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after receipt of the reservation request the ecb shall check whether the amount of liquidity on the partici ­ pant 's pm account is sufficient for the reservation .
dopo aver ricevuto la richiesta di riserva , la bce controlla se l' ammontare della liquidità sul conto pm del partecipante è sufficiente per tale riserva .

and if the total liquidity position of one or more relevant pm accounts is negative , extract single payment orders until the total liquidity position of each relevant pm account is positive .
and if the total liquidity position of one or more relevant pm accounts is negative , extract single payment orders until the total liquidity position of each relevant pm account is positive .

and ( ii ) if the total liquidity position of one or more relevant pm accounts is negative , extract single payment orders until the total liquidity position of each relevant pm account is positive .
and ( ii ) if the total liquidity position of one or more relevant pm accounts is negative , extract single payment orders until the total liquidity position of each relevant pm account is positive .

--- « public sector body » means an entity within the « public sector » , the latter term as defined in article 3 of council regulation ( ec ) no 3603/93 of 13 december 1993 specifying definitions for the application of the prohibitions referred to in articles 104 and 104b ( 1 ) of the treaty ( 1 ) ( now articles 101 and 103 ( 1 )) , --- « settlement bank » means a participant whose pm account or sub-account is used to settle as payment instructions , --- « settlement central bank ( scb ) » means a eurosystem cb holding a settlement bank 's pm account , --- « settlement finality directive » means directive 98/26 / ec of the european parliament and of the council of 19 may 1998 on settlement finality in payment and securities settlement systems ( 2 ) ;
2007d0007 --- it --- 12.05.2010 --- 003.001 --- 8 ▼b --- « public sector body » means an entity within the « public sector » , the latter term as defined in article 3 of council regulation ( ec ) no 3603/93 of 13 december 1993 specifying definitions for the application of the prohibitions referred to in articles 104 and 104b ( 1 ) of the treaty ( 1 ) ( now articles 101 and 103 ( 1 )) , --- « settlement bank » means a participant whose pm account or sub-account is used to settle as payment instructions , --- « settlement central bank ( scb ) » means a eurosystem cb holding a settlement bank 's pm account , --- « settlement finality directive » means directive 98/26 / ec of the european parliament and of the council of 19 may 1998 on settlement finality in payment and securities settlement systems ( 2 ) ;