The limit on the credit exposure which a payment system participant incurs vis-à-vis another participant (bilateral credit limit) or vis-à-vis all other participants (multilateral credit limit) as a result of receiving payments which have not yet been settled.
CREDIT LIMIT
Meaning of CREDIT LIMIT in English
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012