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ECMS (Eurosystem Collateral Management System)

A unified system for managing assets used as collateral in Eurosystem credit operations (refinancing operations and intraday credit).

Electronic payments

Payments made with instruments other than cash which enable payments to be made without needing to exchange documents in paper form, e.g. credit cards, credit transfers and direct debits.

EPC (European Payments Council)

The decision-making and coordination body of the European banking industry in relation to the development of the SEPA.

ESMIG (Eurosystem Single Market Infrastructure Gateway)

Common component developed by the Eurosystem in order to maximize the synergies between TARGET2 and TARGET2-Securities and facilitate the consolidation of the technical, application and infrastructural components of TARGET services. The ESMIG component provides a set of features shared among all the market infrastructure services beyond representing a single point of contact with the external networks.