English

Because the construction sector – accounts for almost twenty percent of industrial value added in the euro area, – is highly input-intensive (characterized by considerable advance inputs) and in one also – is relatively…

In the carrying business, a surcharge on the freight charge for items that take up a relatively large amount of space (bulky goods such as furniture, whitegoods [white goods: electrical household appliances, especially refrigerators,…

In the carrying business, a surcharge on the freight charge for items that take up a relatively large amount of space (bulky goods such as furniture, whitegoods [white goods: electrical household appliances, especially refrigerators,…

Term for the market participant expecting a price increase; a bull. – In financial jargon, also a male individual who moves toward a targeted goal without regard for anything (any male individual who possesses…

On commodity exchanges – the purchase of a call option with a low strike price – while simultaneously selling a call option with a higher strike price. – Here, the market participant expects rising…

The general tendency for prices to increase in a market, especially in the stock market. – The expansionary part of a business cycle in which gross national product is rising rapidly. – See bear…

A term that emerged around 2000 to describe the fact that when stock prices rise – households that own stocks feel richer, so they buy more, as well as take out loans to buy…

Hausse-Manöver): The price of a security is pushed up by feigning trading volumes. Most of the cases that have become known so far concern securities traded in the over-the-counter market. – See stock market…

The combination of a put option with a call option on the same underlying. The exercise dates of the two options are the same; however, the long position has a lower strike price than…

A bond issued in England and regularly in London, but not denominated in GBP (foreign bond issue made in the United Kingdom and more specifically in London). Because London issues are inexpensive and relatively…

Unless otherwise defined, the non-GBP-denominated turnover on the financial market in England in general and in London in particular (the foreign market in the United Kingdom and more specifically in London). – The financial…

A loan for which the total loan debt, i.e. the amount borrowed plus interest, is repaid at once at the end of the term. – A loan for which only the interest is payable…

endfällige Zahlung): The discharge of a liability at the end of its term by a single payment. – See balloon loan, loan, bullet, fulfillment, free years, close-out. Attention: The financial encyclopedia is protected by…

Precious metal in the form of bars. To be tradable, the bullion – in older financial language also: the ingot and the lingot; ingot – requires an assay stamp to protect it against counterfeits,…

In contrast to means of payment, a piece of money that is traded – at its respective price for the weight of precious metal or – at its collector’s value. – See coin, numismatics.…

Unless otherwise defined, means a futures contract on a German federal bond. – See Bobl future. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express…

A group of banks formed in Germany in 1998 to underwrite issues of the Federal Republic of Germany by tender from the Federal Republic of Germany Finance Agency. Members of the Bidding Group may…

Major parafiscal agency whose surpluses and deficits are included in the general budget and are important for financial stability. – See health insurance, statutory, long-term care insurance, tax financing. – Cf. Monthly Report of…

The Bonn-based agency’s responsibilities include the taxation of German residents with foreign income and the tax audit of large companies. Other responsibilities include the supervision of the family benefit equalization scheme, the supervision of…

German federal agency under the Ministry of the Interior, headquartered in Bonn. Founded in 1991, the agency’s general task is to prevent computer failure, computer misuse and computer crime. As part of this, it…

The supervisory powers for – banks, – securities trading and – insurance business, as well as – the overarching areas and products of the financial markets (such as Internet business, asset management, investor and…

Former supervisory authority for all securities trading in the Federal Republic of Germany, based in Frankfurt am Main. In particular, the tasks of the office included – monitoring rules of conduct and organizational duties,…

Former supervisory authority based in Bonn with wide-ranging responsibilities, mainly: – licensing of banks and cancellation of licensing, – examination of the reliability and suitability of managers, – shareholder control, – monitoring of the…

In Germany, decentralized authorities located at the respective head finance office; their responsibility is basically based on the territorial principle. In addition to payment transactions for all federal authorities, the tasks of a federal…

Securities issued in Germany by the Federal Government with – a term of five years. They are tap issues with – a fixed nominal interest rate and – variable issue prices. In the medium-term…

