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

frontloading
`frontloading` shall mean the physical delivery of euro banknotes and coins from NCBs to credit institutions or to their appointed agents, between 1 September 2001 and 31 December 2001, according to any statutory or contractual arrangements set forth, respectively, by NCBs or between NCBs and credit institutions ECB/2001/1...

frontloading
the distribution of euro banknotes and coins prior to 1 January 2002 to certain target groups...

frosting
Matt surface used for the high relief areas of many proof coins and medals, to give greater contrast with the polished surface of the field....

FSA
The Financial Services Authority. The agency appointed by the Government under the Financial Services and Markets Act to oversee the regulation of the investment industry....

FSAP
The IMF and the World Bank have intensified and enhanced their assessment of countries` financial systems through joint Financial Sector Assessment Programs (FSAPs), which serve to identify potential vulnerabilities in countries` financial systems....

FTSE-100
Index comprising 100 major UK shares listed on The International Stock Exchange in London. A future on the index is traded at London International Financial Futures Exchange, an option at London Traded Options Market....

full employment
A state of the economy in which all persons who want to work can find employment at prevailing rates of pay. Some unemployment, both voluntary and involuntary, is not incompatible with full employment, since allowances must be made for frictional and seasonal factors which are always present to some degree....

full employment
A term that is used in many senses. Historically, it was taken to be that level of employment at which no (or minimal) involuntary unemployment exists. Today, many economists believe that with little or no involuntary unemployment, inflation would soon rise sharply. Full employment in the sense of no involuntary unemployment is therefore probably u...

full professor
A full professor is a tenured, regular faculty member. Full professor rank represents the highest faculty rank....

full professor
a professor of the highest rank...

full-time employment
Normally considered employment between 35-40 hours in a week, but on no account less than 30....

full-time equivalent employment
Employment figures are expressed as full-time equivalent employment, a computed statistic representing the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees. This statistic is calculated by dividing the ``part-time hours paid`` by the stan...

full-time equivalent employment
full-time equivalent worker (FTE) The equivalent of a full-time worker. For example, two people who each work half time correspond to one FTE....

full-time equivalent employment
OeNB annual accounts: staff inclusive of employees on secondment or leave (including maternity and parental leave)....

fully justified
fully justified text means both the right and left edges are flush, or even...

functionary
One who is in office or in some public employment....

fund of funds
A mutual fund or hedge fund that invests in other funds....

fund style
Style refers both to the strategy the manager uses to identify the stocks he will put in his portfolio and the universe he picks from such as large-company stocks or Japanese stocks....

fundamental analysis
A method of appraising operating companies that uses data in external accounting reports to stockholders, such as those filed by U.S. companies with the U.S. Securities and Exchange Commission, rather than market-generated data....

fundamental analysis
Research and examination of a corporation`s financial statements and balance sheets to predict the future price movements of their securities. Among other indicators, fundamental analysts study past records of assets, earnings, sales, products, management and markets to predict future trends. By assessing a firm`s prospects, fundamentalists can eva...

funded pension scheme
Pre-funding. A pre-funded (or, more simply, funded) retirement system finances expected future benefits by selling stocks, bonds, and other financial assets that workers accumulate over a lifetime of work. It also is referred to as a savings- or investment-based system....

funding level
This is a comparison of a scheme`s assets and liabilities....

funding plan
This is a plan to make sure that money is available at the right time to pay out pension benefits. It usually involves setting the contributions at a certain level, such as the standard contribution rate....

funding ratio
This is the funding level, written as a percentage....

fund-of-funds
A mutual fund which invests in other mutual funds....

fund-of-funds
fund that invests in other funds. Fund-of-fund managers seek to reduce risk by investing in other funds thus avoiding the highs and lows of any single fund. These funds offer a single entry fee into the funds they are investing in which is usually far lower than the combined entry fees of each fund. Fund of funds usually offer great diversification...

funds flow statement
The Funds Flow Statement shows how the source of funds equals the use of funds during the period covered by the statement. It is also known as the Statement of Sources & Application for Funds. Funds are obtained from the sales of goods, properties, stock & borrowings etc. While uses of funds are the purchase of fixed assets, payment of debts, dist...

funds rate
The interest rate that banks charge one another for overnight loans and is set by the Federal Reserve....

fungibility
a concept that characterises the method of holding securities by a CSD or other financial intermediary in which each of a number of issues of physical or dematerialised securities are held in separate fungible pools. No owner has the right to any particular physical or dematerialised security in a particular pool, but has a right to such an amount ...

