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Glosario de términos


  • SEPA
    This is the acronym for Single Euro Payments Area, an initiative of the European banking industry aimed at establishing a single market for retail euro payments. The objective of SEPA is that consumers, businesses and other economic agents can make and receive euro payments, inside or outside national borders, as easily, quickly,securely and under the same basic conditions as they do today in their own countries, regardless of their location. The Payment Services Directive will contribute to achieving this objective by harmonising the different existing regulation frameworks, and equalling rights and obligations in terms of money transmission services. Since January 2008, SEPA transfers can be made, cards are issued and operations are processed with these cards, according to SEPA requirements. The incorporation of the Directive will also allow direct debits adapted to SEPA to be offered. Likewise, work continues in different areas to make SEPA an irreversible reality by the end of 2010.
  • Securities settlement system (SSS)
    Transfer system for the settlement of securities operations. It covers all the institutional procedures necessary for the clearing and settlement of securities operations, as well as for their custody.
  • Straight-through processing

    Processing of funds transfers and transactions, including the automated processing of confirmations and suspensions, if any, as well as the generation, clearing and settlement of payment orders.