English

In the language of the supervisory authority, the group of factoring and leasing companies. – Cf. Annual Report 2012 of BaFin, p. 157 f. (designation; composition of the group, supervisory action). Attention: The financial…

In the language of the supervisory authority, the group of factoring and leasing companies. – Cf. Annual Report 2012 of BaFin, p. 157 f. (designation; composition of the group, supervisory action). Attention: The financial…

In statistics, the ratio of vacancies to the labor force. – See unemployment rate, two-pillar principle. – Cf. ECB Monthly Bulletin of February 2002, pp. 33 f. (information content of the vacancy rate for…

In statistics, the ratio of vacancies to the labor force. – See unemployment rate, two-pillar principle. – Cf. ECB Monthly Bulletin of February 2002, pp. 33 f. (information content of the vacancy rate for…

The share of unrented real estate, both commercial and residential. Central banks monitor this ratio because, among other things, it allows conclusions to be drawn about the expected, input-intensive (characterized by considerable advance inputs)…

In financial language also said of a list of all stock market holidays applicable for the respective year (stock market holidays, customary recess; recess = here: a temporary cessation of the customary activities of…

Expenditure incurred by private individuals during the vacation period; in the narrower sense, related to travel and money spent on accommodation and meals. – A special payment made by an employer to an employee…

Expenditures made by private individuals during the vacation period; in the narrower sense, related to travel and money spent on accommodation and meals. – A special payment made by an employer to an employee…

Unless otherwise defined, the fund established by donor countries (Canada, Italy, Norway, Russia and the United Kingdom) and private sponsors such as the Bill & Melinda Gates Foundation in 2007 on the initiative of…

Generally, the determination of the degree of accuracy and exactness of a measuring device. – In particular, the regular review of rating systems used internally by banks to determine the credit risk of individual…

Generally, the determination of the degree of accuracy and exactness of a measuring device. – In particular, the regular review of rating systems used internally by banks to determine the credit risk of individual…

At the ECB, the date on which the underlying assets of credit operations are valued. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!…

Consideration of possible changes in the value of credit protection instruments – such as securities, shares, life insurance contracts – in the banking business. – At the central bank: Risk mitigation measure for collateral…

The fact that (almost) all human actions consume limited resources, which (have to) be measured in money. – Also all so-called cultural work[s] is under this constraint; because whether a concert or a church…

The value of a nominally constant asset (such as a bond denominated in 100 GE) must be adjusted downward because of a drop in market price. – See depreciation, valuation, debt-equity swap, factoring, unreal,…

In the case of an insurance company, the difference between the market value of the assets and the book values shown in the balance sheet; roughly: the difference between the acquisition cost and the…

In the case of banks, the net balance for the valuation of loans, receivables and securities, including markdowns on bonds. – See Valuation, recording, insolvency. – Cf. in detail Deutsche Bundesbank Monthly Report of…

Means of payment in foreign currency. – Value of the money of a country or currency community such as the euro area in relation to the value of the money of other countries. –…

Means of payment in foreign currency. – Value of the money of a country or currency community such as the euro area in relation to the value of the money of other countries. –…

A term frequently used by banks for the value date of entries, i.e. the date from which a credit or debit is made or interest calculation begins (the date when the entry to an…

A term frequently used by banks for the value date of entries, i.e. the date from which a credit or debit is made or interest calculation begins (the date when the entry to an…

A hedge fund that chiefly sells shares and bonds of companies with a momentarily high quotation and buys shares and bonds that are considered to be undervalued in price (a hedge fund that chiefly…

A hedge fund that chiefly sells shares and bonds of companies with a momentarily high quotation and buys shares and bonds that are considered to be undervalued in price (a hedge fund that chiefly…

In terms of maintaining a portfolio, the attempt to sell components that are currently very highly valued due to special circumstances and to use the proceeds to add instantaneously undervalued (it is assumed that…

In terms of maintaining a portfolio, the attempt to sell components that are currently very highly valued due to special circumstances and to use the proceeds to add instantaneously undervalued (it is assumed that…

A distinction is made between the intrinsic value and the time value of an option during its term. The time value depends on the assessment of the future price development of the underlying asset.…

The quantity of goods that one unit of money can buy on the domestic market, i.e. the internal purchasing power. The value of money is thus in inverse relationship (reciprocal relationship) to the price…

Generally – the reduction of costs by favorable procurement and – with banks particularly the advantageous purchase of the titles and precious metals intended for the resale. – See Waste Watcher. Attention: The financial…

Generally – the reduction of costs by favorable procurement and – with banks particularly the advantageous purchase of the titles and precious metals intended for the resale. – See Waste Watcher. Attention: The financial…

Possible loss of a position or a portfolio – during a certain period (= risk horizon), which – with a previously defined probability (= confidence level) – will not be exceeded (an investor’s maximum…

Possible loss of a position or a portfolio – during a certain period (= risk horizon), which – with a previously defined probability (= confidence level) – will not be exceeded (an investor’s maximum…

A term that emerged with the subprime crisis in 2007 to describe seemingly highly creditworthy issues – even those of top addresses, i.e. not dingo securities of dubious issuers or even financial vultures –…

An issue with the usual, typical market features (a security issue that has all the standard. i.e. generally prevailing features and no unusual provisions). – See issue, continuous issue. – See the annex entitled…

Econometric simulation of all effects of interest rate changes, first on the money market and then on other economic variables. The aim is to obtain reliable impulse-response functions from which the likely impact of…

