settlement bank agent
- "An agent is a direct participant in TARGET2 appointed by a settlement bank within the securities settlement system (SSS) that does not have a direct account in TARGET2 (in the context of the French market, one also uses the term PR for Participant de Règlement, in order to indicate the Settlement bank agent).An entity that(i) holds an RTGS cash account with a central bank participating in TARGET2; and(ii) has agreed to act as settlement bank agent for one or more settlement banks in accordance with Section 5.2.9 of the Terms and Conditions which contains the terms that are common to all Euroclear CSDs."
Euroclear glossary. 2008.
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