SIPS operator definition

SIPS operator means the legal entity legally responsible for operating a SIPS;
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Examples of SIPS operator in a sentence

  • A SIPS operator shall use or accommodate, relevant internationally accepted communication procedures and standards in order to facilitate efficient payment, clearing, settlement and recording.

  • A SIPS operator using a payment versus payment mechanism shall eliminate principal risk by ensuring that the final settlement of one obligation occurs if and only if the final settlement of the linked obligation also occurs.

  • The competent authority shall have the right to obtain from a SIPS operator all information and documents necessary to assess compliance with the requirements under this Regulation.

  • A SIPS operator shall establish rules and procedures to enable final settlement to take place no later than the end of the intended settlement date.

  • The SIPS operator shall be prepared to demonstrate to the competent authority, based on an adequate internal assess­ ment, that the commercial bank is creditworthy.

  • A SIPS operator shall report the respective specific infor­ mation to the competent authority.

  • The difficulty comes from the fact that the criminals themselves do not show up in the database, so there are no digital footprints available for these scammers.

  • The SIPS operator shall be prepared to demonstrate to the competent authority, based on an adequate internal assessment, that the commercial bank is creditworthy.

  • The competent authority may require the SIPS operator to appoint an independent expert in accordance with Article 4 to conduct an investigation, if it considers that it is necessary to achieve the objectives set out in Regulation (EU) No 795/2014 (ECB/2014/28).

  • A SIPS operator shall ensure that final settlement takes place no later than the end of the intended settlement date.

Related to SIPS operator

  • train operator means any person who is authorised to act as the operator of a train by a licence under section 8 of the Railways Act 1993.

  • Non-Operator means a Party other than the Operator;

  • Storage operator means a person holding or applying for a permit.

  • Operator means the operator of an internet website, online service, online application, or mobile application with actual knowledge that the site, service, or application is used for K–12 school purposes. Any entity that operates an internet website, online service, online application, or mobile application that has entered into a signed, written agreement with an LEA to provide a service to that LEA shall be considered an “operator” for the purposes of this section.

  • Network Operator means the company licensed to operate the electricity distribution network in your area.