or ( b ) another credit institution within the meaning of Article 101 ( 2 ) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority , --- « credit instruction » means a payment instruction submitted by an AS and addressed to the ASCB to debit one of the accounts kept and / or managed by the AS in the PM , and to credit a settlement bank 's PM account or subaccount by the amount specified therein , --- « credit transfer order » means an instruction by a payer to make funds available to a payee by means of a book entry on a PM account , --- « debit instruction » means a payment instruction addressed to the SCB and submitted by an AS to debit a settlement bank 's PM account or sub-account by the amount specified therein , on the basis of a debit mandate , and to credit either one of the AS 's accounts in the PM or another settlement bank 's PM account or sub-account , --- « direct debit authorisation » means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer 's account upon a direct debit instruction from a payee , --- « direct debit instruction » means an instruction from a payee submitted to its CB pursuant to which the CB of the payer debits the payer 's account by the amount specified in the instruction , on the basis of a direct debit authorization , --- « debit mandate » means an authorisation by a settlement bank in the form provided by the Eurosystem CBs in the static data forms addressed to both its AS and its SCB , entitling the AS to submit debit instructions , and instructing the SCB to debit the settlement bank 's PM account or subaccount as a result of debit instructions , --- « entry disposition » means a payment processing phase during which TARGET2-ECB attempts to settle a payment order which has been accepted pursuant to Article 12 , by means of specific procedures , as described in Article 18 , --- « Eurosystem CB » means the ECB or the NCB of a Member State that has adopted the euro , --- « event of default » means any impending or existing event , the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB , including : ( a ) where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6 ( 1 )( i ) ;
or ( b ) another credit institution within the meaning of Article 101 ( 2 ) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority , --- « credit instruction » means a payment instruction submitted by an AS and addressed to the ASCB to debit one of the accounts kept and / or managed by the AS in the PM , and to credit a settlement bank 's PM account or subaccount by the amount specified therein , --- « credit transfer order » means an instruction by a payer to make funds available to a payee by means of a book entry on a PM account , --- « debit instruction » means a payment instruction addressed to the SCB and submitted by an AS to debit a settlement bank 's PM account or sub-account by the amount specified therein , on the basis of a debit mandate , and to credit either one of the AS 's accounts in the PM or another settlement bank 's PM account or sub-account , --- « direct debit authorisation » means a general instruction by a payer to its CB entitling and obliging that CB to debit the payer 's account upon a direct debit instruction from a payee , --- « direct debit instruction » means an instruction from a payee submitted to its CB pursuant to which the CB of the payer debits the payer 's account by the amount specified in the instruction , on the basis of a direct debit authorization , --- « debit mandate » means an authorisation by a settlement bank in the form provided by the Eurosystem CBs in the static data forms addressed to both its AS and its SCB , entitling the AS to submit debit instructions , and instructing the SCB to debit the settlement bank 's PM account or sub-account as a result of debit instructions , --- « entry disposition » means a payment processing phase during which TARGET2-ECB attempts to settle a payment order which has been accepted pursuant to Article 12 , by means of specific procedures , as described in Article 18 , --- « Eurosystem CB » means the ECB or the NCB of a Member State that has adopted the euro , --- « event of default » means any impending or existing event , the occurrence of which may threaten the performance by a participant of its obligations under these Conditions or any other rules applying to the relationship between that participant and the ECB or any other CB , including : ( a ) where the participant no longer meets the access criteria laid down in Article 4 or the requirements laid down in Article 6 ( 1 )( i ) ;