International Economic Terms
English-language economic definitions generated from approved international institutional sources.
- forward transactions in securities
A securities forward is a privately negotiated agreement to exchange a debt instrument, commonly a bond or note, on a later settlement date at a price …
- four-party card scheme
Under a four-party card model, responsibility is divided between the institution that issues the card or payment account and the institution that equips merchants to accept …
- free-of-payment (FOP) delivery
Free-of-payment (FOP) settlement occurs when securities are delivered without a cash movement being tied to that delivery. The securities transaction and any related payment are handled …
- funds transfer system (FTS)
A funds transfer system (FTS) is the institutional framework through which participants discharge monetary obligations to one another. Its rules govern the exchange and processing of …
- fungibility
Fungibility in securities means that units of the same class are treated as equivalent, so one may be delivered or transferred in place of another without …