International Economic Terms

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

  • face-to-face payment

    A face-to-face payment is made during an in-person encounter between the parties. Cash, a payment card or a mobile device may be used; the method of …

  • failed transaction (fail)

    A failed transaction is an unsettled trade after the date on which delivery and payment were due. The failure may reflect a temporary shortfall of securities, …

  • failing or likely to fail (FOLTF)

    A failing or likely-to-fail (FOLTF) determination is made when a bank is no longer, or is expected shortly to cease being, viable under its supervisory authorisation …

  • fair value accounting (FVA)

    Fair value accounting determines the balance-sheet carrying amount of a financial instrument by reference to its market-based worth. A quoted price may be used when reliable …

  • final settlement (final transfer)

    Settlement finality is the legal status reached when a payment or other transfer is unconditional, enforceable and no longer capable of reversal, including where insolvency proceedings …

  • financial account (in a b.o.p. context)

    In balance-of-payments statistics, the financial account records cross-border financial flows that change residents’ claims on, or obligations to, non-residents. The entries are classified as direct investment, …

  • financial accounts

    Financial accounts are the financial component of national accounting. They record, for each institutional sector, the value of financial claims and obligations at a specified date …

  • financial asset

    A financial asset is an economic resource consisting of money held, an ownership interest in another entity or enforceable rights arising from a contract. Such rights …

  • financial auxiliary

    Financial auxiliaries are companies or comparable entities that facilitate financial services without themselves carrying out the main intermediary function. They may arrange insurance, advise investors or …

  • financial corporations engaged in lending

    Financial corporations engaged in lending are non-bank financial intermediaries whose principal business is extending credit rather than taking deposits. They provide funding to households and non-financial …