Definitions
Article 2
For the purposes of this Regulation, the following definitions apply: (1) ‘minimum reserves’ means the amount of funds that an institution is required to hold as reserves in its reserve accounts with the relevant national central bank; (2) ‘minimum reserve requirements’ means all the requirements that institutions are required to comply with pursuant to this Regulation in relation to minimum reserves as regards the calculation, notification, acknowledgement, and maintenance of minimum reserves, and reporting and verification; (3) ‘euro area Member State’ means a Member State whose currency is the euro; (4) ‘credit institution’ means ‘credit institution’ as defined in Article 4(1)(1) of Regulation (EU) No 575/2013; (5) ‘branch’ means ‘branch’ as defined in Article 4(1)(17) of Regulation (EU) No 575/2013; (6) ‘relevant NCB’ means the national central bank (NCB) of the euro area Member State in which the institution is resident; (7) ‘reserve accounts’ means the accounts in which an institution holds its reserves with the relevant NCB; (8) ‘reserve base’ means the sum of the eligible liabilities used for calculating the minimum reserves of an institution; (9) ‘reserve ratio’ means the percentage applied to items of the reserve base for calculating an institution’s minimum reserves; (10) ‘maintenance period’ means the period over which compliance with minimum reserve requirements is assessed; (11) ‘end-of-day balance’ means the reserve holdings at the time when the finalisation of payment activities has taken place and entries relating to access to the standing facilities of the Eurosystem have been made; (12) ‘NCB business day’ means any day on which a particular NCB is open for the purpose of conducting Eurosystem monetary policy operations; (13) ‘TARGET2 business day’ means any day on which TARGET2 is open for the settlement of payment orders as defined in Guideline ECB/2012/27 of the European Central Bank ( 8 ) ; (14) ‘resident’ means any natural or legal person residing in any of the euro area Member States within the meaning of Article 1(4) of Council Regulation (EC) No 2533/98 ( 9 ) ; (15) ‘merger’ means an operation whereby one or more credit institutions (the acquired institutions), on being dissolved without going into liquidation, transfer all their assets and liabilities to another credit institution (the acquiring institution), which may be a newly established credit institution; (16) ‘division’ means an operation whereby one credit institution (the institution being divided), on being dissolved without going into liquidation, transfers all its assets and liabilities to more than one institution (the recipient institutions), which may be newly established credit institutions.