e-money outstandings
(in ELM) (in relation to an ELMI and at any time) the total amount (actual or contingent) of the ELMI's financial liabilities related to outstanding e-money at that time, including the total amount that would be payable by the ELMI if all the e-money in respect of which persons have, against the ELMI, a redemption right or any other right to require e-money to be redeemed were then due for redemption.5