Univ.-Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.English-language economic definitions generated from approved international institutional sources.
A central bank is the official monetary authority for a country or group of countries. It typically sets key interest rates, manages the currency and money supply, and may act to preserve financial stability. Its powers, objectives, and area of operation are determined by the laws governing the jurisdiction it serves.
A BIC is an alphanumeric identifier assigned to a bank or other financial institution for use in payment and messaging activities. SWIFT administers the BIC registration system. Each identifier has an eight-character core, while three additional characters may be appended to identify a particular branch or organisational unit. The core identifies the institution, its country,… read more »