English

In older literature, often used to refer to the goods necessary for the life of a person or household, such as clothing, furniture, household contents, including typical household appliances such as washing machines, tumble…

In old documents, a municipal levy to pay the field guard (Hagemann, Hegner, Flurschütze, Pfänder); Hagen = here: enclosed area of land. – Fee to the bull owner for inseminating a cow; Hagen =…

In the marketplace, a particular type of negotiation in the course of which the seller and buyer of a good or service agree on the price and more detailed terms of the transaction (the…

In the banking business, in the case of loans, the inclusion of possible losses in the value of the assets tendered as collateral, such as: Securities or life insurance policies. – In the case…

In the banking business, in the case of loans, the inclusion of possible losses in the value of the assets offered as collateral, such as: Securities or life insurance policies. – In the case…

In older documents, the payment to the towman (tower), namely – a person who, by muscular strength (muscular strenght) or with his own draught cattle (draught cattle) – pulls a ship – on a…

Former term for a reduced rate on all taxes, usually half the rate of assessment. – Today also used in a derogatory sense for currency that has lost purchasing power through inflation. – See…

Market participants admitted and supervised by the exchange in the USA who buy and sell contracts exclusively for their own account. To the extent that floor traders receive orders from third parties, they are,…

In older documents, a charge for goods stacked in a hall (store-house: warehouse, store; magazine: magazine, this in older documents also ambar and ambarre) and sold directly from there. Attention: The financial encyclopedia is…

Formerly a small coin worth half a penny. – See gold mark, mark, coin, reichsmark, place, thaler. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without…

A widespread opinion, especially in the U.S., that the period from Halloween (the day before All Saints’ Day, November 1) to the end of April sees a higher increase in value on the stock…

Former payment to the hunter who caught crop damaging game; the Hame and the Hamen (gin) = catch net. – See field money, hunter’s money, hat money. Attention: The financial encyclopedia is protected by…

Financial Production, Flows and Stocks in the System of National Accounts:) A set of rules developed by the UN Statistical Office and the ECB for collecting data on the financial market and recording them…

From the old court treasury (regent’s cascet), the private treasury of the sovereign. – A sum of money, usually in cash, made freely available to senior staff members without obligation to keep records in…

On the stock exchange, only the decimal places (here: 10 – 11) are mentioned among the parties involved, for example, in the case of an offer of EUR 90.10 and a demand of EUR…

An investor – also a bank, a capital management company – combines with a larger ownership share in a company the claim to be able to directly co-determine important decisions of the management (an…

In commodity futures, said of the likelihood that the counterparty prefers cash settlement at the time of settlement (in connection with delivery of commodities on futures contracts, the term generally means that the party…

Agreement in employment contracts with senior executives, also in the financial sector, that they will receive a large sum in cash or other form upon leaving. Originally intended as a bonus for the risk…

In older financial language, generally speaking, of a tolerance money. Originally, the harai was a tribute that all non-Mohammedans in Turkey – any kiafir = infidel, in the narrower sense: Christian – had to…

A debt that cannot be discussed at all; and the debtor cannot persuade the demanding creditor – the liquidator in the older financial language – to wait for payment either. – Overall, all bank…

Coins in their function as legal tender. – Means of payment tied to precious metal. – In financial jargon, also an investment that must yield a return in the foreseeable future; said in particular…

On the stock exchange, slowly advancing quotations. – See Severity. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk,…

On the stock exchange, slowly advancing quotations. – See Severity. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk,…

Formerly a levy for the financial needs of the Harde. – In the north – as in Schleswig, for example – a Harde was initially a loose settlement community. The assembly of the inhabitants…

Generally, a planned reserve of money (money kept in reserve) from which aid can be granted to people or companies in need through no fault of their own – for example, in the event…

In relation to the financial market, legislative and prudential alignment at the level of the EMU, the EU or, more rarely, globally. – Since around 2013, there has been a trend toward maximum harmonization…

price index composed of the cost-ofliving indices of the individual Member States of the Eurosystem. It is widely used as a benchmark for the ECB’s monetary policy objectives. Because about 700 services (about forty…

