ACI 3I0-013 - ACI Operations Certificate challenging

It refers to an electronic settlement between Euroclear and Clearstream

It is an electronic settlement between Western Union and Clearcom

It refers to the relationship between two correspondent banks

It designates the exchange of payment orders between a nostro and a vostro account

When a trade has been agreed to with dates (maturities) different from the standard dates

When one of the parties to the deal unilaterally decides to withdraw from the on-going transaction

When, due to a system break, one or both parties to the deal chooses to withdraw from the ongoing transaction

When, due to a system break, one or both parties to the deal are unclear as to whether the deal has been done

Specification of the applicable law

The value date

The brokerage cost

The name of the person(s) originating the deal

Flat

Negative or inverse

Positive

Neutral

Finland did not participate in TARGET but it does participate in TARGET2

The cut-off time for TARGET2 is 20:00 (8.00 p.m.) CET, whereas the cut-off time for TARGET was 18:00 (6.00 p.m.) CET

TARGET2 runs on a single shared technical platform whereas TARGET did not

TARGET2 processes payment orders denominated in EUR as well as USD

That a daily nostro reconciliation report is sent out to the correspondent bank

That they are performed before the next business day

That they are performed in a timely and efficient way

That open items are booked on an internal account

A dealer does not need to confirm payment details by phone

It splits differences arising from failed settlements between the two counterparties

It eliminates the need to send out SWIFT payment authorizations on a case-by-case basis

It avoids having to confirm each deal separately

The date by which the interest payment on an operation must be made

The last date by which the minimum reserve amount can be paid to the central bank

The date, on which settlement must be made on the contracted amount or the differential amount of an operation

The date a deal is processed

No action is required. The credit interest earned on the credit balance will offset the debit interest incurred on the short balance

You should borrow USD 5,000,000.00 to cover the short balance and leave the long balance as it is

You should lend the surplus USD 5,000,000.00 in order to compensate the overdraft charges on the short balance with the interest earned on the loan

You should instruct the bank with the long balance to transfer USD 5,000,000.00 to your nostro account at the other bank

Less than 100%

100%

More than 100%

More than a bond selling at a premium