English

In older documents, a fee that merchants had to pay when offering goods for sale in the former Turkish territory (a market charge for merchants in the former Turkish territory). – See market fee,…

In older documents, a fee that merchants had to pay when offering goods for sale in the former Turkish territory (a market charge for merchants in the former Turkish territory). – See market fee,…

A legal or regulatory requirement for banks to post in the banking hall the general terms and conditions and any other information, such as interest rates on deposits. – See haggling. Attention: The financial…

In earlier times, at first handwritten, later printed conversion tables for the multitude of foreign money – also of measure and weight -, in older literature also called Faullenzer (in this orthographical form; so…

Formerly a fee payable on the extraction of tachet (= potter’s earth, clay: a natural earthy substance that is malleable when wet, and used typically for making bricks, pottery, stoneware and ceramics). Attention: The…

Formerly a fee payable on the extraction of tachet (= potter’s earth, clay: a natural earthy substance that is malleable when wet, and used typically for making bricks, pottery, stoneware and ceramics). Attention: The…

Traditional Chinese weight measure for precious metals, still used to some extent in Asia today. 1 tael = 37.429 grams; bullions (ingots, bars) of 1 and 5 taels are customary. Attention: The financial encyclopedia…

Traditional Chinese weight measure for precious metals, still used to some extent in Asia today. 1 tael = 37.429 grams; bullions (ingots, bars) of 1 and 5 taels are customary. Attention: The financial encyclopedia…

The contractually defined right of an investor to sell his shares if other contractual partners, such as owners, shareholders or a bank, sell their shares. As a rule, this right to sell also includes…

The contractually defined right of an investor to sell his shares if other contractual partners, such as owners, shareholders or a bank, sell their shares. As a rule, this right to sell also includes…

A charge levied on air travelers by the airport operator or regional authority on whose territory the airport is located, often staggered according to domestic and international flights. The revenue is generally earmarked for…

The transfer, the transfer of money from a bank to a borrower under a loan agreement, loan commitment, or line of credit. – See call term, call risk, downside risk, account, auto-balanced, forward risk,…

A promise by a bank to provide a long-term mortgage loan upon satisfactory completion of a building (A and CH: collaudierung und Kollaudation; final inspection and acceptance). – See construction industry, construction progress loan,…

A raider suddenly and unexpectedly informs a company that he intends to acquire it and demands an immediate decision from the target company (a takeover approach in which the acquirer – without previous warning…

A raider suddenly and unexpectedly informs a company that he intends to acquire it and demands an immediate decision from the target company (a takeover approach in which the acquirer – without previous warning…

A public offer by a bidder aimed at acquiring or controlling a stock corporation or a partnership limited by shares (the attempt to buy a company, either in a hostile or friendly manner). –…

A public offer by a bidder aimed at acquiring or controlling a stock corporation or a partnership limited by shares (the attempt to buy a company, either in a hostile or friendly manner). –…

In Germany, a body tasked with supporting the German Federal Financial Supervisory Authority in its supervision under the German Securities Acquisition and Takeover Act (WpÜG). Since January 1, 2002, this Act has regulated the…

In Germany, a body tasked with supporting the German Federal Financial Supervisory Authority in its supervision under the German Securities Acquisition and Takeover Act (WpÜG). Since January 1, 2002, this Act has regulated the…

Unless otherwise defined, the acquisition of control of one company by another (the purchase of one company [the target] by another [the acquirer, or bidder]). – See shareholder vote chase, stock swap takeover, asset…

Unless otherwise defined, the acquisition of control of one company by another (the purchase of one company [the target] by another [the acquirer, or bidder]). – See shareholder vote chase, stock swap takeover, asset…

Basic ancient unit of weight and money in silver. Regionally and temporally, the weight – between twenty and forty kilograms – and thus the purchasing power varied considerably. – At the time of Jesus,…

Basic ancient unit of weight and money in silver. Regionally and temporally, the weight – between twenty and forty kilograms – and thus the purchasing power varied considerably. – At the time of Jesus,…

A renewal certificate for securities entitling the holder to receive a new series of coupons or dividend coupons upon presentation (presentation: to put before a person for acceptance). – In games, unissued cards or…