fungible
The term used to describe when one instrument is identical to, and therefore interchangeable with another. A fungible bond is a new issue which is attached to an existing issue in the sense that it has the same specifications, other than price. If a bond is fungible, it can be exchanged for an existing bond with the same characteristics....

future
A contract to buy a commodity or a security on a future date at a price that is fixed today. Unlike forward contracts futures are generally traded on organized exchanges and are marked to market daily. [WCSU] ,...

future
Obligation to buy or sell a standard amount of currency, commodity, financial instrument or service at a predetermined price and at a specified date....

futures contract
a standardised forward contract traded on an exchange....

futures contract
Agreement to buy or sell a set number of shares of a specific stock in a designated future month at a price agreed upon by the buyer and seller. The contracts themselves are often traded on the futures market. A futures contract differs from an option because an option is the right to buy or sell, whereas a futures contract is the promise to actual...

futures exchange
A central marketplace with established rules and regulations where buyers and sellers meet to trade futures and options on futures contracts....

GAB
General Arrangements to Borrow (GAB). The GAB enable the IMF to borrow specified amounts of currencies from 11 industrial countries or their central banks, under certain circumstances, at market-related rates of interest. The potential amount of credit available to the IMF under the GAB totals SDR 17 billion (about $23 billion), with an additional ...

GABE
Geldausgabeautomaten-Service Gesellschaft mbH...

game theory
Theory seeking to draw a parallel between the behavior of participants in a game of chance (such as poker) or strategy (such as chess) and behavior of firms or people in small groups, particular in oligopolies. Game theory has also been used to try to explain the behavior of individuals or firms acting under conditions of uncertainty (e.g., about t...

gamma
Gamma is a measure of the amount delta would be expected to change in response to a unit change in the price of the underlying instrument. Gamma thus provides a measure of the difficulty of maintaining a delta-neutral portfolio....

gamma
Rate of exchange of an option`s delta in relation to the change in price of the underlying security....

gamma
The gamma of an option indicates the relative change of the option`s delta in the event of a minor price fluctuation in the underlying asset. Mathematically, the gamma is the second partial derivative of the option price function with respect to the underlying asset. To calculate the gamma risk of an option, we have to compute the so-called gamma e...

Gantt chart
a chart used as a visual aid for loading (assigning jobs to work centers) and scheduling (establishing the timing of the use of equipment, facilities and human activities in an organization) purposes....

gap analysis
refers to a technique or process for quantifying exposure to adverse consequences from changes in interest rates. It isa comparison of the total quantity of a financial institution`s rate-sensitive assets (RSAs) and rate-sensitive liabilities (RSLs) for each of a number of different future time periods or buckets. Gap analysis is used to evaluate t...

gap analysis
Simple maturity/repricing schedules can be used to generate simple indicators of the interest rate risk sensitivity of both earnings and economic value to changing interest rates. When this approach is used to assess the interest rate risk of current earnings is typically referred to as gap analysis. Gap analysis was one of the first methods develo...

GARCH
An extension of the ARCH class of models that allows lagged conditional variances to enter the equation. GARCH models have both a longer memory and a more flexible lag structure than ARCH models. See Auto-Regressive Conditional Heteroskedasticity (ARCH) Model. See also Heteroskedastic, Mean Reversion....

Garman-Kohlhagen model
Adaptation of Black-Scholes options pricing model, used extensively in currency and stock options market....

gatekeeper
The primary care physician who must authorize all medical services....

gateway
A node on a network that serves as an entrance to another network. For example, when a user connects to the Internet, that person essentially connects to a server that issues the Web pages to the user. These two devices are host nodes, not gateways. In enterprises, the gateway is the computer that routes the traffic from a workstation to the outsid...

Gaussian distribution
The normal or Gaussian distribution is a continuous symmetric distribution that follows the familiar bell-shaped curve. The distribution is uniquely determined by its mean and variance. It has been noted empirically that many measurement variables have distributions that are at least approximately normal. Even when a distribution is nonnormal, the ...

GDDS
General Data Dissemination System http://www.imf.org/external/np/sta/dsbb/2000/index.htm#glossary`>http://www.imf.org/external/np/sta/dsbb/2000/index.htm#glossary`>http://www.imf.org/external/np/sta/dsbb/2000/index.htm#glossary...

GDDS
General Data Dissemination System...

GDDS
The GDDS is mainly designed for countries that do not have or seek access to international capital markets. The GDDS takes into account, across the broad range of countries, the diversity of their economies and the developmental requirements of many of their statistical systems....

