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English to Hungarian translations [PRO]
Bus/Financial - Finance (general) / Credit management Policy | | English term or phrase: Operational safe custody accounts | | accounts run by the central bank in which credit institutions can place securities which are eligible as collateral for central bank operations. The securities held on these accounts are ultimately deposited with the CSD under the name of the NCB, so that the transfer to a safe custody account results in a transfer between the bank’s and the NCB’s account with the CSD. The securities deposited with the NCB are generally pledged to the NCB as collateral for (interest-bearing) overnight and (interest-free) intraday credit. They can also be used for open market transactions (repos) based on general authorisation given to the NCB to acquire securities |
| Sarah AgostonKudoZ activityQuestions: 109 ( 2 open) ( 1 without valid answers) ( 1 closed without grading) Answers: 0
Hungary
| | Local time: 04:40
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| | központi bank által kezelt operációs értékpapírszámlák | Explanation:
https://www.euroclear.com/site/public/EB/!ut/p/c5/04_SB8K8xL...
A securities account, in most cases, held and managed by the central bank on which credit institutions can place securities deemed suitable to back central bank operations. The securities held on these accounts are finally deposited with the CSD under the name of the national central bank, so that the transfer into a safe custody account results in a transfer between the bank's and the national central bank's account with the CSD. The securities deposited with the national central bank are generally pledged to the National Central Bank as collateral for overnight and intraday Lombard loans.
http://193.34.230.175/glossary/global_text.asp
Operational Safe Custody Accounts
Defined by the Bank of International Settlements as securities accounts run by the central bank in which credit institutions can place securities deemed suitable for the backing of central bank operations. The securities held on these accounts are finally deposited with the central securities depository (CSD) under the name of the central bank, so that the transfer into a safe custody account results in a transfer between the bank's and central bank's account with the CSD. The securities deposited with the central bank are generally pledged to the central bank as collateral for (interest-bearing) overnight and (interest-free) intra-day Lombard loans (Lombard Loans should be defined separately). They can also be used for open market transactions (repos) based on a general authorisation given to the central bank to acquire securities.
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| Selected response from:
  Katalin Szilárd
Hungary
Local time: 04:40
| Grading comment köszönöm.
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