English

Share issued in Germany after World War I (1918) by various stock corporations with multiple voting rights with the intention of preventing domestic companies from being acquired by foreigners. – See Sneak-up, Shareholder Control,…

Share issued in Germany after World War I (1918) by various stock corporations with multiple voting rights with the intention of preventing domestic companies from being acquired by foreigners. – See Sneak-up, Shareholder Control,…

The limitation of pending losses on the purchase or sale of securities and assets generally by specifying a price above which demand or supply is suspended for the time being (an action taken to…

The limitation of pending losses on the purchase or sale of securities and assets in general by specifying a price above which demand or supply is suspended for the time being (an action taken…

A term that emerged around 2005 to describe the fact that protein-containing foods, i.e. foods rich in protein, have risen extraordinarily in price globally since around 2000, which then has a relatively strong impact…

In older financial language, the legal detention on account of a bill not accepted or not paid when due (declaration of non-payment of a bill). – See protestation. Attention: The financial encyclopedia is protected…

In older documents, the declaration of a billholder that he has fulfilled his obligations on time and in the right place, along with safekeeping against any damage. – See protest. Attention: The financial encyclopedia…

In older documents, payment partly in money and partly in kind to farmhands and maids working in agriculture. – See employer’s loan, building money, fitting money, fringe benefits, house money deduction, cost money. Attention:…

In Germany until the beginning of the 20th century, funds set up by the state from which poor communities, such as in the Eifel (Eifel relief fund; “Eifelfonds”), received grants. – See Fiscal agent,…

A derogatory term in Germany for senior employees of provincial banks. – The disdain (contempt) probably derives primarily from the fact that the corresponding positions are largely dependent on the respective party’s banner. This…

Public bonds issued not by the central government but by constituent states (countries, districts, cantons, provinces). – See Minhas-Gerais problem, state. – For public debtor groups (also broken down by individual euro area countries),…

Unless otherwise defined, the provision of liquidity by a central bank to meet its liquidity needs. – In principle, the ECB has to ensure the supply of liquidity to solvent banks and can thus…

In older documents, term for brokerage: the amount payable to an intermediary – agent, negotiator, broker, proxy (fee or commission to act as intermediary between buyer and seller). – See brokerage. Attention: The financial…

Person authorized to act for another, in relation to the financial market especially at the general meeting of a company. (the shareholder mandates a third party, which may or may not be a shareholder,…

Particularly prudent investment strategy for funds in pension plans, prescribed by law or enforced by supervisory authorities. The formula, also used internationally and in German, is explained in Section 1104 of the U.S. Employee…

Technical word from supervisory law, referring to the activity of supervisory authorities. The adjective (proper noun) comes from Latin; there PRUDENTER means “with prudence”, “with forethought”. – See supervision, macroprudential, supervision, microprudential, supervisory authorities,…

Certain approaches required by regulatory law for the valuation of own funds, especially for – intangible assets, – deferred taxes and – unrealized gains. The aim is to ensure the sustainability of a bank’s…

A possible exception, especially in U.S. law. In principle, it permits the continuation for some time of activities that have since been reorganized or even prohibited by the supervisory authority (temporarily authorizes the continuation…

The supervisory authorities obtain important information from the annual reports of the auditors. This suggests that the form and content of the reports should be standardized. To this end, the Federal Financial Supervisory Authority…

A term used in forestry (pruning = removal of lower branches to provide clearance and to get a knot-free tree trunk) that entered financial language after 1980; here it means the removal of excess…

In the financial market, the empirically verifiable fact that disturbances in one market segment, such as defaults on consumer loans, have an impact on other areas, even on the market for mortgage bonds, which…

In the financial market, the empirically verifiable fact that disturbances in one market segment, such as defaults on consumer loans, have an impact on other areas, even on the market for mortgage bonds, which…

The support of distressed companies (stricken enterprises) or entire industries by the state. In the course of the financial crisis following the subprime crisis, this was applied in many forms and in almost all…

