17.6.2022
EN
Official Journal of the European Union
L 163/185
(51) ‘reachable party’ means an entity which: (a) holds a Business Identifier Code (BIC); (b) is designated as such by a TIPS DCA holder or by an ancillary system holding a TIPS AS technical account; (c) is a correspondent, customer, or branch of a TIPS DCA holder or a participant of an ancillary system; or is a correspondent, customer, or branch of a participant of an ancillary system holding a TIPS AS technical account and (d) is addressable through TIPS and is able to submit cash transfer orders and receive cash transfer orders either via the TIPS DCA holder or by an ancillary system holding a TIPS AS technical account, or directly if so authorised by the TIPS DCA holder or by an ancillary system holding a TIPS AS technical account; (52) ‘Real-time gross settlement ancillary system settlement procedure’ (RTGS AS settlement procedure) means one of the range of special, predefined services for the submission and settlement of AS transfer orders related to settlement of AS on RTGS DCAs, sub-accounts and RTGS AS technical accounts; (53) ‘Real-time gross settlement ancillary system technical account’ (RTGS AS technical account) means an account held by an AS or by the CB in its TARGET component system on behalf of the AS and used in the context of an RTGS AS settlement procedure; (54) ‘recall request’ means a message from an RTGS DCA holder or a TIPS DCA holder requesting reimbursement of a settled payment order or instant payment order respectively; (55) ‘rule-based liquidity transfer order’ means a liquidity transfer order that is triggered as a result of: (a) the balance on an MCA or RTGS DCA breaching a pre-defined floor or ceiling; or (b) insufficient funds being available to cover queued urgent payment orders, AS transfer orders or high priority payment orders on an RTGS DCA; (56) ‘settlement bank account group’ means a list of RTGS DCAs and/or sub accounts set in the context of the settlement of an ancillary system using RTGS AS settlement procedures; (57) ‘settlement bank’ means an RTGS DCA holder whose RTGS DCA or sub-account is used to settle AS transfer orders submitted by an AS using the RTGS AS settlement procedures; (58) ‘suspension’ means the temporary freezing of the rights and obligations of a participant for a period of time to be determined by the participant’s CB; (59) ‘TARGET account’ means any account opened in a TARGET component system; (60) ‘TARGET component system’ means any of the CBs’ systems that form part of TARGET; (61) ‘TARGET coordinator’ means a person appointed by the ECB to ensure the daily operational management of TARGET, to manage and coordinate activity in the event of an abnormal situation occurring and to coordinate the dissemination of information to participants; (62) ‘TARGET Instant Payment Settlement (TIPS) ancillary system settlement procedure’ (TIPS AS settlement procedure) means the predefined service for the submission and settlement of liquidity transfer orders and instant payment orders related to settlement of AS on TIPS DCAs and TIPS AS technical accounts; (63) ‘TARGET Instant Payment Settlement (TIPS) ancillary system technical account’ (TIPS AS technical account) means an account held by an AS or by the CB in its TARGET component system on behalf of the AS for use by the AS for the purpose of settling instant payments or near instant payments in its own books; (64) ‘TARGET settlement manager’ means a person appointed by a Eurosystem CB to monitor the operation of its TARGET component system; (65) ‘TARGET2-Securities’ (T2S) means the set of hardware, software and other technical infrastructure components through which the Eurosystem provides the services to CSDs and Eurosystem CBs that allow core, neutral and borderless settlement of securities transactions on a delivery-versus-payment basis in central bank money; (66) ‘technical malfunction of TARGET’ means any defect or failure in the technical infrastructure and/or the computer systems used by the relevant TARGET component system, or any other event that makes it impossible to execute and complete the processing of cash transfer orders according to the relevant parts of this Guideline in the relevant TARGET component system.