English

Plastic card containing a chip (chip: thin semiconductor wafer, usually consisting of a silicon crystal wafer, on which an integrated circuit or a system of integrated circuits with microelectronic components and switching elements is…

In some German territorial states, a special charge on market transactions of chocolate. The basic ingredient cocoa [pronunciation in Germany mostly two-syllable Ka-Kau, in Switzerland and southern Germany three-syllable Ka-ka-o] – coming to Europe…

In some German territorial states, a special charge on market transactions of chocolate. The basic ingredient cocoa [pronunciation in Germany mostly two-syllable Ka-Kau, in Switzerland and southern Germany three-syllable Ka-ka-o] – coming to Europe…

A contractual provision, particularly common in global engagements, which specifies which (supervisory) law is to govern the agreed transaction. – In particular, also a provision on which law should govern in the case of…

Contractual Agreement on an interest rate cap, in Europe mostly based on the six-monthEURIBOR. In contrast to a normal cap, however, only part of the future interest periods is hedged in the form of…

A market condition where prices swing up and down significantly but with no resulting overall price movement in either direction. – See Bollinger Bands, Volatility. Attention: The financial encyclopedia is protected by copyright and…

In the ecclesiastical sphere, a payment, sometimes still customary today, to the members of a singing group (Kirchenchor; church choir, Kantorei; chauntry) that – performs musical pieces such as chorales, cantatas, and oratorios, –…

The art of planned, purposeful instruction on how to handle money or wealth for a person’s personal benefit; in other words, practical, applied chremagogy. – It was claimed that there was no need for…

A person’s inherent fear of money. It is seen as dangerous, threatening and disastrous for one’s own person. This attitude is explained – by money psychology – by missing or wrong instructions for the…

In older documents, the science of money (Greek: chrema = the money); today still sometimes disparagingly called so in literature circles (people with little or even no connection with the economic reality, believing they…

In older literature, the science of the proper use of money at all levels.- See argyromania, chremagogy, chremaphobia, chrematology, avarice, money ethics, money Europeans, money philosophy, money psychology, money pride, money obsession, greed, misochrematism,…

Formerly, in Catholic areas, often – at the baptism of a child or – at confirmation (chrismation. confirmation: a Christian rite administered to baptized persons, regarded as a sacrament endowing gifts of the Holy…

The doctrine that the dominant force in the economy and society is gold (by extension, precious metals). – See chrysomania, finance capital, monetary domination, plutocracy, wealth. Attention: The financial encyclopedia is protected by copyright…

Generally, an excessively intense enthusiasm (addiction) for the precious metal gold; the greed for gold. – In older documents, the insistent desire of a business partner to be satisfied exclusively with coins of gold.…

The art of transmutation of a common metal into gold (the alchemical gold-making), which was highly respected in earlier times. Of course, there is not a single known case where this was actually achieved.…

A payment made by members of the faith directly to the local church congregation on a voluntary basis or on the basis of a guideline determined by the respective representative assembly; to be distinguished…

Formerly the fee for special official acts of a clergyman, also called candle money. – Older term for the salary of a civil servant, also called Bestallungsgeld; bestallen = here: to appoint someone to…

Special form of church seat money. When a church was built or renovated, worshippers used to be able to purchase a seat in the house of God for a certain period of time or…

In general, the number of customers a company loses in a specific period (in its broadest sense: the number of customers moving out over a specific period of time). – In the case of…

A stockbroker or bank trades excessively and unnecessarily for a client account in order to enrich itself in additional commission income. – See churning, kick back, client referral, snake trading. – Cf. 2001 Annual…

A stockbroker or bank trades excessively and unnecessarily for a client account in order to enrich itself in additional commission income. – See churning, kick back, client referral, snake trading. – Cf. 2001 Annual…

A frequent turnover of an investment account by a broker contrary to the interests of the client with the intention of obtaining high commission income (an unethical practice used by some stockbrokers in an…

A tax levied by municipalities on the cinema industry, usually calculated as a percentage of admission tickets sold. It is a sub-type of the entertainment tax and in 2009 brought in around EUR 6…

stocks): The value of shares issued by issuers domiciled in Germany is recorded statistically by Deutsche Bundebank and published in the respective monthly report in the statistical section under the heading “Capital market” with…

