International Economic Terms

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

  • central bank money

    Central bank money is the payment instrument created by a monetary authority and accepted as final settlement within the financial system. It includes cash in circulation …

  • central counterparty (CCP)

    A central counterparty (CCP) is a clearing institution that becomes the common contractual partner for trades accepted into its system. It replaces direct exposure between the …

  • central counterparty (CCP) link

    A CCP link is a cooperative framework that enables two independent clearing houses to handle eligible transactions across their respective participant networks. It gives a participant …

  • central government

    In public-sector statistics, central government refers to institutions exercising authority for the country as a whole. This category generally covers national ministries, executive bodies, and comparable …

  • central parity

    In ERM II, central parity is the euro value jointly assigned to a participating country’s currency. It is used as the anchor for monitoring whether the …

  • central rate

    Within ERM II, the central rate is the agreed euro-denominated value assigned to a participating currency. It anchors the mechanism’s monitoring of that currency and is …

  • central securities depository (CSD)

    A central securities depository (CSD) operates the infrastructure used to register, safeguard, and transfer securities. It maintains authoritative records of investors' holdings and supports the completion …

  • chaining

    Chaining is a settlement arrangement in which the completion of one instruction helps make the assets or credit needed for another instruction available. By linking mutually …

  • cheque

    A cheque is a banking instrument that allows an account holder to request that funds be transferred from their account to an identified payee, or in …

  • chip card (smart card)

    A chip card, or smart card, is a payment credential with an integrated circuit that can securely retain data and perform certain operations during a transaction. …