GDP
GDP = consumer expenditures + investment + government purchases of goods and services + net exports, or, in a more compact notation, GDP = C + I + G + NX. Net exports is simply exports (X) minus imports (M) or NX = X - M. Net exports are also referred to as the trade balance. Consumption is expenditures on consumer goods by households. Investment i...

GDP deflator
measures the average level of prices of all goods and services included in GDP (broader index than CPI, PPI); GDP deflator = nominal GDP (= value of current period production at in current prices) divided by real GDP (= value of current period production at in base period prices) x 100 (...

GDP minus exports plus imports
U.S. domestic demand, defined as GDP minus exports plus imports, serves as a proxy for domestic demand shifts...

gender equality
Refers to status quo (composition of workforces, measures taken, data available, legislation implemented). Taken from Women in Macroeconomic Centers of Decision-Making in the European Union,...

gender mainstreaming
refers to processes (raising awareness, indicators, training, rules, guidelines, mechanisms, gender officers) Taken from Women in Macroeconomic Centers of Decision-Making in the European Union,...

gender segregation
Gender segregation refers to the tendency for men and women to be employed in different occupations, and measures the extent to which this occurs. This is a symmetrical measure, as distinct from concentration, which is a measure of the predominance of one sex in a particular occupation or group of occupations. The principal innovation of this proje...

General Accounting Office
The arm of Congress that investigates the performance of the federal government. GAO evaluates the use of public funds and the performance of federal programs, while also providing analytical, investigative and legal services in order to support to Congress in its policy formulation and decision making processes. Most GAO reports are initiated at t...

General Arrangements to Borrow
The General Arrangements to Borrow (GAB) of 1962, under which 10 member countries of the International Monetary Fund (together with Switzerland, not then an IMF member) agreed to make resources available to the IMF outside their quotas, led to the countries participating in the GAB being known as the Group of Ten....

general collateral
securities that satisfy the general requirements of a lender of cash to collateralise its cash lending. General collateral comprises securities which are not in particular demand in the market; categories of general collateral are usually defined by market convention....

general government
2.68. The sector general government (S.13) includes all institutional units which are other non-market producers (see paragraph 3.26.) whose output is intended for individual and collective consumption, and mainly financed by compulsory payments made by units belonging to other sectors, and/or all institutional units principally engaged in the redi...

general government
covers the standardised institutional sector used in the System of National Accounts (SNA). General Government includes: the public authority and its administration at all levels: central or federal, regional (state or provincial), local, and social security funds; public services provided by the government (at all levels) on a non-market basis (e....

general loan loss provision
GENERAL PROVISION is a provision made against a group of credit instruments outstanding. A general provision is established when there are concerns about the collectibility of amounts owing, but where there is also insufficient information to establish specific provisions against individual loans within that group. As soon as sufficient information...

General Packet Radio Service
neue Übertragungstechnik, die neue Internetdienste am Handy bis hin zur Übertragung von Spielen und Videos ermöglicht...

general partnership
In the commercial and legal parlance of most countries, a General partnership or simply a Partnership refers to an association of persons or an unincorporated company with the following major main features: Formed by two or more persons * The owners are all liable for legal actions and debts the company may face personally * Created by agreement, p...

Generalized Method of Moments
Generalized Method of Moments (GMM) has become one of the main statistical tools for the analysis of economic and financial data....

geometric mean
We say that z is the geometric mean of x and y if z is the square root of the product of x and y....

German reichsmark
The Reichsmark (Symbol: RM) was the currency in Germany from 1924 until June 20, 1948. It was replaced by the Deutsche Mark in West Germany and by the East German mark (`Mark der DDR` or `Ostmark`) in East Germany. It was introduced in 1924 as a replacement of the Papiermark. This was necessary due to the hyperinflation which had reached its peak ...

Gewährträgerhaftung
promises that the state will step in to pay any liability that a Landesbank is unable to meet...

Gewährträgerhaftung
The Gewährträgerhaftung means that the guarantors are liable to pay creditors should a bank`s assets prove insufficient....

GfK Austria
0,21129...

GfK Austria GmbH Market Research
0,21129...

Gini coefficient
... the Gini coefficient. It measures the concentration of wealth at different percentile levels, and does an overall computation. It is an index that goes from zero to one, one being the most unequal. Wealth inequality in the United States has a Gini coefficient of .82, which is pretty close to the maximum level of inequality you can have....

Gini coefficient
The Gini coefficient is a measure of inequality of a distribution of income. It is defined as a ratio with values between 0 and 1: the numerator is the area between the Lorenz curve of the distribution and the uniform (perfect) distribution line; the denominator is the area under the uniform distribution line. It was developed by the Italian statis...

giro account
GIRO (POSTAL GIRO) A method of payment used widely in other countries. A giro account is set up at a bank or post office, and funds are electronically transferred from one account to another....

