Pass the ACI-Financial 3I0-013 Questions and answers with ExamsMirror

To prevent that a failed order results in a failure to settle that day, which in turn would lead to an incompletely-reconciled account.

To facilitate the handling of complex security transactions.

In order to save data capacity in electronic archiving systems.

To anticipate the fact that clearing houses stop processing in the afternoon, whereas payment orders may still be processed until 6 p.m.

ISDA

ACI

SIFMA/ICMA

ICMA

17:00 (5.00 p.m.) Central European Time (CET)

18:00 (6.00 p.m.) Central European Time (CET)

18:30 (6.30 p.m.) Central European Time (CET)

18:30 (6.30 p.m.) CET, but on the last minimum reserve fulfillment day (23rd of a month) 19:30 (7.30 p.m.) CET

Wait until the counterparty contacts you to before deciding what to do

Immediately contact the counterparty to find the most appropriate way to have the funds returned as quickly as possible to minimize the loss of value days

Ask the counterparty to keep the money and to place (invest) it at a special rate

Ask your accounting department to book the amount as a loss

A bank which processes payment orders on behalf of another bank

A bank which processes payment orders on national level only

A bank which has subsidiaries in CLS-countries

A bank which has a minimum reserve account in more than one country

An option traded in USD

An option which can be exercised at any time between the purchase and expiration date

An option based on any US dollar instrument

An option which can be exercised only on its expiry date

Claims are not expected to be submitted after 15 days from the actual settlement date.

Claims of less than USD 5,000.00 are not expected to be submitted.

Claims are calculated on the full principal amount of the failed transaction. Interest rates are imposed by the agent banks, unless a higher negotiated rate is to be applied.

Acknowledgement of receipt of a claim should be confirmed within 48 hours by email or SWIFT.

An account that you hold with another commercial bank

An account that another bank holds with you

An account that you hold with the Bank of England

Your suspense account at the European Central Bank

GBP 6,944.44

GBP 7,944.44

GBP 17,777.77

GBP 6,849.32

To simplify domestic payments

To handle interbank liquidity more efficiently

To accelerate cross-border payments

To minimize settlement risks