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the opening of insolvency proceedings in relation to the participant ;
the opening of insolvency proceedings in relation to the participant ;

( b ) the opening of insolvency proceedings in relation to the participant ;
( b ) the opening of insolvency proceedings in relation to the participant ;

the submission of an application relating to the proceedings referred to in subparagraph ( b ) ;
the submission of an application relating to the proceedings referred to in subparagraph ( b ) ;

( a ) ( b ) ( c ) ( d ) the opening of insolvency proceedings ;
( a ) ( b ) ( c ) ( d ) the opening of insolvency proceedings ;

, proceedings of the first ecb central banking conference , european central bank , frankfurt am main , november 2000 .
, proceedings of the first ecb central banking conference , európska centrálna banka , frankfurt nad mohanom , november 2000

nothing in this clause 9 shall limit the right of the ecb to take proceedings before the courts of any other country of competent jurisdiction .
nothing in this clause 9 shall limit the right of the ecb to take proceedings before the courts of any other country of competent jurisdiction .

( c ) the submission of an application relating to the proceedings referred to in subparagraph ( b ) ;
( c ) the submission of an application relating to the proceedings referred to in subparagraph ( b ) ;

b authority of the ecb to perform its functions the opening of insolvency proceedings or proceedings in respect of the participant will not affect the authority and powers of the ecb arising out of the system documents .
b authority of the ecb to perform its functions the opening of insolvency proceedings or proceedings in respect of the participant will not affect the authority and powers of the ecb arising out of the system documents .

c enforcing title to security even in the event of insolvency proceedings or proceedings in respect of the participant , other participants in the system and the ecb as pledgees will still be free to enforce and collect the participant 's rights or assets through the action of the ecb pursuant to the rules .
c enforcing title to security even in the event of insolvency proceedings or proceedings in respect of the participant , other participants in the system and the ecb as pledgees will still be free to enforce and collect the participant 's rights or assets through the action of the ecb pursuant to the rules .

--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;
--- « information and control module ( icm ) » means the ssp module that allows participants to obtain on-line information and gives them the possibility to submit liquidity transfer orders , manage liquidity and initiate backup payment orders in contingency situations , --- « icm broadcast message » means information made simultaneously available to all or a selected group of target2 participants via the icm , --- « indirect participant » means a credit institution established in the european economic area ( eea ) , which has entered into an agreement with a direct participant to submit payment orders and receive payments via such direct participant 's pm account , and which has been recognised by a target2 component system as an indirect participant , --- « insolvency proceedings » means insolvency proceedings within the meaning of article 2 ( j ) of the settlement finality directive , --- « instructing participant » means a target2 participant that has initiated a payment order , --- « intraday credit » means credit extended for a period of less than one business day , --- « liquidity transfer order » means a payment order , the main purpose of which is to transfer liquidity between different accounts of the same participant , --- « marginal lending facility » means a eurosystem standing facility which counterparties may use to receive overnight credit from a eurosystem cb at the pre-specified marginal lending rate , --- « marginal lending rate » means the interest rate applicable to the marginal lending facility , --- « multi-addressee access » means the facility by which branches or credit institutions established in the eea can access the relevant target2 component system by submitting payment orders and / or receiving payments directly to and from the target2 component system ;