DIRECT PARTICIPANT IN AN IFTS


Meaning of DIRECT PARTICIPANT IN AN IFTS in English

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:

European Central Bank English Glossary.      Английский глоссарий Европейского Центрального Банка.