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In Islamic banking, this is understood to mean an interest-free, earmarked loan to the poor. As a rule, the granting of such a loan requires the recommendation of a religious authority; the loans are…

Unless otherwise defined, the EU Commission’s amending directive on the introduction of Solvency-II. Originally, Solvency-II was to come into force on November 1, 2012. Quick Fix had postponed the date for national implementation of…

Ratio used to determine the degree of liquidity of a company. Unless otherwise stated, it is calculated from the ratio of cash plus receivables plus securities to current liabilities (indicator to measure a company’s…

In older documents, a Dutch silver coin with a face value of one shilling. However, its metal value, measured in silver price, was less than the face value. – See mangle, ejector money, doublé…

With regard to the financial market, this is defined in Section 1 (15) of the German Banking Act (KWG) as a person or company that – holds at least ten percent of the capital…

EU directive aimed at making long-term equity investments in an insurance company or bank by a natural or legal person transparent. The respective supervisory authority may, if necessary, prohibit the acquisition or increase of…

In measuring inflation, the problem is that in a market-driven economy the supply of goods is constantly changing (increasing product differentiation: a development toward additional and supplementary as well as improved goods), and that…

In relation to the financial sector, the planned, thoughtful search for ways to improve a financial product and, if possible, also reduce costs (a methodical exploration for various possible arrangements to improve a financial…

The ability and intention of an investment advisor to recommend a particular investment to the customer. – In the course of the financial crisis that followed the subprime crisis, serious accusations were made against…

A policy of a central bank that is solely or nevertheless predominantly focused on the provision of a quantity of money that it has in mind, and not or hardly on interest rates. –…

Studies conducted by the supervisory authority together with the institutions concerned prior to the introduction of new supervisory regulations, usually on a voluntary basis. Their purpose is to show how a new regulation affects…

Stress Test for Insurance Companies. – Cf. BaFin Annual Report 2005, p. 55 (report on calculations according to the new valuation principles), BaFin Annual Report 2009, p. 56 (proposals of the Financial Requirements Expert…

In its simple form, the observation that if the money supply increases at the same velocity of circulation, the price of goods will rise unless the trading volume (the total quantity of goods available…

In the case of a structured financial product, the trading currency here, assuming: EUR, is different from the currency of the underlying (reference base; assumed: USD). However, the risk of an unfavorable exchange rate…

In older documents, the amount of money or asset to be contributed by each party in a joint business venture. – See share, margin. Attention: The financial encyclopedia is protected by copyright and may…

Payments due when a ship is not allowed to call at a port for disease-hygienic reasons due to official order and must anchor at sea; see § 621 HGB. – See Pratika money. Attention:…

In ancient documents, a regionally common charge for a quas (ceremonial meal, banquet: feast, gala meal, banquet), formerly usually organized by a guild on a specific day each year. – See Tafelgeld. Attention: The…

Old term for any kind of quarterly payment, formerly especially for priests, bell-ringers, sextons and midwives. – Formerly the quarterly fee payable by a mine operator to the mining authority for mining rights. –…

A tax of various kinds payable by ships that – moor at the quay (quai: mole, seawall, breakwater) or pier (dock), – discharge (unload, unship) or load goods there, or – today, especially on…

When the financial crisis hit in the fall of 2008, the British monarch Elizabeth II asked with astonishment why none of the experts, especially at the central bank and in the ministries, had foreseen…

Unless otherwise defined, in the financial sector, the expenses incurred by a bank in obtaining creditworthiness information on a loan applicant. This fee is usually charged to the customer. Attention: The financial encyclopedia is…

Tender procedure used at the ECB for fixed-term contracts in fine-tuning operations. – Quick tenders are usually announced only ninety minutes in advance and executed within one hour. However, they may also occur on…

Tender procedure used at the ECB for fixed-term contracts in fine-tuning operations. – Quick tenders are usually announced only ninety minutes in advance and executed within one hour. However, they may also occur on…

In old documents, a levy on livestock owners, usually calculated by the number of animals. – Means of payment in the virtual world (virtual community) “Quickland”. – See bitcoins, jack money, bitcoins, money duration…

In England said for one pound (British slang for one pound [£ 1] in British Sterling [GBP]). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without…

Security granting a share in the net assets of a stock corporation. In Germany, only par value shares have been permitted to date, i.e. securities representing a share in a specific monetary amount. Attention:…

In financial language, the stock market price of an asset – security, commodity – on the stock exchange (a statement of the current market price of a listed asset). Attention: The financial encyclopedia is…

Estimated price of a security, i.e., a price that has not been arrived at through an actual transaction, whether on or off the exchange (the approximate price of a security when there is no…

On German stock exchanges, securities with higher turnover are quoted continuously during trading hours (the current price of a share is continuously displayed as the highest bid and lowest offer [ask price], along with…

In the course of high-frequency trading on the stock exchange, a trader sends out a large number of orders per second, only to cancel them again immediately without executing them. The resulting high rate…

Listed shares of companies that primarily manufacture or distribute consumer goods, such as: Nestlé, Jelmoli, Metro. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express…

A security that is listed on the stock exchange. – The market value of an asset in general and of a listed security in particular. – See fair value, value. Attention: The financial encyclopedia…