Econometric simulation of all effects of interest rate changes, first on the money market and then on other economic variables. The aim is to obtain reliable impulse-response functions from which the likely impact of…

In the U.S., a special form of special purpose entity governed by law (FIN 46). In more detail, it is – a legally autonomous economic entity whose equity provider – is not considered the…

In the U.S., a special form of special purpose entity governed by law (FIN 46). In more detail, it is – a legally autonomous economic entity whose equity provider – is not considered the…

In relation to the financial market, a statistical measure of the risk of a particular individual investment or portfolio. It is roughly calculated from the deviation of the individual respective returns from the average…

In relation to the financial market, a statistical measure of the risk of a particular individual investment or portfolio. It is roughly calculated from the deviation of the individual respective returns from the average…

The adjustment of a contract to changes in price of the underlying instrument that have occurred in the meantime. – See initial margin, variation margin. Attention: The financial encyclopedia is protected by copyright and…

The ECB requires the value of the underlying assets to remain within a certain margin during the life of a liquidity-providing reverse transaction. If the market price of the underlying assets, which is recalculated…

The ECB requires the value of the underlying assets to remain within a certain margin during the life of a liquidity-providing reverse transaction. If the market price of the underlying assets, which is recalculated…

Generally, until the 19th century, pure paper money issued by the state administration without compulsory acceptance; also known as a pay voucher. However, the fact that the voucher could be used to redeem state…

Generally, until the 19th century, pure paper money issued by the state administration without compulsory acceptance; also known as a pay voucher. However, the fact that the voucher could be used to redeem state…

The dependence of the price movement of an option on the volatility of the underlying (the rate of change in the derivative of the theoretical value of the option vis-à-vis implied volatility. All he…

The dependence of the price movement of an option on the volatility of the underlying (the rate of change in the derivative of the theoretical value of the option vis-à-vis implied volatility. All he…

A national means of payment preferred by issuers for issues worldwide; currently, practically the USD, EUR, CHF and JPY. – See dollarization, issue currency, value clause. Attention: The financial encyclopedia is protected by copyright…

A national means of payment preferred by issuers worldwide for issuances; currently practically the USD, EUR, CHF and JPY. – See dollarization, issue currency, value clause. Attention: The financial encyclopedia is protected by copyright…

In older documents relating to an investment, the principal willingness to make such an investment. However, the investor has not yet decided on a specific investment or/and on a specific point in time. Attention:…

In older documents relating to an investment, the principal willingness to make such an investment. However, the investor has not yet decided on a specific investment or/and on a specific point in time. Attention:…

A vendor grants a loan to a buyer so that the buyer can use this money to purchase goods from the vendor (the lending of money by a company to one of its customers…

A vendor grants a loan to a buyer so that the buyer can use this money to purchase goods from the vendor (the lending of money by a company to one of its customers…

A company exclusively dedicated to the acquisition, holding, management and sale of venture capital investments, in the form of shares, shares in a limited liability company, limited partnership shares, participation as a general partner…

A company exclusively dedicated to the acquisition, holding, management and sale of venture capital investments, in the form of shares, shares in a limited liability company, limited partnership shares, participation as a general partner…

A special fund that holds high-risk exposures. – See Vulture Fund. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard…

A special fund that holds high-risk exposures. – See Vulture Fund. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard…

A fee that is still regularly paid to authorities today for the confirmation of conformity (attestation of conformity) of an original document with the copy made of it (copy, in older documents also tansum[p]t).…

At an institution, all measures aimed at ensuring – that the order placed by a customer is unambiguously attributable to the originator, i.e., that no unauthorized person uses his name, and – that an…

the nominal form of a verb made into a noun] (performance, yield): Often said in older financial literature for yield, to be worthwhile, to bring in something, to earn interest, to yield profit, to…

the nominal form of a verb made into a noun] (performance, yield): Often said in older financial literature for yield, to be worthwhile, to bring in something, to earn interest, to yield profit, to…

In the case of pension funds, the defined period of time after which employees acquire an entitlement from the amounts paid in by the employer (the time period in which employees have accrued ownership…

The ability of product or service to enter into market and probably to make a profit. – See Achievable. Attention: The financial encyclopedia is protected by copyright and may only be used for private…

When preparing the financial statements of a bank and of a company in general, all entities that are dependent on the reporting company as a result of voting rights must be included (voting control…

In the financial reporting of a bank and of a company in general, all entities that are dependent on the reporting company as a result of voting rights must be included (voting control rule).…

A form by which a stockholder of a corporation designates a proxy to attend the stockholders’ meeting. The right of a shareholder to send out a proxy is required by law in most countries…

A form by which a stockholder of a corporation designates a proxy to attend the stockholders’ meeting. The right of a shareholder to send out a proxy is required by law in most countries…

In Germany, the Federal Financial Supervisory Authority (BaFin) has set up a public information center on significant voting rights in companies listed on the Official Market. It can be accessed via the institution’s homepage…

In Germany, the Federal Financial Supervisory Authority (BaFin) has set up a public information center on significant voting rights in companies listed on the Official Market. It can be accessed via the institution’s homepage…

In relation to the financial market, any evidence that certifies a transaction, usually in paper form (a customarily written statement that bears witness or verifies any transaction; for example providing evidence that services have…

A written document or an electronic voucher that guarantees the holder the purchase of a good – such as the new creation of a confectioner – or a service – such as the examination…

The effects of a ten percent decline in demand on production and employment in – a company, – a branch, a region. a national economy, or an economic territory (the effects of a ten…