Discount (disagio, discount)

Generally, a market value (of a coin, a security, in general: an asset) below the nominal value, usually expressed as a percentage. – The difference between the issue price and the ren par value or redemption price of a bond (issue discount); instead of discount, one sometimes finds the term Abgeld. – In Germany, it is not permissible to issue shares at a discount, but this is common practice for fixed-interest securities, especially in Islamic banking. – The commission rate that an acceptance point (retailer, service station, restaurant, airline, etc.) pays to the acquirer for credit card sales. – The difference between the nominal amount (repayment amount) and the disbursement amount of a loan, especially a mortgage loan; in the latter case, often also called a loss. – See surcharge, bank interest, cash payment clause, cash card, interchange fee, pagament. – Cf. Monthly Report of the Deutsche Bundesbank of December 2011, pp. 61 et seq. (German direct investment since 2004), Monthly Report of the ECB of February 2012, pp. 117 et seq. (cross-border capital flows in the euro area; detailed presentation; definitions; many overviews), Monthly Report of the Deutsche Bundesbank of March 2012, pp. 24 et seq. (problems in calculating income from cross-border direct investment).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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