Glossary Term: Collection Banks
The Collection Banks for the Balancing and Settlement Code (BSC) are financial institutions designated to handle the collection of funds from market participants. These banks work in conjunction with the Funds Administration Agent (FAA) to ensure that all payments related to trading charges, imbalance charges, and other costs are managed and allocated.
BSC defined definition
Means such branches of such banks in the United Kingdom as may from time to time be determined by the Panel for the purposes of Section N;