Global note and SEPA credit transfer: Difference between pages

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''Securities - issuance''.
(SCT).  


A global note is a document that represents all the bonds that have been issued in a programme and all the terms and conditions of the bonds as set out in the prospectus are attached to and incorporated in the global note.  
An electronic transfer of euro made under the rules and standards of the SEPA Scheme.


The circumstances where investors can obtain definitive notes in exchange for their interest in the global notes (for example if the clearing systems fail) are set out on the face of the global note. The global note is held by a custodian, the “common depository” or “common safekeeper” on behalf of the clearing systems (who in turn hold the global note on behalf of the bondholders).  
 
The standardised formats and service levels create:
 
#Certainty over data carried and delivered with payments.
#A requirement for gross payments with a maximum execution time 1 day; and
#Other specifications, for transfers within Europe, whether between or within national boundaries.




== See also ==
== See also ==
* [[An introduction to debt securities]]
* [[SEPA direct debit]]
* [[Bond]]
* [[Single Euro Payments Area]]
* [[Bondholder]]
* [[Payments and payment systems]]
* [[Clearing]]
* [[Custodian]]
* [[Depositary]]
* [[Documentation]]
* [[Note]]
* [[Prospectus]]
* [[Security]]


[[Category:The_business_context]]
[[Category:Cash_management]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]

Revision as of 12:27, 11 May 2016

(SCT).

An electronic transfer of euro made under the rules and standards of the SEPA Scheme.


The standardised formats and service levels create:

  1. Certainty over data carried and delivered with payments.
  2. A requirement for gross payments with a maximum execution time 1 day; and
  3. Other specifications, for transfers within Europe, whether between or within national boundaries.


See also

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