Univ.-Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.English-language economic definitions generated from approved international institutional sources.
Errors and omissions is a residual entry in balance-of-payments statistics. It is used when the recorded values of transactions do not produce the equality required by the accounts, with the amount and sign correcting the resulting discrepancy. The residual may reflect missing observations, reporting or measurement errors, or inconsistencies in the timing and valuation of… read more »
Errors and omissions is the balancing item in a country’s balance of payments. It records the net discrepancy between the measured entries in the current, capital and financial accounts when those accounts do not sum to zero, as they should in principle. The discrepancy may arise from incomplete coverage, timing differences, valuation problems, classification errors… read more »
Economic analysis provides the evidence and interpretation needed to judge how the economy is evolving and how monetary-policy decisions may affect it. It covers current activity, labour-market conditions and price developments, while also considering forecasts, uncertainty and the forces shaping economic fluctuations. The analysis can extend to structural changes that influence productive capacity, inflation behaviour… read more »
A deposit facility is a standing monetary-policy arrangement through which eligible counterparties place funds overnight with a central bank. The central bank pays interest on these deposits at a rate announced in advance, rather than negotiating the return for each transaction. In the Eurosystem, the facility is accessed through the relevant national central bank. It… read more »
A close link exists when an individual or organization can exercise substantial influence over an undertaking, or when the same person or body has that influence over multiple undertakings. This includes holding at least 20% of an undertaking’s equity or voting power, directly or through an intermediary, as well as other arrangements that confer control…. read more »
A central securities depository (CSD) operates the infrastructure used to register, safeguard, and transfer securities. It maintains authoritative records of investors' holdings and supports the completion of trades without routinely moving paper certificates. Depending on the market, the underlying instruments may be stored as immobilised documents or represented entirely by electronic entries. A CSD may… read more »
In public-sector statistics, central government refers to institutions exercising authority for the country as a whole. This category generally covers national ministries, executive bodies, and comparable publicly controlled entities with nationwide responsibilities. It does not include bodies governing provinces, regions, municipalities, or separately recorded social-protection schemes. The classification is used to present national-level public revenue,… read more »
Within ERM II, the central rate is the agreed euro-denominated value assigned to a participating currency. It anchors the mechanism’s monitoring of that currency and is used to establish the range within which its market exchange rate may normally move.
Chaining is a settlement arrangement in which the completion of one instruction helps make the assets or credit needed for another instruction available. By linking mutually dependent transactions, a payment or securities system may settle a larger set of queued instructions than would be possible if each instruction had to rely solely on resources already… read more »
A CCP link is a cooperative framework that enables two independent clearing houses to handle eligible transactions across their respective participant networks. It gives a participant access to clearing through its existing CCP rather than requiring direct membership of the other clearing house.