The support provided by the state to ailing companies (stricken enterprises) or entire industries. In the course of the financial crisis following the subprime crisis, this was applied in many forms and in almost…

Unless otherwise defined, public capital includes all assets owned by the state that – have a permanent value and – yield benefits for the general public. – See assets, physical assets, social capital. Attention:…

Unless otherwise defined, public capital includes all assets owned by the state that – have a permanent value and – yield benefits for the general public. – See assets, physical assets, social capital. Attention:…

Disparaging designation (derogatory naming) of the organizational structure of German banks, as was prevalent until about 1980 and was also widely perceived as such by customers. – See churn rate, bank officer, bank counter,…

An authority established in the USA as part of the Sarbanes-Oxley Act of 2002 and attached to the Securities and Exchange Commission (SEC), which is responsible for the unqualified audit of the annual financial…

A list, called for by some, of all loans granted by banks in a currency area – and perhaps also to whom; i.e. not limited to large loans, as is already the case. Such…

All liabilities of the state, as meant primarily in connection with the EU Treaty or the Treaty on the Functioning of the European Union (TFEU). – In the summer of 2009, the EU decided…

All liabilities of the state, as meant primarily in connection with the EU Treaty or the Treaty on the Functioning of the European Union (TFEU). – In the summer of 2009, the EU decided…

High levels of public debt in the euro zone make governments hypersensitive to interest rate hikes by the central bank. This is because, as can be calculated from financial mathematics, even a small increase…

High public debt in the euro zone makes governments hypersensitive to interest rate hikes by the central bank. This is because, as can be calculated from financial mathematics, even a small increase in the…

A high level of public debt – diverts funds for servicing the debt (debt service) that are no longer available for productive spending – above all: Investments to adapt production to technical progress and…

A high level of public debt – diverts funds for servicing the debt (debt service) that are no longer available for productive spending – above all: Investments to adapt production to technical progress and…

Bonds and loans issued abroad and usually denominated in the currency of the creditor country. – See net creditor. Attention: The financial encyclopedia is protected by copyright and may only be used for private…

Bonds and loans issued abroad and usually denominated in the currency of the creditor country. – See net creditor. Attention: The financial encyclopedia is protected by copyright and may only be used for private…

Unless otherwise defined, the obligation imposed by the supervisory authorities on institutions to provide the public with certain information on specific circumstances, such as capital adequacy (an appropriate amount of own funds in order…

Cooperative associations founded in German-speaking countries in 1864 – the first was in Vienna in that year – with the main aim of helping public employees to obtain – low-interest loans, – honest insurance…

The government’s financial outlays for the purchase of services, such as wages for civil servants, physical goods, such as the construction of a school, and for transfer payments to private households and businesses (subsiedies;…

The government’s financial outlays for the purchase of services, such as wages for civil servants, material goods, such as the construction of a school, and for transfer payments to private households and businesses (subsiedies;…

The share of public consumption in the national product. – See expenditure ratio, Wagner’s law. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!…

The share of public consumption in the national product. – See expenditure ratio, Wagner’s law. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!…

The share of government expenditure in GDP, measured at current prices and calculated according to certain rules of national accounting. – The higher the expenditure ratio, the narrower the part of the economy governed…

A bond issued by the government as a whole – including, in some statistics, public-sector entities within the government as a whole. – In times of uncertainty on the financial market, government securities are…

A bond issued by the government as a whole – including, in some statistics, public-sector entities within the government as a whole. – In times of uncertainty on the financial market, government securities are…

According to the definition of the German Federal Financial Supervisory Authority (BaFin), a public offer (buying quotation) exists on the financial market if an unspecified group of persons is invited to submit a bid…

In general, a contract by which a private company takes over public-sector tasks for a longer period of time because the privately managed company can perform these tasks more cost-effectively. – In particular, the…

Individual legal entities under public law, i.e., entities of sovereign action or these in their entirety. – See territorial authorities, parafiscal authorities, state, agencies, public. Attention: The financial encyclopedia is protected by copyright and…