A renewal certificate for securities entitling the holder to receive a new series of coupons or dividend coupons upon presentation (presentation: to put before a person for acceptance). – In games, unissued cards or…

An imperial tax introduced in Germany in 1909 on the issue of new interest and dividend coupons. The dividend warrant is part of the sheet of a share and entitles the holder to receive…

An imperial tax introduced in Germany in 1909 on the issue of new interest and dividend coupons. The dividend warrant is part of the sheet of a share and entitles the holder to receive…

In older documents, a common game token of the time, namely a stamped metal piece made of brass – formerly produced mainly in Nuremberg and Fürth – or also made of silver and gold…

In older documents, a common game token of the time, namely a stamped metal piece made of brass – formerly produced mainly in Nuremberg and Fürth – or also made of silver and gold…

In German territorial states, a fee formerly payable by innkeepers for permission to hold dance entertainments on their premises. As a rule, the amount of the payment depended on the number of dancers. The…

In German territorial states, a fee formerly payable by innkeepers for permission to hold dance entertainments on their premises. As a rule, the amount of the payment depended on the number of dancers. The…

A public bond; sometimes also said of a Treasury bill (tap bill). – An issue that is brought to market in separate tranches (tranches: the tap-issue has the exact same maturity and exact same…

A public bond; sometimes also said of a Treasury bill (tap bill). – An issue that is brought to market in separate tranches (tranches: the tap-issue has the exact same maturity and exact same…

Until 2008, savings banks and cooperative banks in particular were able to offer securities to the public without a prospectus if the corresponding securities were issued on a continuous or repeated basis. This privilege…

In jargon, of persons who persistently sit in front of a computer screen, monitor prices and turnover, and seek to deduce the market trend from them (a person who monitors up to the point…

the decision of a central bank to end a particular measure, usually a purchasing program: As a monetary policy-related term, the decision of a central bank to end a special measure, usually a purchasing…

Payment system composed of one real-time gross settlement system (RTGS) each of those Member States that are members of the Eurosystem. The national RTGS systems are interconnected through the interlinking system, enabling same-day processing…

Payment system composed of one real-time gross settlement system (RTGS) each of those Member States that are members of the Eurosystem. The national RTGS systems are interconnected through the interlinking system, enabling same-day processing…

Settlement system set up by the ECB for securities transfers – more precisely, transactions paid for by institutions with central bank money; also referred to as settlement business – in the euro area. The…

Settlement system set up by the ECB for securities transfers – more precisely, transactions paid for by institutions with central bank money; also referred to as settlement business – in the euro area. The…

By the beginning of 2013, the Deutsche Bundesbank had accumulated a good 650 billion in claims against the central banks of the EMU members from the southern front. Marketable debt instruments were replaced by…

By the beginning of 2013, the Deutsche Bundesbank had accumulated a good 650 billion in claims against the central banks of the EMU members from the southern front. Marketable debt instruments were replaced by…

Generally, a schedule of prices. – A schedule of charges for the import or export of certain goods, a customs tariff. (customs tariff). – Schedule of traffic rates (schedule of traffic rates). – A…

Generally, a schedule of prices. – A schedule of charges for the import or export of certain goods, a customs tariff. (customs tariff). – Schedule of traffic rates (schedule of traffic rates). – A…

A risk surcharge charged in private health insurance when an insured person switches from one tariff to another. – In a high court decision in 2010, tariff structure surcharges were declared illegal. – See…

A risk surcharge charged in private health insurance when an insured person switches from one tariff to another. – In a high court decision in 2010, tariff structure surcharges were declared illegal. – See…

Working group set up by the L3 bodies with the aim of identifying contagion effects and cross-pillar risks to financial stability at an early stage. – Cf. BaFin Annual Report 2008, p. 44 (establishment…

Working group set up by the L3 bodies with the aim of identifying contagion effects and cross-pillar risks to financial stability at an early stage. – Cf. BaFin Annual Report 2008, p. 44 (establishment…

Fiduciary (tax adviser, tax consultant): Although tax advisers inevitably gain confidential knowledge in securities service companies, the employee guidelines do not yet apply to them. The same is true for auditors. – See Public…

