International Economic Terms

English-language economic definitions generated from approved international institutional sources.

  • backup system

    A backup system provides an alternative means of continuing operations when the normal arrangement is disrupted. It can be used to preserve business activities, services, or …

  • balance of payments (b.o.p.)

    Balance of payments statistics show how an economy interacts financially with non-residents during a given period, covering relevant international receipts, payments and other transactions. They support …

  • Balance of Payments and International Investment Position Manual (BPM6)

    BPM6 establishes internationally harmonized rules for measuring an economy’s external accounts. It covers cross-border flows, such as trade and financial transactions, as well as the foreign …

  • Bank Recovery and Resolution Directive (BRRD)

    The Bank Recovery and Resolution Directive (BRRD) is the EU rulebook for preparing banks and certain investment firms for financial distress and addressing failures when they …

  • batch (bulk payments)

    Batch processing refers to submitting multiple payment or securities-transfer instructions as one operational set, allowing the relevant system to manage them under a common processing arrangement …

  • bilateral exposure

    Bilateral exposure measures the potential financial loss arising from a specific counterparty relationship if that counterparty does not fulfill its contractual duties. It can apply to …

  • bilateral net settlement system

    A bilateral net settlement system determines what each participating institution owes or is owed by another institution after offsetting their transactions over a specified period. Only …

  • bilateral netting

    Bilateral netting is a contract-based process in which reciprocal payment duties between the same two participants are consolidated into a single balance. The participant with the …

  • bilateral procedure

    A bilateral procedure is a transaction format in which a central bank selects and engages specific eligible parties rather than inviting competing offers from the market …

  • bill of exchange

    A bill of exchange is a negotiable instrument that records an unconditional instruction to make a payment. It can require settlement at once or at a …