In older documents, a money-grubbing, miserly person (someone who stingily avoids spending money), a greedy (avaricious) person, a felty pincher. In our enlightened post-modern society such persons are hardly to be found anymore. In…

In the past, a partly one-time, partly ongoing fee for the right to collect resin commercially in manorial or communal forests (right to tap trees for resin; Harzrecht). – The resinator scores the trunk…

Average disbursement: Costs incurred by the shipping company or the insurance company as a result of a naval accident or sea damage; see § 779 HGB. – Sometimes, general average is also understood to…

Transport of cash from one place to another by dedicated service providers (hawaladers) outside the regular banking system, usually by – often specially organized – cash messengers. The word “hawala” from the language of…

Expletive referring to central bankers who defend the measure property of money and are unwilling to allow inflation. – See money property law, money home, money trust, money value stability, lie-and-deceive thesis, nominal value…

In the course of the currency reform in West Germany on June 21, 1948, the sum of new money issued to each citizen in the amount of 60 Deutsche Marks, for which 60 Reichsmarks…

In relation to the financial market, this is a behavior in which a commitment continues to be held because too much money has already flowed into it, i.e. sunk costs have arisen. The investments…

An assignment issued by the early North American government to an area of state land as a reward for special services, especially to the army. The assignment could be sold – at least temporarily…

The apparently empirically proven fact that even professional decision-makers in the financial market allow themselves to be influenced in their actions by lurid, positive and negative headlines in newspapers and by correspondingly sensationalized reports…

Another term for core inflation (a measure of the total inflation within an economy which eliminates certain items that face volatile price movements, especially food and energy). Attention: The financial encyclopedia is protected by…

In older documents, traveling healers (quack doctors, charlatans) demanded payment for stones, usually taken from streams, which were supposed to cure all kinds of diseases within a certain period of time, at the end…

In Germany, health insurance firms, which are important for the financial market due to their premium income and investments, are subject to supervision by the German Federal Financial Supervisory Authority (BaFin). The authority also…

Unless otherwise defined, all expenditures by health insurance funds for the treatment of physical and mental ailments. In 2012, this amounted to almost eleven percent of the gross domestic product in Germany and thus…

In the stock market, said of persistent prices with a slight tendency to losses (quotations demonstrating an inability to advance with even a slight tendency to decline). – See firming. Attention: The financial encyclopedia…

In the stock market, said of persistent prices with a slight tendency to losses (quotations demonstrating an inability to advance with even a slight tendency to decline). – See firming. Attention: The financial encyclopedia…

In older documents, the fee for weighing goods (CH: weighing; weighing: the determination of the weight) to the publicly appointed weighmaster (check weighman); the weighing money. – Earlier term for the share that a…

The cost-accounting recognition and accounting treatment of a hedge transaction. – See Derivatives, IAS 39, International Accounting Standards, International Financial Reporting Standards. – See ECB Monthly Report, February 2004, p. 79 (overview with explanatory…

Loans granted by banks and pension funds to hedge funds, usually with longer-term contracts. In mid-2005, bank loans to hedge funds in Germany accounted for significantly less than one percent of loans to non-banks,…

The assessment of a hedge fund made by globally recognized rating agencies (such as Standard & Poor’s [SP], Moody’s or Morningstar, a highly respected Chicago-based financial information and analysis company). The rating, which is…

The following are seen as the main risks: – the leverage is too high; in the case of the LTCM hedge fund, which got into trouble in 1998, the leverage was 25: the portfolio…

Numerous approaches attempt to represent the often very widely diversified business of the managers of a hedge fund in basic activities. One classification is – Return Enhancer, characterized by the goal of high return…

To be sure, the slightly more than 8,000 known hedge funds worldwide increase liquidity in financial markets and assume risks for which there would otherwise be no buyers. Hedge funds also account for about…

The majority of hedge funds operating worldwide are each established in the USA as a partnership (joint partnership) in which shareholders or limited liability partners can participate. The investors thus assume the role of…