With regard to money, the amount – sometimes also related to the value – of banknotes and coins in a currency area at a given time (circulation refers to the total amount or value…

With regard to money, the amount – sometimes also related to the value – of banknotes and coins in a currency area at a given time (circulation refers to the total amount or value…

According to the definition in § 2 of the German “Verordnung zur Konkretisierung des Verbots der Kurs- und Marktmanipulation (KuMaKV)” of November 18, 2003, this includes – all facts and value judgments that are…

According to the definition in § 2 of the German “Verordnung zur Konkretisierung des Verbots der Kurs- und Marktmanipulation (KuMaKV)” of November 18, 2003, this includes – all facts and value judgments that are…

In the summer of 2009, the U.S. Attorney General published a list according to which Citigroup Inc., headquartered in New York and active worldwide, received USD 45 billion in direct government aid; in addition,…

A group of traders from the world’s largest financial services provider at the time, Citigroup Corporation (known in the jargon as “Citi”), threw government bonds worth around EUR 12 billion onto the market within…

Some investors join forces to finance a solar plant (solar installation, solar plant). The German Federal Financial Supervisory Authority (BaFin) has pointed out on several occasions that in Germany, the offering of such companies,…

In stock exchange reports, originally only referring to the banks in London, since about 1995 in German reports mostly referring to Frankfurt am Main instead. – See Bankfurt. Attention: The financial encyclopedia is protected…

A tax on motor vehicles entering the inner-city area (city center). – See tree toll, bridge toll, causeway toll, dam toll, entrance toll, ferry toll, ford toll, toll, bribe, tax, gate toll, transit toll,…

The right of a customer to demand the execution of an order placed on the stock exchange. In Germany, such a claim currently exists only in floor trading, but not in electronic trading or…

The right to request payment of benefits under the terms of an insurance policy. – The right to receive cost-of-living assistance from the state when circumstances are legally established (meeting the eligibility requirements). –…

an asset item that is not being repaid on time and has been labeled as a troubled asset. – See asset, classified. Attention: The financial encyclopedia is protected by copyright and may only be…

In the financial market, a contractual reservation according to which any fluctuations (oscillations: fluctuations above and below a mean value) in the exchange rate may not be to the detriment of one of the…

Bonuses and premiums paid to employees (executives, “key men”) of an institution can be reclaimed in accordance with the contract if it turns out that the commitments made only bring a short-term profit, but…

In the case of a financial instrument in general and a bond in particular, the current price without accrued interest, i.e. without calculating the interest accrued in the meantime (transaction price excluding any rebate/accrued…

In the context of a securitization, a contractual option on the part of the originator or servicer (sponsor) to repurchase or cancel securitization exposures before all underlying exposures have been closed out if the…

In the context of a speculative bubble, the central bank’s efforts to limit damage after a bubble has burst, for example by providing generous liquidity. – However, it cannot be the central bank’s task…

The payment of customs duty for a ship, certified by a clearance slip. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor…

In the case of institutions, the mutual offsetting (balancing, netting out; in older documents for netting also exequation) of interbank liabilities against interbank claims; the remaining balance is settled in central bank money. In…

In older publications, an institution that is particularly focused on remittances, which is now a normal service area of a bank. Attention: The financial encyclopedia is protected by copyright and may only be used…

Settlement system for interbank clearing (= a set of procedures whereby financial institutions present and exchange data and/or documents relating to funds or securities transfers to other financial institutions at a single location), established…

Securities settlement agent of Deutsche Börse Group and Deutsche Bundesbank, based in Eschborn. – See settlement system, check collection system, image-based. Attention: The financial encyclopedia is protected by copyright and may only be used…

In the financial market as a component of the intangibles of an institution – the existing customer base as a numerical quantity – weighted with the loyalty of the customers to the institution (customer…

A derogatory term for an economy in which personal relationships essentially determine the course of events, and scarce resources are therefore not allocated to the best host (pejorative expression, denoting a type of free…

