English

Formerly said for winnings from games of chance (games of hazard); jack = here: gambler, gambler, daredevil. – See money betting, token, gambling money. Attention: The financial encyclopedia is protected by copyright and may…

Named after the annual meeting of U.S. central bankers in Jackson Hole in the state of Wyoming, it is understood to mean – in a narrower sense – the opinion that a central bank…

The fact that shares of smaller companies yield above-average returns in January (the systematic outperformance of small stocks with respect to large stocks during January). A fully convincing and rational explanation for this (such…

A term that emerged around 2009 to describe an economy – with very high national debt, which amounted to 211 percent in Japan in mid-2014, – with a rapidly aging resident population and –…

Most of the (high) government debt in Japan is held in the form of securities issued by public-sector entities. When a security matures, it is rescheduled (restructured) at low interest rates – the term…

The technical terminology and customary mode of expression (parlance, phrasing) of a particular group. In relation to the financial market, the forms of communication customary there and unambiguously grasped by the participants. – See…

Play money, usually in the form of plastic tokens, used in parlor games and games of hazard in a casino (casino: a public room or building for gambling). – As a rule, chips are…

Jewels of any material kind with high value. – Cut and processed precious stones. – Whether and to what extent jewels are suitable for investment is very controversial. While the specialized trade in jewelry…

In the U.S., when the current market value of the property is less than the mortgage on it, homeowners can walk away (to leave callously and disregarding the distress of the creditor) and send…

As part of the labor market policy in Germany at the end of 2002, a low-interest loan offered to small and medium-sized enterprises that take on an unemployed person on a permanent basis. The…

An employee in an institute who is willing and able to step in during sudden staff shortages in a department in order to complete the tasks at hand there. – Someone who seeks to…

On the commodity exchange, the purchase of a smaller lot size than is customarily traded in the relevant place (a deal denominated in a smaller unit of trading than is featured in a regular…

In the older financial language for – the difference business, i.e. engagements at the stock exchange, which are not aimed at the acquisition of the titles and/or goods, but only a possible profit from…

An economic recovery, following a recession, where the economy as a whole increases, but the unemployment rate remains high or even continues to rise over a period of time. This effect may be a…

A body set up by decision of the EU Commission in January 2009 to continue the work of the Interim Working Committee on Financial Conglomerates in a new form. The committee is to support…

An international group bringing together financial regulatory representatives from banking, insurance and securities. Its main objective is to develop principles for the supervision of financial conglomerates. It works under the international bodies for these…

In the context of Basel II, a body composed of representatives of the Capital Group and the Models Task Force with the purpose of advising on issues related to the securitization of exposures. –…

Unless otherwise defined, the capital that must be available when a stock corporation (share capital) or limited liability company (paid-in capital) is formed. – See main contribution. Attention: The financial encyclopedia is protected by…

Bodies established within the framework of European banking supervision comprising the ECB and national supervisory authorities with the aim of drawing up and applying uniform supervisory rules. – Cf. Deutsche Bundesbank Monthly Report of…

Unless otherwise defined, in the financial market, the – usually temporary, project-related – coming together of several financial service providers to jointly finance an investment according to defined shares. – See Alliances, cross-border, Lead…

Working group consisting of representatives of various specialist bodies that deals, among other things, with the valuation of financial instruments. – Cf. ECB Monthly Bulletin, February 2004, pp. 77 f. Attention: The financial encyclopedia…

A measure is introduced – by the central bank, by the government – and then withdrawn again soon afterwards. As a rule, the withdrawal of the decision is not associated with factual reasons but…

In stock market parlance, a share that is highly volatile, moving up and down similar to a yo-yo (yo-yo is a toy consisting of a spool attached to a string, the end of which…

The exemption of specialist journalists from the supervision of financial analysts pursuant to Section 34b of the German Securities Trading Act (WpHG), provided they are subject to appropriate professional self-regulation. However, the Federal Financial…

A term frequently used in older financial language meaning – to keep the accounts à jour; up-to-date; – at the bank – and generally at a company – to enter incoming and outgoing documents…

A festive event aimed at a broad public, i.e. not only customers, with the intention of attracting new customers in this way. – In the case of banks, the provisions of Section 7 of…

A coin or medal issued occasionally to commemorate a feast day (commemorative coin, commemorative medal); also called jubilee thaler, jubilee florin, and similar in old documents. – Special payment to employees on the occasion…

An issue of securities for a high nominal amount, often in excess of EUR 1 bn. Jumbo bonds are mainly issued by governments and sovereign or supranational institutions, but in Europe often also by…

Pfandbriefe with a very high issue volume, in Germany of at least EUR 1 billion. Such bonds are usually characterized by good tradability, and thus also by the possibility of rapid liquidation of individual…

In addition to the equity tranche, another term for the first loss piece: in the case of a securitization, the first, subordinated and therefore, in accordance with the waterfall principle, first loss-absorbing (but also…

High-risk bonds issued by companies with doubtful solvency; in other words, they have a poor rating. There is a high risk of default, but at the same time an unusually high interest rate is…

In relation to the EU, the requirement that each of the individual member states must be guaranteed a balance between financing contributions to the Community on the one hand and returns from the Community…