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# average outstanding electronic money

*In force · EMD Article 2, point (4) · Consolidated version of 13 January 2018 · Checked against EUR-Lex on 13 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02009L0110-20180113)

### Definition

> **4.** ‘**average outstanding electronic money**’ means the average total amount of financial liabilities related to electronic money in issue at the end of each calendar day over the preceding six calendar months, calculated on the first calendar day of each calendar month and applied for that calendar month.

### Source

[EMD, Article 2, point (4)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02009L0110-20180113).