Same day funds
Seal
Sealing
Secret key
Secure Cryptographic Device (SCD)
Security audit
Security Centre
Security management
Sender finality
Settlement
Settlement agent
Settlement bank
Settlement date
Settlement institution
Settlement risk
Settlement system
Settling participant
Signatory
Signature-creation data
Single authentication
Single-purpose prepaid card
SIT beneficiary bank
SIT Common Centre
SIT exchange period
SIT exchange range
SIT instructing bank
SIT outbound remittance
SIT receiving bank
SIT return remittance
SIT sending bank
SIT user
Smart card
Standing order
Stream cipher
Surcharge fee
Switch fee
Symmetric algorithm
Symmetric cryptography
Systemic disruption
Systemic risk
Systemically important payment system

SIT Bank message

There are three types of messages:

• M1: message containing the banking transactions sent by the IE (Issuing Installation) to the IR (Receiving Installation). Its form is standardised in the MINOS reference document. It consists of an envelope, the form of which distinguishes the contents, and the actual content or text that describes the exchanged transactions.

• M2: message from the IR (Receiving Installation) to the IE (Issuing Installation), indicating that message M1 has been received.
  This acknowledgement, which formalizes the exchange between two banks, plays two essential roles:
  - It informs the issuing bank of the possible deferral of the settlement date if the M1 message arrived at the receiving station after the cut-off time.
  - It sets the point of irrevocability of the order sent to the system by the issuing bank (in compliance with article L330-1 III of the Monetary and Financial Code). In the event of subsequent proceedings, this irrevocability is maintained until the end of the day that this opening decision is declared (according to article L330-1 II of the Monetary and Financial Code).

• M3: upon receiving the M2 message, the Issuing Installation sends this M3 message to the Accounting Centre. It consists of the envelope of the original M1 message.