Efforts by a bank to offer its entire knowledge to a customer as advantageously as possible, so that the bank customer conducts all transactions only with this one institution. Today, sophisticated segmentation analyses are…

Primarily on commodity exchanges in the U.S., an order executed by one broker for the client of another broker. After the order is filled, the transaction is returned to the regular broker; only the…

High-interest-bearing securities are predominantly purchased by investors who are in a low tax bracket (investors who face low tax rates). In contrast, low-yielding securities tend to be purchased by people who are in the…

In relation to the financial market, the fact that securities suddenly lose value when they are classified as less liquid by rule makers or the supervisory authority. – In the course of Basel III,…

A term that emerged after 2000 to refer to the fact that – climate warming (overall warming) is occurring worldwide as a result of the growing emission of carbon dioxide (carbon emissions), as a…

A capital management company that invests exclusively or primarily in collateralized debt obligations. Loans are purchased in order to issue structured bonds on this basis. Repayment of the loans granted is ensured by servicing…

According to Article 1 No. 26 of Directive 2000/12/EC of the Parliament and of the Council of the European Community of 20 March 2000 relating to the taking up and pursuit of the business…

According to Article 1 No. 26 of Directive 2000/12/EC of the Parliament and of the Council of the European Community of 20 March 2000 relating to the taking up and pursuit of the business…

The premature termination of a contract – with compensation payment of the market value and – simultaneous conclusion of a new transaction – for the duration of the remaining term of the original transaction,…

The process of offsetting existing contracts one legal second before the insolvency of a partner on the part of the clearing house (to prevent further losses from positions carried by the entity that has…

A close-to-balance financial statement, also called – misleadingly (mistakable) – negative balance. – After a transaction has been settled, there is no profit, but the expenses for the commitment are largely covered. Attention: The…

The case where the shares of a company are held in only a few hands (a company which voting rights are held by a relatively small circle of shareholders, e.g. founder’s family, or strategic…

The legal conclusion and coming into force of a contract in the financial market (the process of signing all the legal documents allowing the coming into force of an arrangement, such as an equity…

Price range within the last two minutes of a trading session. – The last quoted price for a particular security during a trading session (the last price a security traded at the end of…

The buying or selling on a stock exchange towards the close of the trading session (the buying or selling at the end of the trading session at a price within the closing range). This…

The point in time after which a bank no longer accepts bookings. Amounts received after this deadline – also electronically – or transferred to another account are posted on the following day (the deadline…

In economics textbooks, said of an intermediate exchange consisting of articles of clothing, and here again especially of furs, as formerly among the aborigines of North America and Canada. – Occasionally used in statistics…

An account set up for a specific purpose and funded by regular deposits (savings account offered by a financial institution to investors looking to save for particular purpose). This also includes – which the…

An account set up for a specific purpose and funded by regular deposits (savings account offered by a financial institution to investors looking to save for particular purpose). This also includes – which the…

A middle ground between conventional two-sided financing according to the corporate customer/bank scheme and a syndicated loan. In most cases, two to a maximum of five banks, usually led by the house bank, participate…

In relation to financial services, special offers to so-called peer groups, namely to circles of people with the same or similar life circle or interests. – See churn rate, bank, church, relationship banking, dinks…

In the language of financial journalists, the aforementioned four members of the Eurozone, with some also adding Italy. At present, these still have similar economic conditions, namely, above all, lower productivity growth with higher…

In the case of institutions and especially brokerage firms, said of a person who (co-)established the company and is involved in its business operations (a member of the staff who formed the financial institution).…

A contract under which a risk is shared on a percentage basis between the insurance company and the policyholder (an insurance policy under which the policyholder bears a percentage of the loss together with…

When two firms merge, the probability of default on either firm’s debt decreases. This theorem is believed to be proven by financial history; others, however, rightly dispute its generality. – See Blind-Deaf Connection, Mergers…

In general, the participation in an investment with a minority share. The monitoring of the entire commitment is taken over by a main investor (lead investor), so that the support effort for the co-investor…

In the narrower sense, shares in mining companies. – Securities and, in particular, shares issued by the coal mining and iron and steel industries. They played an important role in Europe until the first…