GKO
Gosudarstvennye kratkosrochnye obyazatelsva FOT1/2000...

gliding band
Government changes rates at a pre-announced steady rate per day...

gliding schedule
means a type of flexible work schedule in which a full-time employee has a basic work requirement of 8 hours in each day and 40 hours in each week, may select a starting and stopping time each day, and may change starting and stopping times daily within the established flexible hours....

global custodian
a custodian that provides its customers with custody services in respect of securities traded and settled not only in the country in which the custodian is located but also in numerous other countries throughout the world....

global depository receipt
Receipt for shares in mainly emerging-market-based companies. GDRs are traded on numerous exchanges around the world, enabling investors access to emerging market companies without having to face custodian and other administrative delays that are often associated with the exchanges in emerging markets....

global governance
Thus, global governance may be defined as the complex of formal and informal institutions, mechanisms, relationships, and processes between and among states, markets, citizens and organizations, both inter- and non-governmental, through which collective interests on the global plane are articulated, rights and obligations are established, and diffe...

GMM
a parametric estimator (econometrics)...

going concern
The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets....

going concern principle
The organization is normally viewed as a going concern, that is, as continuing in operation for the foreseeable future. It is assumed that the organization has neither the intention nor the necessity of liquidation or of curtailing materially the scale of its operations...

gold exchange standard
A variant form of the gold standard under which a country pegged the value of its currency to the value of the currency of a `major` country, e.g. sterling or dollars, which was itself on a gold standard. The international monetary regime in force between 1958 and 1970 is frequently described as a `gold exchange standard` system because of the wide...

gold standard
A monetary system in which currencies are defined in terms of a given weight of gold....

golden rule
Such a rule states that, over the cycle, government borrowing should not exceed net government capital formation; hence, current expenditures should be financed by current receipts....

good for
Popular name for token coins and emergency money made of paper or card, from the inscription `Good for` or its equivalent in other languages (eg, French `Bon pour` or Dutch `Goed Door`) followed by a monetary value. They have been recorded from Europe, Africa and America during times of economic crises or shortage of more traditional coinage....

goodness of fit
Goodness-of-fit tests test the conformity of the observed data`s empirical distribution function with a posited theoretical distribution function. The chi-square goodness-of-fit test does this by comparing observed and expected frequency counts. The Kolmogorov-Smirnov test does this by calculating the maximum vertical distance between the empirical...

goodness of fit
The statistical resemblance of real data to a model, expressed as strength or degree of fit of the model....

goodwill
Intangible asset representing the difference between the purchase price of an asset and its fair market value....

Gouda
This Dutch cheese has a mild, nutty flavor. Varieties include smoked Gouda, the diminutive baby Gouda, and Goudas flavored with garlic and spices. Goudas are also classed by age. A young Gouda is mild, an aged Gouda = medium Gouda = mature Gouda is more assertive, and an old Gouda = very aged Gouda is downright pungent. Substitutes: Edam (similar, ...

Gouda cheese
Holland`s most famous exported cheese is Gouda, with its characteristic yellow interior dotted with a few tiny holes. It has a mild, nutlike flavor that is very similar to edam, but its texture is slightly creamier due to its higher milk fat content (about 48 percent compared to Edam`s 40 percent). Gouda can be made from whole or part-skim cow`s mi...

governance
For the purpose of the Commission`s White Paper on European Governance, `governance` will be taken to encompass rules, processes and behaviour that affect the way in which powers are exercised at European level, particularly as regards accountability, clarity, transparency, coherence, efficiency and effectiveness....

Governing Council
The Governing Council comprises all the members of the Executive Board and the governors of the NCBs of the Member States which have adopted the euro....

government commissioner
Government commissioner (Regierungskommissär): If there is a danger of a Pensionskasse not being able to perform its obligations, the FMA may appoint an expert adviser (government commissioner). The government commissioner has the same rights to obtain information as the FMA and has to follow the FMA`s instructions....

government paper
Any debt security, such as a Treasury Bill or a Ginnie Mae, either guaranteed by the issuer or backed by the U.S. government....

GPRS
General Packet Radio Service. A packet-linked technology developed primarily for upgraind data communications over GSM networks from 14.4 Kbps to 115 Kbps....

grade
Range/Grade - A two digit position code pointing to a salary range or grade on the Pay Scale Table which is applicable in this job classification....