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1.1 scope of agreement the purpose of this agreement ( hereinafter referred to as the „agreement ") is to ensure that the ecb is able to net all existing positions under all outstanding transactions made between the ecb and the counterparty , regardless of any agent or agents authorised to act on behalf of the ecb through whom the transactions giving rise to those positions may have been effected , including the central bank of any member state of the european union which has adopted the euro as its currency , and regardless of which office ( including the head office and all branches ) of the counterparty may be involved in such transactions , and after taking into account the effect of any existing netting provisions in master or other agreements between the ecb and the counterparty and / or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions .
1.1 scope of agreement the purpose of this agreement ( hereinafter referred to as the „agreement ") is to ensure that the ecb is able to net all existing positions under all outstanding transactions made between the ecb and the counterparty , regardless of any agent or agents authorised to act on behalf of the ecb through whom the transactions giving rise to those positions may have been effected , including the central bank of any member state of the european union which has adopted the euro as its currency , and regardless of which office ( including the head office and all branches ) of the counterparty may be involved in such transactions , and after taking into account the effect of any existing netting provisions in master or other agreements between the ecb and the counterparty and / or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions .