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| Definition Of: |
direct participant in an IFTS
A participant in an Interbank Funds Transfer System (IFTS) which is responsible to the settlement agent (or to all other direct participants) for the settlement of its own payments, those of its customers, and those of the indirect participants on whose behalf it is settling. See also: indirect participant/member interbank funds transfer system (IFTS)
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.
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European Central Bank Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 A: Page 1 of 2.
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