BUSINESS TERMS AND CONDITIONS - Magyar Nemzeti Bank

participants in a debit position, collecting the amount on its own account, and then, provided that alldebits have been successfully completed, credits the bank account of VIBER participant with a creditposition debiting its own account by the time specified in Annex 2.If the bank account is unfunded, no forced booking entries are made, but MNB account transfer orderremains in the queue with a high priority. The VIBER participant cannot withdraw such transaction ordersnor change their priority. If any transaction order arising from bankcard settlement is still in the queueat VIBER closing, the VIBER shall not reject them: before closing, MNB shall make an overnight creditcollateralised with securities blocked for MNB to cover settlement. In these cases the closing time ofVIBER shall be extended by the time necessary for granting the credit, but sending in other paymentorders shall not be allowed.15.1.3.3. Cash deposits and withdrawals at MNB cash deskVIBER participants can make cash deposits and withdrawals at MNB cash desks according to the BusinessTerms and Conditions for Large Cash Transactions. Withdrawals are preceded by a check of funds. Ifamount available is sufficient, the debit entry is made and the cash is disbursed. If there are insufficientfunds, the payment order is rejected.15.1.3.4. Placing deposits at the central bankFollowing a transaction between a resident credit institution and MNB the deposit is placed upon MNB‟sinitiation with a transfer between accounts during VIBER operating hours.15.1.3.5. Redemption of securities of MNB‟s own issue upon maturityOn the day of maturity of the securities of MNB‟s own issue, at the time of opening of VIBER MNB shallcredit – upon receipt of advance notice form KELER – the bank account of the beneficiary resident creditinstitution (or the correspondent with a VIBER bank account if the securities holder is not a VIBERparticipant), by way of transfer between accounts.15.1.3.6. Transfers due to bank errorsAny error made by the MNB will be corrected during VIBER business hours, by way of transfer betweenaccounts.15.1.3.7. Official transfer orders and remittance summonsFunds for official transfer orders and remittance summons received during VIBER business hours areblocked in VIBER. The bank account holder is notified regarding the debit in an MT900 message.15.1.4. Prepayment of central bank credits, end of day credit repaymentA resident credit institution may prepay overnight collateralised credits even during VIBER operatinghours. VIBER participants may initiate repayments with an MT202 message, indicating MNB‟s MANEHUHHBIC code for the beneficiary and the number of the credit account in Field 72.15.1.5. Central bank receivables not settled before VIBER openingOf the central bank receivables, uncollateralised HUF credits and settlement costs (interests andcommissions) are booked at the beginning of the business day providing that there are sufficient funds. Ifthere are insufficient funds, the payment order is put in a queue in VIBER. MNB charges default intereston central bank receivables, which are still in the queue at the end of the day until settlement.16. SENDING AND RECEIVING ORDERS16.1. SWIFT FIN Y-CopyThe communication system of VIBER is SWIFT. SWIFT FIN Copy is designed to convey messages fordomestic real time gross settlement systems.39/47