Fiduciary (tax adviser, tax consultant): Although tax advisors inevitably gain confidential knowledge in securities service companies, the employee guidelines do not yet apply to them. The same is true for auditors. – See Public…

The total share of taxes and tax-like payments that a company or private household has to pay to the state. In 2010, the ratio in the calculation Total of Taxes to Gross Domestic Product…

The policy of – individual states or – member states within a country – such as the cantons and municipalities in Switzerland, where it is legally permitted under Article 129 of the Federal Constitution…

The policy of – individual states or – member states within a country – such as the cantons and municipalities in Switzerland, where it is legally permitted under Article 129 of the Federal Constitution…

In Germany, banks are prohibited by the applicable Tax Advisory Act (StBerG) from providing advice to customers on the tax treatment of transactions. An exception applies only insofar as, according to § 4 StBerG,…

In Germany, banks are prohibited by the applicable Tax Advisory Act (StBerG) from providing advice to customers on the tax treatment of transactions. An exception applies only insofar as, according to § 4 StBerG,…

The suspension or even repayment of a tax liability if the taxable company or private household fulfills certain conditions; for example, if a company makes investments during a period of economic depression or a…

The suspension or even repayment of a tax liability if the taxable company or private household fulfills certain conditions; for example, if a company makes investments during a period of economic depression or a…

The fact that, in a tax system based on nominal values and even progressive in rate, the tax burden on households and businesses rises disproportionately in the presence of inflation, severely inhibiting real growth.…

The fact that, in a tax system based on nominal values and even progressive in rate, the tax burden on households and businesses rises disproportionately in the presence of inflation, severely inhibiting real growth.…

In the case of a planned company takeover, the professional examination with regard to possible tax liabilities (tax due) in Germany and abroad. – See due diligence, earn-out clause, mergers and acquisitions, purchase price…

In the case of a planned company takeover, the professional examination with regard to possible tax liabilities (tax due) in Germany and abroad. – See due diligence, earn-out clause, mergers and acquisitions, purchase price…

Individual territories – e.g. Estonia – of a larger economic area – e.g. the EU – set their tax rates for individuals or companies very low, or even forgo taxation altogether for a certain…

Individual territories – e.g. Estonia – of a larger economic area – e.g. the EU – set their tax rates for individuals or companies very low, or even forgo taxation altogether for a certain…

The partial or total exemption of a taxpayer from the obligation to pay tax. Examples include non-profit institutions or companies that are taxed at their foreign headquarters and are exempt from certain taxes in…

The partial or total exemption of a taxpayer from the obligation to pay tax. Examples include non-profit institutions or companies that are taxed at their foreign headquarters and are exempt from certain taxes in…

The allocation of money to individuals, businesses, or statutory corporations with no payback requirements (financial assistance the government gives to eligible individuals, businesses, or statutory corporations with no payback requirements). – As soon as…

The allocation of money to individuals, businesses, or statutory corporations with no payback requirements (financial assistance the government gives to eligible individuals, businesses, or statutory corporations with no payback requirements). – As soon as…

Areas that levy significantly lower tax rates than their neighbors and thus attract mainly high income earners and wealthy individuals. – In Germany before 1914, the cities of Bonn and Wiesbaden were considered tax…

Areas that levy significantly lower tax rates than their neighbors and thus attract mainly high income earners and wealthy individuals. – In Germany before 1914, the cities of Bonn and Wiesbaden were considered tax…

The fact that at In other words, the marginal rate of tax (the additional tax to be paid when income increases by one income unit) rises steeply. At the same time, tax-free allowances lose…

The fact that at In other words, the marginal rate of tax (the additional tax to be paid when income increases by one income unit) rises steeply. At the same time, tax-free allowances lose…

Interest charged by the financial administration of a state on tax arrears; it represents compensation for the use by the defaulting taxpayer of the money due to the state. – A distinction is made…

Interest charged by the financial administration of a state on tax arrears; it represents compensation for the use by the defaulting taxpayer of money due to the state. – A distinction is made between…

The ratio of taxes levied to gross domestic product. In Germany, this ratio was just under 24 percent in 2009. – Above a certain level of tax burden, this causes skilled workers and companies…

