This implies that if the value , measured on a regular basis , of the underlying assets falls below a certain level , the national central bank will require the counterparty to supply additional assets or cash ( i.e. a margin call ) .

Zero coupon bond a security paying only one cash flow during its life .

Similarly , if the value of the underlying assets , following their revaluation , exceeds a certain level , the counterparty may retrieve the excess assets or cash .

Minimum size

Euro Minimum size

3 Minimum size of loans From 2007 to 2012 each NCB will apply a minimum size of its choice .

Minimum size At the time of submission for use as collateral ( mobilisation ) by the counterparty , the credit claim must meet a minimum size threshold .

Minimum size At the time of submission for use as collateral ( mobilisation ) by the counterparty , the credit claim must meet a minimum size threshold . In an interim period ( 1 January 2007 to 31 December 2011 ) , each Eligible assets

for cross border use common threshold of EUR 500 000 ( 4 ) . As from 1 January 2012 common minimum threshold of EUR 500 000 throughout the euro area .

Until then , BcL will apply a minimum threshold of EUR 1 000 000 .

Until then , BcL will apply a minimum threshold of EUR 1 000 000 .

Central banks . Public sector .

The minimum amount of any of the limits shall be EUR 1 million .

The Eurosystem uses repurchase agreements with a fixed maturity in its reverse transactions .

Instruments must be centrally deposited in book entry form with central banks or an SSS fulfilling the ECB 's minimum standards .

Similarly , if the value of the underlying assets , following their revaluation , exceeds a certain level , the counterparty may retrieve the excess assets or cash .

Zero coupon bond a security paying only one cash flow during its life .

Minimum size threshold at the time of submission of the credit claim Between 1 January 2007 and 31 December 2011 for domestic use choice of the NCB , for cross border use common threshold of EUR 500 000 ,

If these procedures are in place , defining a minimum amount for individual bank loans will lose relevance .

the date of the tender operation

Tender announcement

the date of the tender operation

The public tender announcement message normally contains the following information the reference number of the tender operation

In a variable rate tender with a minimum bid rate , banks may submit bids with several interest rates at or above the pre announced minimum bid rate .

MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM

Solvency risk the risk of loss owing to the failure ( bankruptcy ) of an issuer of a financial asset or to the insolvency of the counterparty .

Standing facility a central bank facility available to counterparties at their own initiative .

Solvency risk the risk of loss owing to the failure ( bankruptcy ) of an issuer of a financial asset or to the insolvency of the counterparty .

This positive assessment on clear signalling has also been valid for the variable rate tender procedure with a minimum bid rate applied as from June 2000 .

Standard tender a tender procedure used by the Eurosystem in its regular open market operations . Standard tenders are carried out within a time frame of 24 hours .

MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM

16 Expressed as such or in the national denominations of the euro . 17 Between 1 January 2007 and 31 December 2011 , an intermediate regime will be in place for credit claims , allowing each national central bank to choose the minimum threshold for the size of credit claims eligible for collateral purposes ( apart from crossborder use ) and whether a handling fee should be applied .

MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM MINIMUM ( 2 ) MINIMUM ( 2 )

the reference number of the tender operation

For crossborder use , a common minimum threshold of EUR 500 000 is applicable in the interim period ( 17 ) .

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The public tender result message normally contains the following information the reference operation number of the tender

3.30 p.m. Tender announcement

The most competitive bids are satisfied with priority until the total amount of liquidity to be provided or withdrawn by the central bank is exhausted . Tier one asset a marketable asset fulfilling certain uniform euro area wide eligibility criteria specified by the ECB .

AAR AAR , amount AAR , amount AAR , amount AAR AAR AAR AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount

Tender procedures

( 17 ) The Banque centrale du Luxembourg ( BcL ) will apply the common minimum threshold for cross border use as from 1 January 2008 at the latest .

MINIMUM MINIMUM MINIMUM

the date of the tender operation

Repurchase agreement an arrangement whereby an asset is sold while the seller simultaneously obtains the right and obligation to repurchase it at a specific price on a future date or on demand . Such an agreement is similar to collateralised borrowing , with the difference that ownership of the securities is not retained by the seller .