Examples of PPS Bank in a sentence
CNYB is a contracting agent with LCH as a Protected Payment Systems (PPS) Bank only.
The Clearing House will not be liable for any losses to Clearing Members or third parties caused by non-settlement or by a delay in settlement as a result of the actions or omissions of a Depository, Central Bank or PPS Bank or the Clearing Member (save for any liability which may not be excluded by Applicable Law).
Statuses reflect the status of the instruction at the Clearing House and not at the relevant Depository, Central Bank or PPS Bank.
On settlement of the relevant transaction at the relevant Depository, Central Bank or PPS Bank, the Clearing House will reflect the balance of the securities or cash on the relevant account of the Clearing Member and take them into account for the purposes of calculating the Clearing Member's Current Collateral Value.
For cash instructions via PPS, the details the Clearing Member inputs into the CMS will form the basis of the call or the SWIFT MT202 payment instruction sent to the relevant PPS Bank.
The Clearing House will update the status of an instruction in the CMS to reflect the status of the corresponding instruction at the relevant Depository, Central Bank or PPS Bank.
An instruction given by the Clearing House to a PPS Bank by means of a SWIFT message or other means to place at the disposal of the Clearing House (by crediting a nominated account of the Clearing House at a Concentration Bank) an amount of money to be debited from a nominated account held by the Clearing House at that PPS Bank shall be irrevocable at the time when the relevant PPS Bank confirms to the Clearing House that such payment will be made.
A Credit Member/Debit LCH transfer order shall be irrevocable at the time when the relevant PPS Bank sends a SWIFT confirmation message or otherwise confirms to the Clearing House that such payment will be made.
A Credit LCH/Debit Member transfer order shall be irrevocable at the time when the relevant PPS Bank sends a SWIFT confirmation message or otherwise confirms to the Clearing House that such payment will be made.
An instruction given by the Clearing House to a Concentration Bank by means of a SWIFT message or other means to place at the disposal of the Clearing House (by crediting a nominated account of the Clearing House at a PPS Bank) an amount of money to be debited from a nominated account held by the Clearing House at that Concentration Bank shall be irrevocable at the time when the Concentration Bank confirms to the Clearing House that such payment will be made.