English

If not otherwise defined, the consideration of suspending the EU Treaty for those member states that have strayed far from the Maastricht criterion of “sound public finances” – the budget deficit may not exceed…

For an institution, the projected excess of revenues over expenses over a specified period of time, and unless otherwise stated, over a fiscal year. – See profit. – Cf. Deutsche Bundesbank Monthly Report, March…

Popular name for all types of cards used in payment transactions instead of cash (credit cards, debit cards, smart cards, etc.). – See chip card, money, electronic, cash card, card, framework for European card…

Commonly used generic term in older documents for coins made of pure silver (a coin made of silver); as opposed to vellon (vellon), a coin made of a copper-silver alloy or even pure copper.…

A bill, printed small card, or token (chip, token) representing a certain amount and used among gamblers as a substitute for money. – The stake in a game of chance (gambling game), expressed as…

A bill, printed small card, or token (chip, token) representing a certain amount and used among gamblers as a substitute for money. – The stake in a game of chance (gambling game), expressed as…

A tax on the production of playing cards that applied in many German territorial states and was later also adopted by the Reich. The use of playing cards not stamped with an official stamp…

A tax on the production of playing cards that applied in many German territorial states and was later also adopted by the Reich. The use of playing cards not stamped with an official stamp…

A loan on a movable pledge, such as securities, which is taken into the creditor’s own management, e.g. in his hand, in contrast to a pledge loan, which relates to an immovable pledge, such…

The delivery of an asset in order to secure the performance of an obligation by one party [the debtor] vis-à-vis another [the secured party]. For the secured party, a pledge creates a security interest…

A loan taken against the deposit of an asset at the bank; the pledged items are also called pignoratitia in older financial language. – A sum of money initially paid for an object such…

Formerly said of a thin sheet of (precious) metal. – A former Swedish coin, first made of silver, later of copper. Attention: The financial encyclopedia is protected by copyright and may only be used…

In older documents, a payment to the lord of the manor in discharge of the obligation (Fron; soccage) to plow (plough) the manorial land personally and with his own equipment and draught cattle on…

In financial jargon, a profitable operation (informal expression denoting a profitable business; it derives from the traditional practice of showing positive numbers in black, and negative numbers in red). Correspondingly, one also speaks of…

A customer is charged a price that is far too high than the value of the item purchased or the service provided (someone is charged a price that is much too high). Such behavior…

Term frequently used in older publications and especially in the socialist accusatory literature of the 19th century against the marked-based economy. It refers to the concentration of wealth and power in the hands of…

Word that has entered financial language for a severe downgrade. – Plutoed (to demote or devalue someone or something with considerable cause) was the word of the year in the U.S. in 2006, after…

A sum paid to individuals (such as top managers, football players, musicians, theater people) when they leave their contract and enter the service of the payer. – The boundary between enticement money and welcome…

The transfer of cash to juveniles not yet in gainful employment by parents and relatives (spending money; slush money). – According to § 46 StVollzG-NRW, the prison pays out an appropriate sum of money…

The transfer of cash to juveniles not yet in gainful employment by parents and relatives (spending money; slush money). – According to § 46 StVollzG-NRW, the prison pays out an appropriate sum of money…

When quoted on U.S. stock exchanges, one point is equal to 1.00 USD. – The point between thousands and hundreds of a number, which is still widely used in Germany, for example: 1,000 for…

A place of business, branch, store. – The place where a transfer of means of payment in the form of cash or by means of a card) takes place (the location of a store…

Generally a defense measure against hostile mergers and takeovers (takeover defense measure public companies use against hostile takeovers and designed to make the target unattractive) sometimes also called Shark Repellent. – A distinction is…

In older documents, this term was synonymous with “interior administration,” which also included the ordering of money as a separate area. – Police science (policy science) and cameral science (cameralia; cameral science) were the…

A charge levied by some municipalities for the use of law enforcement officers in certain cases, such as intervening in an inn scuffle or recording a damage survey of a minor automobile accident (US:…