The shares of a company are acquired by the company itself, by an investor, or by a takeover candidate on the stock exchange from the shareholders – usually over a long period of time…

Pursuant to Section 37 of the German Securities Trading Act (WpHG), the German Federal Financial Supervisory Authority (BaFin) may order an institution to publish erroneous financial statements – together with the main parts of…

The provisions prescribed under financial market law and monitored by the supervisory authorities with regard to the disclosure of a company’s financial circumstances. – See BilanzSkandal, Corporate governance, Public disclosure, Transparency requirement. – Cf.…

In addition to compulsory and periodical reporting (publication of the annual financial statements including notes and management report), companies listed on the stock exchange in Germany are required to make ad hoc disclosures in…

In a first step, shares of mostly foreign companies are recommended, especially in – stock exchange letters as well as by telephone calls and e-mails. – Allegedly independent experts certify the paper an imminent…

Public offer by a bidder aimed at the acquisition of securities, but without the purpose of obtaining control. This is because the bidder either does not intend to achieve such control or already holds…

Date on which the sale of assets by the seller to the buyer becomes effective. – Purchase price. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes…

A market participant who – has bought a contract in futures trading or – now owns the corresponding good (financial product, commodity). – Holders of long positions have the expectation of an increase in…

In the financial market, the price at which assets are sold or are to be sold by the seller to a buyer when due. – See purchase date. Attention: The financial encyclopedia is protected…

When someone wants to purchase a commodity or financial product in the future, they buy a forward contract now to hedge against a possible price increase. The purchase price hedge can also be understood…

In old documents, the purchase price, especially in connection with the acquisition of real estate (estate property) said. – See shilling. Attention: The financial encyclopedia is protected by copyright and may only be used…

retail trade). – It has been shown that purchase vouchers hardly achieve their purpose. This is because the recipients will or must redeem the voucher because of the expiry time. However, given the unfavorable…

Unless otherwise defined, this refers to an earmarked loan for the purchase of durable consumer goods (such as kitchens, household appliances, consumer electronics, cars) granted by a bank to a private household. – See…

A continuous survey of chief purchasers, originally launched in the USA in 1982, with regard to various variables – such as order backlog, purchasing volumes, purchase prices, delivery times, inventories – which are combined…

The ability of a monetary unit to purchase a given quantity of goods and services on the market; also referred to as purchasing power in older publications. – Aggregate demand: The demand for goods…

The actual external value of a currency taking into account the different price levels in the respective country. – If a certain basket of goods now costs USD 100 in the USA, and the…

The opinion that an increase in wages and salaries by EUR 100 would increase domestic demand by the same amount, i.e. by EUR 100. – The fact is, however, that (mid-2010) less than EUR…

The purpose for which a customer intends to use the loan. This is a very important factor in the lending behavior of banks. For the central bank, too, knowledge of inflation forecasts is of…

In stock market parlance, the term for forcibly pushing up the price of a share by dishonest means such as spreading rumors or promising reports by cowardly journalists. – See ad hoc announcement, money…

Generally, a short position, an offer, a bid, a haggle, a seller. – See Call. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!…

A – contract under which someone – in exchange for a predetermined premium, also called put money, – acquires the right to demand the securities or other assets on the settlement date – at…

A – contract under which someone – in exchange for a predetermined premium, also called put money, – acquires the right to demand the securities or other assets on the settlement date – at…

Option contract which contains the right to sell – a good such as foreign exchange, a financial instrument or a commodity – at a certain price – within a specified period of time. –…

The obligation of a writer of an option to sell the underlying asset at the strike price until the expiration date, regardless of the current price of the underlying asset (an option contract that…

Option contract which contains the right to sell – a good such as foreign exchange, a financial instrument or a commodity – at a certain price – within a specified period of time. –…

The purchase or sale of a certain amount of securities with the contractually agreed right to demand additional securities or, in the case of a sale, to deliver additional securities to the buyer. –…

Ponzi scheme in which investors are promised extraordinarily high profits and are initially paid out. However, the payouts are not made from earnings generated on the market. Rather, they are paid from the contributions…