Today, generic term for globally operating risk funds, namely capital management companies, which are mainly characterized by the following features: – they explicitly aim for outstanding market success. To achieve this, they track down…

In the case of a certificate, the lower threshold defined at the time of issue (absolute value or percentage of the reference value), which may not be reached or undercut in order to preserve…

Unless otherwise defined, the ratio showing how many options are required in relation to the number of underlying assets to hedge against expected price changes in the underlying asset (the number of contracts required…

Market participant who hedges risky financial products or commodities – such as: Grain in grain mills, fruit in yogurt producers – through one or more offsetting transactions. – See hedging, replacement sale, hedge transaction,…

In the credit market, the taking of a protection buyer position by selling the credit risk to a protection seller (fixed rate payer) and, unless otherwise stated, by means of a credit derivative (more…

Risky financial positions (open positions) attributable to market price risks are hedged by establishing single or multiple offsetting transactions or positions (taking a position in a futures market contrary to a position held in…

In general, all transactions that serve to cushion or completely avoid a possible loss. – See hedging transaction, risk management. Attention: The financial encyclopedia is protected by copyright and may only be used for…

In general, all transactions that serve to cushion or completely avoid a possible loss. – See hedging transaction, risk management. Attention: The financial encyclopedia is protected by copyright and may only be used for…

Counter- or hedging transaction for an existing or emerging risk-bearing position; also called hedging transaction. Risk compensation is achieved by taking a similar but opposite risk to the position being hedged (hedging transactions purchase…

A more satirical expression for the fact that a company moves part of its production to a foreign currency area if a significant part of its sales are also made there. – By such…

A linguistic formula that emerged around 2013 in relation to the European Monetary Union. According to this, Germany, in view of its politically and economically stable circumstances, should permanently support the economically weaker states…

In older documents, payment for a physician’s services. – See Heilsteingeld, Liquidation, Meistereigeld. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor…

In the case of an institution, all securities acquired with the intention of realization in the near future. – See trading book, securities available for sale. The result of banks’ proprietary trading activities is…

Means of payment that bypass the banking system and enter circulation. – In particular, the Special Drawing Rights of the International Monetary Fund, – money pumped into circulation by central banks through quantitative easing…

In the financial market, the agreement that a buyer must make payments by the end of the contract, whatever happens (non-cancelable contract whereby the purchaser must make the stated payments to the seller, irrespective…

an exaggerated inclination toward Greece that fails to recognize the actual facts. – In the EU in particular said in connection with the admission of Greece to the EU in 1981 by decision of…

Old coin in Germany, named after the town of Hall am Kocher (today: Schwäbisch Hall). Originally, the Heller was a minted silver coin, later a copper sheath coin. – The town of Hall in…

In the U.S., an official measure that summarizes the number of job advertisements in major American newspapers and the areas in which companies offer employment opportunities for the purpose of economic forecasting. The index…

In the U.S., an official measure that summarizes the number of job advertisements in major American newspapers and the areas in which companies offer employment opportunities for the purpose of economic forecasting. The index…

An aversion to Switzerland in general and to Switzerland as a financial center in particular. – This aversion (dislike), which is particularly widespread in England, France and Germany, is based on the suspicion that…

A confluence of natural gas pipelines in the U.S. state of Louisiana that serves as the basis for trading natural gas-related futures even beyond the U.S. (a natural gas pipeline hub in Louisiana that…

– After 2000, a mostly derogatory term for the payment to mothers who raise their children at home (on the hearth; on the own fireside) instead of sending them to expensive tax-funded public institutions…

Investors base their decisions on a role model who they believe has better market knowledge. – The ultimate cause is the fear of being wrong with one’s own assessment. Herd behavior pays off for…

A widely and frequently used measure of concentration risk. For counterparty risk, the index is defined as the sum of the squares of the relative shares of a portfolio of all borrowers. – Well-diversified…

Formerly said in Germany of coins struck by a German sovereign (provincial sovereign) who was authorized to issue coins, in other words who possessed the right to mint (coinage prerogative); in contrast to imperial…

