Copy of `Oesterreichische Nationalbank - Dictionary`

The wordlist doesn't exist anymore, or, the website doesn't exist anymore. On this page you can find a copy of the original information. The information may have been taken offline because it is outdated.

Oesterreichische Nationalbank - Dictionary Category: Economy and Finance Date & country: 04/10/2008, AU Words: 3913

external balance
When the trade surplus (or deficit) of a country is equal to the value of investors` new long-term investments abroad (or foreigners` new long-term investments here). A lack of external balance means that something--usually the exchange rate, but also interest rates or the level of GDP--is about to change....

external balance sheet
The external balance sheet of a country is a summary of its financial relationship with the rest of the world. It is closely related to the balance of payments, and can be viewed as combining the stock of residents` financial investments in the rest of the world (assets) and the stock of financial investments into the country from the rest of the w...

external communications
Communications to external stakeholders to educate, increase awareness and generate acceptance regarding a product or program. Communications strategies may include media relations, special events, investor relations and community relations....

External Communications Committee
An ESCB committee...

external corporate finance
The main forms of external corporate finance are debt and equity. Debt consists of financial claims of external parties that have to be repaid by the company in specific amounts at an agreed interest rate. Equity constitutes a claim on the future profits of the firm to the providers of these funds (the shareholders). Unlike debt, equity does not ha...

external debt
The Guide defines gross external debt as follows: Gross external debt, at any given time, is the outstanding amount of those actual current, and not contingent, liabilities that require payment(s) of principal and/or interest by the debtor at some point(s) in the future and that are owed to nonresidents by residents of an economy....

External Developments
0,21129...

external finance
the difference between investments and cash generated from operations...

external financing requirements
The financial support in terms of lending, subsidies and grants from central government required by nationalised industries, trading funds and other public corporations and their borrowing from commercial sources. Includes movements in deposits and borrowing by way of finance leases....

external liabilities
External liabilities are deposits held by non-euro area residents with euro area MFIs, loans by non-euro area residents to euro area MFIs, and the counterpart of SDRs....

external rate of return
The external rate of return is the rate of return at which the present worth of a series of cashflows would be zero, where all cash flowing in during the project is re-invested at the auxiliary rate of return, that being the best rate available in practice....

external statistics
Statistics comprising the euro area b.o.p. (transactions), the euro area i.i.p. (outstanding positions) and the Eurosystem`s template on international reserves and foreign currency liquidity...

external working experience
ESZB-Programm zum Austausch zwischen den einzelnen NZBs innerhalb des ESZB...

extranet
The word extranet is obviously formed from the Latin prefix extra-, `outside`, plus `Net`, and this gives the clue to its sense. Whereas intranets are used internally to boost corporate efficiency, extranets are used externally to improve communication between the organisation, its suppliers and its customers without prejudicing its electronic secu...

extraordinary income
Income from events and transactions that are, as the name implies, extraordinary. A retailer might settle an expensive lawsuit, or sell a poorly performing mail-order operation. These items don`t happen every day or even every year, and so are separated from operating results....

extrinsic value of an option
That portion of an option`s premium that represents the amount in excess of the intrinsic value....

face recognition
Face recognition — which works by converting video images, photos or even police composites of faces into strings of numbers, then comparing them with other strings of numbers that stand for known faces — is very much in its infancy....

face value
The value of a bond (or other debt instrument) that appears on the front, or face, of the certificate. Although a bond`s price may change due to market conditions, the face value does not change. At maturity, the issuer redeems the bond at the face value amount. If the bonds are retired before maturity, the bondholder usually receives a slight prem...

face-to-face payment
payment carried out by the exchange of instruments between the payer and the payee in the same physical location....

factor cost
The cost of all the factors of production used to produce a good or service....

factor endowment
endowment - the amount of something that a person or country simply has, rather than their having somehow to acquire it. In the H-O Model of trade theory, endowments refer to primary factors of production, ignoring the fact that some of them -- especially capital and skill -- are deliberately accumulated....

factor endowment
The quantity of a primary factor present in a country. See endowment....

factor income
net factor income from abroad is the income residents receive from abroad for factor services (labor and capital) less similar payments made to nonresidents who contributed to the domestic economy. Data are in current U.S. dollars....

factor income approach
The factor income approach measures GDP by adding together money earned by factors of production in creating this year`s output. Three are three main categories of factor income: operating surplus; mixed income; compensation of employees....

factor income from abroad
Net factor income includes the `net labor income` and `net property and entrepreneurial income` components of the SNA. Labor income covers compensation of employees paid to non- resident workers. Property and entrepreneurial income covers investment income from the ownership of foreign financial claims (interest, dividends, rent, etc.) and nonfinan...