Trading platform for used life insurance policies offered in Germany on the Hamburg and Hanover stock exchanges since fall 2008. This secondary market thus offers the opportunity to trade life insurance policies in accordance…

Special form of loan in which a life insurance policy is deposited as collateral. The surrender value stated in the policy then also determines the maximum loan amount. As a rule, lenders therefore waive…

The central bank conducts business that it is not authorized to do. – Before 1914, for example, the Bank of England occasionally sold Treasury bills, which it had obtained by granting loans to the…

The central bank announces its measures more or less clearly to the public in advance, primarily through its president. The advantages, namely that the markets can prepare themselves in good time for corresponding interest…

A term that emerged around 2010 in connection with the Greek and Irish crises, meaning that the European unification process planned for the long term must take precedence over the current difficulties of individual…

Individuals suspected in connection with money laundering and counterterrorism, as well as their family and trusted associates. A guidance document published in June 2013 by the Financial Action Task Force on Money Laundering (FATF),…

A predecessor of the income tax, known since antiquity, in which each person was generally taxed the same amount (a tax of a uniform, fixed amount per individual), without regard to his ability to…

In the jargon of central bankers – an ego-addicted scientist, union official or politician, – who loudly addresses the central bank with effective publicity, – usually with the demand to lower interest rates. –…

In older financial language, a very rich citizen. – See finance capital, money people, high finance, capital, oldie business, plutocracy. Attention: The financial encyclopedia is protected by copyright and may only be used for…

Fraudulent scheme in which, under the pretense of generated profits, previous investors are served with the money from the deposits of newly acquired investors (a manoeuvre intended to defraud investors in which no new…

Fraudulent scheme in which, under the pretense of generated profits, previous investors are served with the money from the deposits of newly acquired investors (a manoeuvre intended to defraud investors in which no new…

In general, a community of interests for the purpose of carrying out joint measures or for direct business cooperation. – In the negative sense, a combination of persons or entities on the financial market…

Generally, a portfolio that usually contains – financial assets – with an average credit risk and – a maturity of more than one year that – are upgraded to a very good credit risk…

In the financial market, generally the pooling, centralization of individual resources in order to achieve a higher profit or reduce a loss (the grouping together of resources [assets, equipment, effort, etc.] for the purpose…

A central bank collateral management system in which counterparties place assets in a pool as collateral for their operations with the central bank in general. – Unlike an earmarking system, a pooling system does…

In the past, the poor box was set up by the parish or the political community and administered by an alms manager (also: almsvogt, Armenvogt, Almosenpfleger, Almosenier, Spendmeister; alms manager, almoner: an official attached…

Earlier form of welfare aid as assistance for subsistence (living). This involved payments by the parish or political community to persons who could not (or could no longer) support themselves out of their own…

In federally structured countries, the expenditures of the nation state increase more rapidly over time than the expenditures of the constituent units. – The reason for this is that, in the course of ongoing…

Earlier payments by the state as a subsidy to the porcelain manufactory. – In the 17th and 18th centuries, porcelain was considered “white gold” and was favored more for reasons of state prestige than…

Payment demanded by shipowners, shippers, storers and (container) stockers – then also in English: storage – for the use of ports and their facilities and equipment; see § 621 HGB. – Payment to be…

The ability to open and process information stored on one computer on other computers within a bank, a group of institutions and, in the broadest sense, beyond, regardless of the operating system in question…

In the financial markets, an Internet provider that aggregates the similar offerings of various financial service providers in a clearly arranged manner, thus enabling improved market transparency at the touch of a button (a…

Sum of all assets – including precious metals and real estate – held by an economic entity (the total of investments held by an institution or an individual). – In a narrower sense, the…

Generally, the payment for carrying burdens by a porter. – In some areas in particular also the payment to those men who carried the coffin in case of deaths in a village community (pallbearer,…

Generally, the payment for carrying burdens by a porter. – In some areas in particular also the payment to those men who carried the coffin in case of deaths in a village community (pallbearer,…