Private-sector agency established in 2001 to act as a bond broker and obtain the most favorable terms possible for government debt. It is responsible for the operational business as a whole. Only the interest…

Securities issued in Germany by the Federal Government at quarterly intervals (March, June, September, December) with a maturity of two years. In principle, anyone can purchase them. In the tender procedure, however, banks belonging…

Older name for the Federal Securities Administration, which was incorporated as a department of the Federal Republic of Germany Finance Agency GmbH on August 1, 2006…. Attention: The financial encyclopedia is protected by copyright…

The authority, which is based in Bonn, supervises social insurance institutions and facilities that are indirectly owned by the federal government. As the supervisory authority, the Federal Social Insurance Authority primarily exercises the advisory…

Administrative authority for the debts of the Federal Republic of Germany, based in Bad Homburg (Taunus). The authority – which until the end of 2001 was called the “Bundesschuldenverwaltung” (Federal Debt Administration) – is…

A batch of orders – in payment transactions, in securities trading – is combined and settled (gets fulfilled in a single work step). – See Iceberg order, card batch. Attention: The financial encyclopedia is…

money or money equivalents as jobs in business and public administration funded to young men and women for participating in erotic revelries [= fun parties with at the most sexual engagements] arranged by powerful…

Earlier fee that a bondsman (bunze; villein) had to pay when he married. – See bride money, wedding money, wreath money. Attention: The financial encyclopedia is protected by copyright and may only be used…

A company which, in return for contributions, provides its members with benefits in the event of the death (decease) of the insured person. In earlier times, such an institution was also known as a…

A company which, in return for contributions, provides its members with benefits in the event of the death (decease) of the insured person. In earlier times, such an institution was also known as a…

The outflow of money within a certain period of time – month, year – within the build-up phase, during the start-up of a company. – The time during which a company has used up…

Restart): A company in trouble – usually on the sales side – is turned around from the ground up. This includes debt relief and the injection of fresh capital. – See Ausschlachten, buyout capital,…

At universities, an organizational unit that handles the entire financial management, from receipt of accounts to reporting. – Authority that collects and administers the road toll, especially in South Tyrol. – In Italy (and…

In old documents, such coins minted in ‘s-Hertogenbosch (North Brabant, Netherlands). – Special allowance in addition to military pay for soldiers on ground-level military exercises in the field, also called Geländezaster (all-terrain brass; Zaster:…

Used in financial language in various meanings – and therein seems to lie its advantage – especially for trade, business, business life, economy, matter, operation, trade, profession, thing, enterprise, work, vigor, and a number…

A knowledgeable person, especially experienced in accounting and financial market processes, who takes on a kind of mentorship (mentoring: a relationship between an experienced person and a less experienced person for the purpose of…

In financial terminology, a contractual partner of an institution that is not a private household or a public body. – See business partner, customer. Attention: The financial encyclopedia is protected by copyright and may…

Assessment of expectations in the economy derived from statistically recorded variables and surveys. Such expectations are of great importance for forward-looking economic policy in general and for central bank policy. – See behavioral finance,…

Assessment of expectations in the economy derived from statistically recorded variables and surveys. Such expectations are of great importance for forward-looking economic policy in general and for central bank policy. – See behavioral finance,…

Companies’ assessment of current and future business developments. This is a very important parameter for economic policy measures in general and central bank policy in particular, and changes in it are measured and taken…

In the case of an institution, the ability to carry out ongoing business operations without interruption (the state of uninterrupted business operations). In detail, this includes all the organizational, technical and staffing measures employed…

Work instructions designed to ensure the uninterrupted functioning of payment systems even in the event of various types of disruptions, especially power failures. The corresponding instructions refer both to the avoidance of such events…

Payment transactions – such as travel expenses – in a company are processed between an employee and the company via a cash card. In this case – either the company extends the existing contract…

Broad-based, recurring medium-term fluctuations (oscillations: fluctuations above and below a mean value) in economic activity. The empirical recording of the sequence of ups and downs, which is associated with many problems, is very important…