factor of production
Various resources, taken as a collective group, which contribute to the production of a product or service....

factor-price equalization theorem
Simply stated the theorem says that when the prices of the output goods are equalized between countries as they move to free trade, then the prices of the factors (capital and labor) will also be equalized between countries. This implies that free trade will equalize the wages of workers and the rents earned on capital throughout the world. The the...

fail
a failure to settle a securities transaction on the contractual settlement date, usually because of technical or temporary difficulties. Fail is usually distinguished from `default`. Also called `failed transaction`....

fair value accounting
A valuation principle that stipulates the use of either a market price, where it exists, or an estimation of a market price as the present value of expected cash flows to establish the balance sheet value of financial instruments....

fair value of an option
Fair Value of an Option - Price or premium at which both the buyer and the writer of the option should expect to break even, without commissions and other trading costs and after an adjustment for risk....

fair value of an option
The fair value of the option comprises its time value and its intrinsic value, if any....

fairway bond
Another name for Accrual Note (q.v.), Corridor Note (q.v.), or Range Note (q.v.). It accrues interest if and only if the index rate stays within a range (analogous to a golf ball staying on the fairway)....

Fed funds rate
The fed funds rate -- short for federal funds rate -- is the interest rate at which banks lend to each other overnight. As such, it is a market interest rate. But the Fed sets a target for the fed funds rate, and keeps the rate on target via open market operations. Unless otherwise specified, references to the fed funds rate are actually to the fed...

Fed funds rate
The interest rate that banks charge each other for the use of Fed funds. It changes daily and is a sensitive indicator of general interest rate trends. The Fed funds rate is one of the two interest rates set by the Fed, the other being the discount rate. While the Fed can`t directly affect this rate, it effectively controls it in the way it buys an...

federal career public servant
Term referring specifically to those career public servants (`Beamte`) whose public sector employment is the Federal Government; they are directly employed in the federal administration. Career public servants in the federally owned institutions, corporations and foundations under federal law also fall within this category: for example, those emplo...

federal funds rate
The federal funds rate is the rate charged by a depository institution on an overnight sale of federal funds to another depository institution. The rate may vary from day to day and from bank to bank....

federal medium-term note
Federal government paper issued in book-entry form and in denominations of at least DM 100 with a five-year maturity. Bundesobligationen carry a fixed rate of interest and are issued on a tap basis. Repayment in bullet form....

Federal Open Market Committee
A 12-member committee consisting of the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents. The president of the Federal Reserve Bank of New York is a permanent member while the other Federal Reserve presidents serve on a rotating basis. The Committee sets objectives for the growth of money and credit ...

Federal Press Service
Federal Press Service, section of the Federal Chancellery, in charge of all activities serving to inform the government and to inform the public of the work of the government....

Federal Public Procurement Office
The Federal Public Procurement Office (BVA) is a court for the purposes of Article 234 of the EC Treaty. It ensures that review procedures are available at least to any person having or having had an interest in obtaining a particular public contract and who has been or risks being harmed by an alleged infringement. The chairman of the BVA, the dep...

Federal Reserve Board
The 7-member Board of Governors that oversees Federal Reserve Banks, establishes monetary policy (interest rates, credit, etc.), and monitors the economic health of the country. Its members are appointed by the President subject to Senate confirmation, and serve 14-year terms. also called the Fed....

Federal Reserve System
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system; over the years, its role in banking and the economy has expanded. (...) The Federal Reserve System has a structure designed by Congress to give it a...

fee income margin
fee income/average assets...

feel of the paper
The banknote paper consists of pure cotton, which should feel crisp and firm (not limp or waxy). ECBthesaurus...

Feldstein-Horioka puzzle
According to Obstfeld and Rogoff (2000), the Feldstein-Horioka puzzle is one of the six major puzzles in international macroeconomics. Feldstein and Horioka (1980) found a high correlation between long term saving and investment of OECD countries and the coefficient of a regression of investment on saving is close to unity. This result is surprisin...

FIBV
Federation Internationale des Bourses de Valeurs. The organization of the world`s stock markets, headquartered in Paris. FIBV encourages cooperative policies designed to stimulate a free flow of capital across national boundaries....