Investors’ decisions about the form in which they make financial investments. – See investment diversification, income seeking, portfolio theories, portfolio rebalancing, interest rate allocation function. – Cf. ECB Monthly Bulletin of January 2005, p.…

All of an investor’s own operations to preserve the value of a portfolio (a type of self-insurance that investors use to minimize potential losses in a portfolio). – A contract in which an insurer,…

In principle, the acquisition of any kind of securities and shares in companies, provided that no influence on the company’s business activities is intended or connected with this (stock and bond purchases that, unlike…

The management of individual assets invested in financial instruments for third parties with decision-making scope (aim to maximise the value of a portfolio by careful examination of candidate projects and programs for inclusion in…

Condition in which a portfolio cannot yield a better return through reallocations. Modeled in many calculations of financial theory, but often of little relevance in practice because of the underlying assumptions (especially the total…

The action of restoring the weightings of a portfolio to an original desired level of asset allocation. If the portfolio has deviated away from one’s target allocation, assets need to be bought or sold…

Unless otherwise defined, the shift of short-term money into long-term financial assets or vice versa, closely monitored by central banks. – If liquidity (in this case, central bank money, namely cash and central bank…

Theories about the best possible financial investment in general and about investment management in particular. – In textbooks, these theories are sometimes presented in a highly mathematical form, but always under certain assumptions and/or…

Unless otherwise defined, an investment in assets that provides the highest expected return for a given level of risk, or equivalently, the lowest risk for a given expected return. Attention: The financial encyclopedia is…

Found in many brochures and even in widely used textbooks, but (intentionally?) unclear, veiled label. The word “optimal” is the third form (superlative) of “good”. But this says nothing about the reference: best in…

Another term for portfolio; that is, the totality of investment in assets held by a person or firm. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes…

At the beginning of 2011, it became clear that Portugal, a member of the Eurosystem, was so heavily indebted that it would hardly be able to regain financial equilibrium on its own. As in…

The cashless payment of goods and services directly at the point of sale using a card. – See cash, community card, computer payment, chip card, money, electronic, card, card, multifunctional, pay green initiative, radio…

A bull market in mining stocks in Australia around 1969, which soon burst (a stock market bubble in which the price of Australian mining shares climbed up in late 1969, then crashed in early…

A transaction that is offset by an opposite but equivalent transaction. – For example, if orange juice futures have been purchased and a call option with the same commodity quantity and tender date is…

Generally, a condition where the assets and liabilities are unequal. – In financial or commodity markets, any forward contract that is not liquidated by an offsetting contract or by the delivery of the underlying…

A hedging strategy that combines futures and futures options for price hedging and profit opportunities. – For example, if a market participant buys a put option and sells (writes) a call option, he can…

A contractual obligation under a forward contract that is not hedged by an opposite position of equal size (the sale of a call or put option without holding an equal and opposite position in…

In connection with a futures contract the term means that the party does not intend to retain ownership of the commodity and prefers cash clearing. – In contracts for the purchase or sale of…

All steps taken by an institution with the aim of making a particular financial product stand out from other competing offers and thus making it desirable for customers (all actions in order to control…

On commodity exchanges in the U.S., contracts that exceed the reportable level established by the relevant regulatory agency or specified in the Commodity Exchange Act. – See Aggregation, Commodity Futures Trading Commission. Attention: The…

A time frequently used in older documents, especially for payment deadlines. This is the date on which the usual government postal service delivers and/or collects items. – In remote places, service by the post…

In general, the follow-up support of customers who have concluded a transaction with a bank. This is also referred to as presales management, meaning all the steps involved in initiating business (initial business contact).…

CESR working group set up in 2007 with the aim of gaining transparency in all technical and legal, including regulatory, matters to be dealt with after a transaction has been concluded on the stock…

In the past, a declaration attached to bills of exchange in which the presenter clears up any ambiguities – formal defects (deficiencies associated with technicalities), such as in relation to the due date: here,…

