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:
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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;
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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:
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Examples of PM account in a sentence

  • In the case of credit balances, the booking can be executed directly on the settlement bank's PM account, if the Ancillary System has indicated it within the respective transaction.

  • The amounts mentioned in the previous paragraph, are automatically inputted in the PM account held in the TARGET2 settlement system by the Counterparty or by the Settlement Agents mentioned in the Article 9, paragraph 1 of this Agreement.

  • For the purposes of this paragraph, the taking of resolution action within the meaning of Directive 2014/59/EU of the European Parliament and of the Council6 against a PM account holder shall not automatically qualify as the opening of insolvency proceedings.

  • PM account holders may close their PM accounts at any time provided they give the BANQUE DE FRANCE 14 business days’ notice thereof.

  • Credit institutions established in the EEA may each enter into a contract with one PM account holder that is either a credit institution within the meaning of Article 4(1)(a) or (b), or a CB, in order to submit payment orders and/or receive payments, and to settle them via the PM account of that PM account holder.


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:
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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;
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PM account means a central bank account held by (direct) TARGET2 participants in the payments module (PM) in order to:
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PM account means an account held by a TARGET participant in the payments module with a CB which is necessary for such TARGET participant to:
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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;
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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;
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PM account means an account held by a TARGET2 participant in the PM with a CB which is
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