The ECB continuously monitors economic fluctuations in the euro area (the cyclical ups and downs of the overall economic situation and of individual sectors) in various ways, especially by means of surveys. This is…

Measures taken by government economic policy to smooth the business cycle and thus facilitate and stabilize economic growth. Of course, these measures have a chance of success only if the monetary measure remains unchanged.…

The collection of figures – of the economic cycle variables in their entirety, such as production, consumption, investment – as well as the collection, to the greatest possible extent, of all the individual components…

In finance, said of all activities (business operations), of any active doing (traffic; active action, commercial activity) in pursuit of a goal, and roughly corresponding to the term transaction. The word, derived from “create,”…

In the older literature, there were wide-ranging treatises on the need for a company to hold a bridgeover amount in cash between receipt of payment and payment dates. Many of the considerations in this…

Transactions through which one creates assets or becomes a creditor. In the case of a bank, primarily loans. – See assets, buy-and-hold practice, loans, receivables, mortgage bank, liability business. Attention: The financial encyclopedia is…

In the case of banks, the contractual transfer of significant business areas that characterize the activities of a bank – such as: Trade finance, foreign exchange trading, derivatives trading – to another institution. –…

An establishment – as an entity in which factors of production are constantly combined for the purpose of producing marketable goods and/or services (marketable goods) in accordance with economic rationality – in the market…

An establishment – as an entity in which factors of production are constantly combined for the purpose of producing marketable goods and/or services (marketable goods) in accordance with economic rationality – in the market…

All areas of a company’s activities whose execution is directly linked to the achievement of the company’s objective – formally: the generation of profit. – Sometimes, control procedures are separated from operational business. These…

Financial services prohibited by the supervisory authorities. For Germany, these are listed in Section 3 of the German Banking Act (Werksparkassen, Zwecksparunternehmen, Unbarinstitute) and are threatened with immediate closure of the relevant institution by…

In the past, an income received by the farmer’s wife (farmers’ wife, peasant woman) by agreement defining marriage rights, or conventionally, for her free use, from her provision of dairy services on the farm,…

Option position expressing a certain caution, consisting of a total of four contracts with the same expiration date and thereby – the purchase of an option with a low exercise price (strike price), –…

Thieves who used to work almost commercially, cutting off silver and gold or even gem-studded buttons from the clothing of both ladies and gentlemen, especially in carriages and on ferries as well as at…

An investor buys bonds with a loan that he pledges to the bank as collateral (a transaction in which an investor borrows to buy bonds, using the bonds themselves as collateral). As a rule,…

An investor buys papers and keeps them in his portfolio until maturity (a passive investment policy with no active buying and selling of papers from the time the portfolio is created until the end…

Unless otherwise defined, an exit agreement in contracts for shares. Shareholder A offers to sell his shares to Shareholder B at a price of x. Shareholder B – either accepts the offer and buys…

Investors willing to buy on the financial market, especially institutional investors (the community of buyers of securities, in particular such as mutual funds, corporate treasurers with excess liquidity). Attention: The financial encyclopedia is protected…

Supply exceeds demand; the result is falling prices. – See market, soft. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr.…

In the financial market, especially at banks and capital management companies, a widespread body of experts from various departments – above all also actuaries, lawyers and tax experts – with the task of advising…

In stock market jargon, the general tendency of buyers to purchase securities. Little animation among buyers means that investors are reluctant to place orders. – See Graveyard market. Attention: The financial encyclopedia is protected…

Unless otherwise defined, this refers to purchases of securities on the secondary market by a central bank, which thus indirectly finances the government. – In the wake of the Greek crisis, for example, the…

The acquisition of a controlling interest or the acquisition of a controlling majority of the shares in a company. If this is done by the management, it is also referred to as a management…

Equity provided to a company facing fundamental changes in production or market strategy (capital provided in an established private or publicly listed firm that is undergoing a fundamental change in production or market strategy).…