The purchase or sale of a security not at the current price but at a past price agreed upon between the parties (a security should be bought or sold according to an agreed upon…

According to the Markets in Financial Instruments Directive, institutions must publicly disclose their off-exchange purchases and sales of shares admitted to a regulated market in the European Economic Area to other market participants. The…

The charge for a service provided by companies that transport and deliver letters and parcels (postal service providers). As a rule, postage is to be paid in advance (the charge is to be paid…

Securities formerly issued in Germany by the Postscheckämter (established in 1909; predecessor of the Postbank), which could be redeemed at almost any post office, and which therefore enjoyed broad acceptance and great popularity. –…

In the past, the state postal service also collected receivables, including bills of exchange, for a fee. To do this, the customer had to fill out a form specifically designed for this purpose. This…

Savings book issued by Postbank – formerly known in Germany as Postscheckamt from its founding in 1909 until 1978, then renamed Postgiroamt in 1989; since the end of 2010, Deutsche Bank AG has been…

Payments made by the postal service, formerly in Germany by its own money letter carrier (postman who delivers money orders), mostly to private households. Still important today in the U.S. and other countries for…

A form of check that used to be widespread in Germany as well, which – printed on a postcard and – was in principle only cashable at the bank of the precisely designated payee.…

In the parlance of institutes, a person who spreads in-house news of all kinds. – See delator, gossip. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes…

In older documents, also the government’s request to the chamber responsible for appropriating funds (Landstände; estates of the country) for the allocation of money for certain government tasks, often also combined with a request…

a fund. Now still often said in reference to the accumulated and distributable winnings in lotto, toto and similar games of chance, the jackpot (jack pot). – See fund economy, title. Attention: The financial…

a fund. Now still often said in reference to the accumulated and distributable winnings in lotto, toto and similar games of chance, the jackpot (jack pot). – See fund economy, title. Attention: The financial…

The growth in gross domestic product in a given year in the event of full utilization of existing production capacities. – Potential growth thus indicates the extent to which an economy can grow without…

A derogatory term that emerged after 2010 in relation to the financial market. It is intended to express the fact that international investors are paying very close attention to a country’s economic policy. If…

Old unit of weight on which the coinage was based. – The Charlemagne pound – introduced by Charlemagne in 747/768-814 and valid in Germany from about 800 – had a weight of 367.1 g…

In German maritime cities, a (special) tax on ships and their goods. – A levy on the feudal lord as owner (Latin name of the levy: LAUDEMIA) as soon as an unfree property underwent…

In England in the Middle Ages, a tax levied from time to time on imported goods, calculated according to their value in pounds sterling or according to their weight in pounds = 453.59237 grams.…

Generally, an economic hardship that persistently determines the living situation. It is usually distinguished an – absolute poverty (destitution), in which basic human needs such as water, food, clothing, shelter, health care and schooling…

The ability attributed to banks – to exert a decisive influence on the behavior of the economy and society (power over) and – to achieve this goal without having to submit to external resistance…

Financial services, especially adapted to people in the age group between 50 and 80 (power age). – See all-age products, dinks business, denture investment, money people, geomarketing, banking, oldie business, singleïsierung, woopee business. Attention:…

A word that is also frequently used in the field of finance to mean acting in accordance with relevant principles and expert knowledge underlying the activity (theoretical grounding, scientific basis). – The totality of…

At its meeting in Prague in September 2000, the International Monetary and Financial Committee of the International Monetary Fund (IMF) decided that, in the event of a sovereign default, private creditors should henceforth also…

In older documents, the payment made by a ship entering from an epidemic area to obtain pratika (pratique), namely – the official permission to land in port (the license to enter port on conviction…

Payment to men and women, mostly in old age, who pray for the salvation of a person’s soul, especially in case of death, also called Betbrüder und Betschwestern (old men or matrons engaged and…

In relation to bookbuilding, the dispatch of analyst studies to potential – usually institutional – investors with the aim of sounding out their willingness to buy. Often, this is also used to find out…