English

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 monetary policy), ECB Monthly Bulletin of October 2010, pp. 52 f. (time series for the vacancy rate in the euro area)…. read more »

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 factors being equal, the closer an option is to being in the money, the greater is the impact of an increase… read more »

Special type of asset-backed securities, a non-significant proportion of which are now privately placed in the euro area. These are securities issued by special purpose vehicles, where the special purpose vehicle in turn has bonds issued by corporations or banks [collateralized bond obligation] or bank loans [collateralized loan obligation] in its portfolio (debt securities issued… read more »

The production potential of an economy is partially idle. Whether monetary policy can change this situation is difficult to answer in general terms, especially since the causes of underutilization can be very different. – See potential labor force, capacity utilization rate, female employment rate, infrastructure, capacity utilization, Phillips theorem, potential growth, output gap, Say’s law,… read more »

In older financial terminology, often used for collateral in the sense of depositing an asset in order to increase the probability that a creditor of a claim will also be repaid the claim together with interest. – See loan, secured, pledge, pledge money, security, security deposit, security money, underlay. Attention: The financial encyclopedia is protected… read more »

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 borrowers, required by Basel II. – See calibration, rating, risk profile, discriminatory power. – Cf. Deutsche Bundesbank Monthly Report of September… read more »

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 and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard… read more »

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 account is considered effective resp. an interest calculation begins). – According to the terms and conditions of many banks, interest is… read more »

In jargon, a designation that is equivalent to an urgent recommendation to exit an engagement. The opposite of a buy recommendation is called overweight (a recommendation for investors to decrease their engagement in a particular security, sector, asset class, or market. The opposite it called overweight). – See credit rating, downrating, rating adjustment, rating migration,… read more »

In Germany today, this term usually refers only to private schools and, more rarely, to universities (tuition fees). In older documents, fees for schools are also called instruction fees. – See Beleggeld, Fremdenschulgeld, Hörergeld, Mofageld, Oppidanengeld, Schreibschulgeld. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express… read more »