The ratio of taxes levied to gross domestic product. In Germany, this ratio was just under 24 percent in 2009. – Above a certain level of tax burden, this causes skilled workers and companies…

Days on which certain taxes are due and paid to the Treasury. They are characterized by large amounts of money flowing from corporate and household accounts to government accounts. The tax due dates therefore…

Days on which certain taxes are due and paid to the Treasury. They are characterized by large amounts of money flowing from corporate and household accounts to government accounts. The tax due dates therefore…

The share of government taxes in gross domestic product, and directly dependent on the tax rate as the ratio of the compulsory levy to be paid to the tax base, in this case primarily…

The share of government taxes in gross domestic product, and directly dependent on the tax rate as the ratio of the compulsory levy to be paid to the tax base, in this case primarily…

The value of a security as determined by the tax administration, as used in the calculation of tax liability. – See rate, value. Attention: The financial encyclopedia is protected by copyright and may only…

The value of a security as determined by the tax administration, as used in the calculation of tax liability. – See rate, value. Attention: The financial encyclopedia is protected by copyright and may only…

Estimated market price – generally for an asset and – in particular for a security for which there are currently no buy or sell orders on the stock exchange. – See mark-to-model approach, panic…

Estimated market price – generally for an asset and – in particular for a security for which there are currently no buy or sell orders on the stock exchange. – See mark-to-model approach, panic…

Participants in a monetary union such as EMU try to attract foreign investors “behind” the single monetary policy through low (corporate) taxation. – Experience shows that even a comparatively high tax burden ratio is…

Participants in a monetary union such as EMU try to attract foreign investors “behind” the single monetary policy through low (corporate) taxation. – Experience shows that even a comparatively high tax burden ratio is…

In the case of a bank, the possibility of at least partially offsetting losses from non-performing loans (bad-debt losses) against tax liabilities. – The tax law provisions on this vary from country to country,…

In the case of a bank, the possibility of at least partially offsetting losses from non-performing loans (bad-debt losses) against tax liabilities. – The tax law provisions on this vary from country to country,…

Unless otherwise defined, advice given by a bank to a customer on how to make an investment in a tax-efficient manner. – In Germany, banks are generally not permitted to provide individual tax advice.…

Unless otherwise defined, advice given by a bank to a customer on how to make an investment in a tax-efficient manner. – In Germany, banks are generally not permitted to provide individual tax advice.…

a mutual fund that invests in securities supposed to have given fund shareholders the least possible tax liability. – See equity fund, unit certificate, order fund, bogey, financial intermediaries, real estate fund, net asset…

a mutual fund that invests in securities supposed to have given fund shareholders the least possible tax liability. – See equity fund, unit certificate, order fund, bogey, financial intermediaries, real estate fund, net asset…

For the purpose of saving costly tax authorities, already proposed by older economists such as Johann Heinrich Jung-Stilling (1740-1817). According to this, each taxpayer calculates his tax liability himself on the basis of the…

Generally used for a monetary charge, contribution, fee, postage, price, tax, tariff. – The amount of money formerly paid for the carriage of persons and baggage by stagecoach. This sum regularly included also –…

Generally used for a monetary charge, contribution, fee, postage, price, tax, tariff. – The amount of money formerly paid for the carriage of persons and baggage by stagecoach. This sum regularly included also –…

Often presented in the form of a linear equation, the relationship between a reduction in the value of money and the expected consequences. – According to this rule, the central bank reacts immediately to…

Often presented in the form of a linear equation, the relationship between a reduction in the value of money and the expected consequences. – According to this rule, the central bank reacts immediately to…

In relation to the stock market in general, analysts who use technical analysis. – Specifically, analysts who rely exclusively on bar charts to assess future prices on the stock market. – See analyst, charts,…

In relation to the stock market in general, analysts who use technical analysis. – Specifically, analysts who rely exclusively on bar charts to assess future prices on the stock market. – See analyst, charts,…

This type of operational risk includes – risks in the area of communications, such as errors due to poor data transmission, for example in the case of fax machines, – risks in data capture…

This type of operational risk includes – risks in the area of communications, such as errors due to poor data transmission, for example in the case of fax machines, – risks in data capture…