The insolvency of the then highly respected Cologne-based private bank Iwan D. Herstatt in June 1974. The bank was considered a top address on the financial market. With around DM 1.2 billion in debts…

The risk that, in a foreign exchange transaction, one party will pay out the currency it has sold – in this case: DEM – is paid out. However, the contracting party is not in…

Expression in connection with expectations on foreign exchange markets. – If, within the participants on the foreign exchange market, an opinion has been formed as to which exchange rate trend the ratio of individual…

Abbreviation used in most publications for the Harmonized Index of Consumer Prices, which is the basis for calculating the value of money in the euro area. Attention: The financial encyclopedia is protected by copyright…

At the ECB, an increase in the Harmonized Index of Consumer Prices that is only temporary, triggered by precisely determinable temporary influences, such as a weather-related crop failure. – See inflation, core inflation, quality…

Generally, amounts recognized in the balance sheet that exceed the current market price. – In the case of banks and funds, these are securities – whose current market price is below their carrying amount,…

Economists such as especially banks, companies and funds that operate in the financial market – with considerable sums and – usually with high risk. – A term of abuse without precise definition, usually referring…

A share that is trading at a high price and reached this value in a short period of time. – Share with a very good price/earnings ratio. – Employee in the bank and in…

In finance, an exceptionally knowledgeable person; an expert who is held in high esteem by customers and also by employees – but not necessarily by top management – because of his or her knowledge…

In relation to a listed share, the highest daily price within the past fifty-two weeks, adjusted for any forward share split, i.e. the conversion of existing shares into a larger number of new shares…

Payment formerly made to the shipmaster in the inland waterway area in addition to the freight charge if the ship had to accept unscheduled laytime as a result of high water; cast = here.…

Designation of a certain type of remuneration for asset managers. – In principle, it is dependent on performance. Depending on the investment strategy – balanced, growth-oriented – the remuneration (performance fee) is generally ten…

Generally fixed-income (fixed-interest bearing) securities that have been poorly classified by rating agencies or, in the opinion of financial market players, correspond to such a classification. Almost all emerging market government bonds belong to…

Buy and sell orders on the stock exchange triggered in milliseconds by appropriately programmed computers. The program used for this purpose is called an arbitrage trading program, APT; some people also call such computer…

Countries and territories (jurisdictions) that do not cooperate with the supervisory authorities and in which, in particular, money laundering is hardly or not at all prosecuted. The Federal Financial Supervisory Authority (BaFin) maintains a…

After 2005, term also penetrating more deeply into German financial language for – whopping profits, – earned in the financial sector on very short-term engagements (hit-and-run financial activities; hit-and-run deals), but – without regard…

Industries with above-average research expenditure and high product specialization, such as pharmaceutical manufacturing or nanotechnology. – Companies of this type have special requirements with regard to the supply of credit by banks, and the…

Loans specifically targeted by regulators. These are used to finance real estate that has a comparatively high volatility of loss rate. These include in particular – loans to pay for expenses during the land…

Generally, an exceptionally profitable investment at all; in a narrower sense, a high-yield financial product. – See high-speed money, (high yields, risk-return principle, super profit. Attention: The financial encyclopedia is protected by copyright and…

Generally, institutions with a striking ratio of risk to equity, primarily hedge funds. – See Leverage. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express…

Term used in German supervisory law, namely, companies that – without being institutions or financial enterprises – manage real estate, operate data centers or perform other activities in their main activity, – which are…

Investors believe after the occurrence of an event that it could have been foreseen. In hindsight, the market appears more predictable than it actually is. This underestimation of uncertainty makes investors reckless; they now…

A method used by technicians to graph the frequency distribution of certain measurements, primarily the traded price range on the stock market, in the form of columns in a very specific way. – See…

Accumulated wealth in the form of cash or coins of precious metal. – An individual who has money but no love in life; the only option seems to be to spend much money in…

Unless otherwise defined, saving in liquid form, in the narrower sense in cash and usually referring to households (to hide away money; currency held in abeyance rather than productively or consumptively utilized). – See…