Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

recovery (of an FMI)

The actions of an FMI, consistent with its rules, procedures and other ex ante contractual arrangements, to address any uncovered credit loss, liquidity shortfall or capital inadequacy, whether arising from participant default or other causes (such as business, operational or other structural weakness), including actions to replenish any depleted prefunded financial resources and liquidity arrangements, as necessary to maintain the FMI as a going concern and the continued provision of critical services.

Updated: 16 Jun 2015

Source documents

U
unwind
recovery (of an FMI)

The actions of an FMI, consistent with its rules, procedures and other ex ante contractual arrangements, to address any uncovered credit loss, liquidity shortfall or capital inadequacy, whether arising from participant default or other causes (such as business, operational or other structural weakness), including actions to replenish any depleted prefunded financial resources and liquidity arrangements, as necessary to maintain the FMI as a going concern and the continued provision of critical services.

Updated: 16 Jun 2015

Source documents

 Additional terms that are not included in the main glossary can be found in the previous version of the glossary.