Pressure Hold
WARNING: This page is about a different car, the 2003 GMC Sierra, 2003 GMC Cab & Chassis Sierra, 2003 Chevrolet Silverado, and 2003 Chevrolet Cab & Chassis Silverado. However, it is still accessible from the selected car via links, so may be relevant.
The EBCM closes the isolation valve and keeps the dump valve closed in order to isolate the slipping wheel when wheel slip occurs. This holds the pressure steady on the brake so that the hydraulic pressure does not increase or decrease.
The excess fluid is stored in the accumulator until the pump can return the fluid to the master cylinder or fluid reservoir.