FIBV
FIBV takes its name from the French abbreviation standing for International Federation of Stock Exchanges; it is the trade organisation for regulated securities and derivative markets, and related clearing houses world-wide....

fiduciary coin
that which represents a value that intrinsically it does not have, such as the copper one and the paper money....

fiduciary currency
Fiduciary currency: is from the Latin fidus (confidence), and the name of the concrete and tangible form of the currency: i.e. coins and notes. It only represents a small part of the money supply....

fiduciary money
money which owes its acceptability to public trust; the intrinsic value of such money, e.g.bank notes, is usually nil, or very much lower than the normal value [1]; coins or notes which are not worth much as a paper or metal, but are said by the government to have a value [2]...

fiduciary transfer
A fiduciary transfer is a transfer of title to a creditor over specified goods -- but only in trust, for purposes of securing a debt. Once the debt is paid, title reverts to the original owner. Even in the case of default, the creditor can not acquire title outright; he must sell the goods and satisfy his debt from the proceeds of sale. Prior to La...

field
A data element for which the identification, description and value representation has been pre-defined. Each element constitutes an indivisible unit. Where a field consists of more than one element, each forms a sub-field. Fields may be: fixed or variable length, mandatory or optional, restricted in the character set that may be used. A field can a...

filet mignon
Definition: [fih-LAY mihn-YON] This expensive, boneless cut of beef comes from the small end of the tenderloin. The filet mignon is usually 1 to 2 inches thick and 1 1/2 to 3 inches in diameter....

final
irrevocable and unconditional...

final salary
`Final Salary` means the annual rate of basic salary received in the last month before leaving Service, retirement or death; (EZB-Dienstbestimmungen)...

final sales to domestic purchasers
Final sales to domestic purchasers is gross domestic purchases minus change in business inventories....

final sales to domestic purchasers
Gross domestic product Less: Exports of goods and services Plus: Imports of goods and services Equals: Gross domestic purchases Less: Change in private inventories Equals: Final sales to domestic purchasers...

finalité politique
the ultimate political shape of the European Union...

finality
`finality` or `final` shall mean that the settlement of a payment order cannot be revoked, reversed or made void by the sending NCB/ECB, by the sending participant or by any third party, or even in the event of insolvency proceedings against a participant, except in cases of imperfections in the underlying transaction(s) or payment order(s) arising...

finality
settlement that cannot be reversed or withdrawn at a later time REP...

finalization of accounts
Finalization of Accounts: (Check & verify transactions, month end & year end accounting etc.)...

financial account
Balance of Payments definition: the financial account records transactions in external assets and liabilities of the UK. The financial account consists of direct investment, portfolio investment, other investment and reserve assets....

financial account
National Accounts definition: the financial account shows how net lending or borrowing are achieved by financial transactions....

financial account
The financial account records the net acquisition (purchases minus sales) of financial assets and the net incurrence (issues minus redemptions) of liabilities. As each non-financial transaction is mirrored by a financial transaction, the balancing item of the financial account conceptually equals the net lending/net borrowing calculated in the capi...

financial assets
any asset that is (i) cash; or (ii) a contractual right to receive cash or another financial instrument from another enterprise; (iii) a contractual right to exchange financial instruments with another enterprise under conditions that are potentially favorable; or (iv) an equity instrument of another enterprise....

financial assets
Claims on real assets....

financial assets
Financial assets are economic assets, comprising means of payment, financial claims and economic assets which are close to financial claims in nature. ESA95 5.03....

financial assets
Financial assets refers to those assets held by a government (e.g. securities and demand deposits) that are readily convertible into cash. Gross debt minus financial assets equals net debt....

financial attitude
Financial attitude refers to the general attitude toward financial management....

financial behavior
Financial behavior refers to the process people use in managing their financial resources to achieve financial success in the areas of retirement plans, employee benefits, credit and money management, and consumer rights....

financial capability
As financial products become more sophisticated, and the pace of economic, social and demographic change increases, it becomes more important for consumers to engage with financial services with skill and assurance. However, the Financial Services Authority (FSA) has identified low levels of financial capability across the UK, especially among youn...

financial capability
The FSA and its partners define financial capability to include both knowledge about financial topics (often referred to as financial literacy) and the ability to put that knowledge into practice....

financial conglomerate
defined as financial companies operating in different sectors of the financial industry...

financial corporations
Corporations who are primarily engaged in financial activities. Examples include banks, building societies, insurance corporations and pension funds....

financial derivatives
Financial derivatives are financial instruments that are linked to a specific financial instrument, indicator or commodity, and through which specific financial risks can be traded in financial markets in their own right. Transactions in financial derivatives are treated as separate transactions rather than as integral parts of the value of underly...

financial engineering
Financial Engineering is a masters degree program which combines financial theory, mathematics and computer technology. Financial Engineers apply advanced mathematical methods and computer technology to financial markets and financial management....

financial holding company
FHCs (which may include bank holding companies) are entities principally engaged in controlling financial corporations or groups of financial corporations but which do not themselves conduct the business of financial corporations. For the purpose of this definition, an FHC secures control over a corporation by owning more than half of the voting sh...

financial holding company
Financial holding company shall mean a financial institution the subsidiary undertakings of which are either exclusively or mainly investment firms or other financial institutions one at least of which is an investment firm....

