceeds the aggregate amount of the available liquidity on all PM accounts of the AL group members.

• Limits shall not be set in relation to either a single PM account of an AL group member or by AL group members in relation to each other.

• Participation pursuant to these Conditions shall not create a contractual relationship between PM account holders and the SSP-providing NCBs when any of the latter acts in that capacity.

• The holder of the Linked PM account shall be charged the following fees for the TIPS service connected with the TIPS DCAs linked to that PM account.

• The holder of a Linked PM account shall have an overview of the liquidity available on the TIPS DCAs linked to that PM account and ensure the TIPS DCA holders are aware of their responsibility to manage that liquidity.

More Definitions of PM account

PM account means an account held by a PM account holder in the payments module with a CB which is necessary for such TARGET2 participant to:

PM account means an account held by a TARGET2 participant in the PM with a CB which is necessary for such TARGET2 participant to: (a) submit payment orders or receive payments via TARGET2; and (b) settle such payments with such CB;

PM account means a central bank account held by (direct) TARGET2 participants in the payments module (PM) in order to:

PM account or “Payments Module account” means an account held by a TARGET2 participant in the Payments Module in the Single Shared Platform with a Eurosystem central bank which is necessary for such TARGET2 participant to (a) submit payment orders or receive payments via TARGET2 and (b) settle such payments with such central bank;

PM account means an account held by a TARGET2 participant in the PM with a CB which is

PM account the account held by a participant to the TARGET2 settlement system at its responsible central bank and used for the settlement in the TARGET2 system;