A monetary policy measure (in general: an economic policy measure) must take into account any subsequent incentive effects on market participants. Otherwise, the desired objective could be reversed. – The British colonial administration in…

Card issued by a bank jointly with one or more nonbanking companies to exploit the partners’ customer potential (cobranding generally means an arrangement whereby a product or service is associated with more than one…

The tracing of a supply and demand cycle in which there is a relatively long time between the incentive to produce more due to increased market prices on the one hand and the result…

The tracing of a supply and demand cycle in which there is a relatively long time between the incentive to produce more due to increased market prices on the one hand and the result…

Unless otherwise defined, in financial parlance this means – the return of a bank to its home country after it has been active abroad or – the withdrawal into the original, ancestral line of…

A set of rules, particularly for stock corporations in the U.S., which sets out certain rules of conduct for the management board and supervisory board members. According to this code, managers and supervisory board…

A set of rules, particularly for stock corporations in the U.S., which sets out certain rules of conduct for the management board and supervisory board members. According to this code, managers and supervisory board…

In the context of monetary policy, said of – central bank pronouncements, – in which words or phrases recognizable to experts – such as: “we see with great concern…” – are interwoven, – from…

A collection box often set up in doctors’ offices, hospitals and other service establishments to receive tips from patients and visitors. The money thus received is usually used to purchase coffee or other beverages…

In the 18th century, many sovereign decrees in Germany prohibited the consumption of coffee altogether. Even the possession of coffee mills was sometimes declared a criminal offense. – In other areas, coffee was subject…

In earlier times, very important for trade in Germany, agreements between the holders of a coin registry on the approximation or mutual recognition of the respective gold and silver coins, also called coin conventions.…

Formerly the determination of how many coins may be minted from a weight unit of precious metal. – For the Germany of that time, Emperor Ferdinand I enacted the Imperial Coinage in 1559. Eight…

Gold alloy with a fineness of at least 899/1000. – See bullion coins, precious copper, precious metals, karat, noise gold. Attention: The financial encyclopedia is protected by copyright and may only be used for…

The holding back and accumulation of coins beyond that required for current payment transactions. Today, this is primarily due to the widespread tendency to collect, as in the case of euro coins with different…

Generally and colloquially, any – minted or cast piece of metal – in round or square form – bearing an inscription and an indication of value, – without regard to its present use as…

Coins issued in the EMU have a fitness for circulation of twenty to thirty years. Only then do they have to be sorted out and replaced by new pieces. – See Coinage Demand Planning.…

Unless otherwise defined, the cross-border circulation of euro coins within the euro area. In contrast to banknotes, coins can be assigned to the respective issuing member state on the basis of the national reverse…

From numerous experiments with test subjects all over the world, it is an indisputable fact that coins – of the same weight and metal mixture, – some of which were made thinner and larger,…

The forecasting of the demand for coins in a currency area and the timely adjustment of supply by the authority responsible for this purpose. – See Coin life. – Cf. Deutsche Bundesbank Monthly Report,…

Self-service device provided by banks through which banknotes can be exchanged for coin rolls (an apparatus for use in dispensing coin rolls). – See Cash handling. Attention: The financial encyclopedia is protected by copyright…

A slot in vending machines and ticket machines for inserting coins in particular – or, more rarely, bills. – Most vending machines today also have a device that allows the corresponding amount to be…

) The production of a coin by cold forming of a planchet [coin blank in the form of a metal disc] between two dies and a ferrule through high pressure. In this way, the…

A contractual agreement (Convention Monétaire) made in 1865 between France, Belgium, Italy, Greece and Switzerland (from 1868 Greece and from 1889 Romania, also Austria, Bulgaria, Venezuela, Serbia, Montenegro, San Marino and the Papal State…

An agreement reached in 1872 between Sweden and Denmark under which each country’s coins, and later its banknotes, were valid in both countries. Norway, which at that time was in personal union with Sweden…

Coin made of inferior metal at the core, with a plating of gold or silver on the outside. This is also referred to as a lined coin in the older literature. Such a coinage…