financial institution
An institution that uses its funds chiefly to purchase financial assets (loans, securities) as opposed to tangible property. Financial institutions can be classified according to the nature of the principal claims they issue nondeposit intermediaries include, among others, life and property/casualty insurance companies and pension funds, whose clai...

financial instrument
Cash, evidence of an ownership interest in an equity, or a contract that is both: - a (recognized or unrecognized) contractual right of one entity to (1) receive cash or another financial instrument from another entity or (2) exchange other financial instruments on potentially favorable terms with another entity. * - a (recognized or unrecognized)...

financial instrument
IAS 32.11: A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity....

financial investment
trading one asset for another (e.g. money for shares of stock) // opp. real investment = buying physical capital...

financial knowledge
Financial knowledge includes knowledge about general personal finances, retirement plans, employee benefits, credit and money management, and consumer rights....

financial literacy
Categories of Financial Literacy • MATHEMATICAL AND STANDARD LITERACY - Reading and comprehension skills • FINANCIAL UNDERSTANDING - What is money? - How is it exchanged? - Where does it come from and go? • FINANCIAL COMPETENCE - Understanding the main features of financial services and risk return trade-offs. - Attitudes to money, saving and inves...

financial literacy
Financial literacy is the ability to make informed judgements and to take effective decisions regarding the use and management of money • It covers budgeting, spending and saving and people`s use of financial products and services from everyday banking through to borrowing, investing and planning for the future • Financial literacy has become an i...

financial literacy
Financial literacy refers to knowing the facts and vocabulary necessary to manage one`s personal finances successfully (Garman & Forgue, 2000)....

financial policy
Financial policies refers to policies related to the regulation, supervision, and oversight of the financial and payment systems, including markets and institutions, with the view to promoting financial stability, market efficiency, and client-asset and consumer protection....

financial ratio
Financial ratio analysis is the calculation and comparison of ratios which are derived from the information in a company`s financial statements. The level and historical trends of these ratios can be used to make inferences about a company`s financial condition, its operations and attractiveness as an investment....

financial ratio analysis
Financial Ratio Analysis. The Balance Sheet and the Statement of Income are essential, but they are only the starting point for successful financial management. Apply Ratio Analysis to Financial Statements to analyze the success, failure, and progress of your business. (...) Important Balance Sheet Ratios measure liquidity and solvency (a business`...

financial regulation
Government laws and rules that govern financial institutions. While credit-only institutions lend out capital belonging to other institutions (second-tier lenders), financial intermediaries, by definition, put the savings of individuals and institutions at risk, since they use them to finance their loan portfolios. For this reason, governments tend...

Financial Services Action Plan
seeks to bridge the gap between the rapid development of the single market in the EU and the often lagging national regulations in the financial sector....

Financial Services Action Plan
The European Commission`s Financial Services Action Plan (FSAP) sets out a step-by-step approach to create a pan-European market. Most importantly the heads of state and government pledged at the Lisbon European Council to implement it fully by 2005....

financial stability
A distinction is commonly made nowadays between monetary stability and financial stability. (Interestingly, this distinction would not have been so easily recognized a generation ago, either by economists or public officials.) Monetary stability refers to the stability of the general price level; financial stability, to the stability of the key ins...

Financial Stability Forum
Mr Tietmeyer presented his report on International Co-operation and Co-ordination in the Area of Financial Market Supervision and Surveillance at the meeting of the G7 Ministers and Governors in Bonn on 20 February 1999. The meeting endorsed the recommendation by The Tietmeyer Report to set up a Financial Stability Forum (FSF) comprising: national...

Financial Stability Report
The Financial Stability Report, issued both in German and English, contains two parts: the first part reports on international developments relating to financial stability and on the financial market in Austria (e.g. credit institutions, stock market, bond market). The second part deals with special financial stability issues. OeNB...

financial statements
A written report which quantitatively describes the financial health of a company. Includes an income statement and a balance sheet....

financial statements
Reports such as the balance sheet, income statement, and statement of cash flows, which summarize the financial status and results of operations of a business entity....

financial structure
The financial structure can be defined as the whole setting of financial markets, financial instruments and financial institutions at a given point in time. Financial structures differ from country to country and also change over time in relation to the stages of economic development. In general, they are classified in terms of the significance of ...

financial vehicle corporation
created to be holders of securitized assets...

financial vehicle corporation
Financial vehicle corporations created to hold securitised assets (FVC): FVCs (sometimes called special purpose vehicles (SPVs) or entities (SPEs)) are undertakings set up to carry out securitisations organised in such a way that credit risk is transferred from the original holder of the securities to the vehicle. FVCs may finance the acquisition o...