Copy of `Oesterreichische Nationalbank - Dictionary`

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

NIMBY
not in my backyard: indicates unwillingness to be involved (in something unpleasant)....

NIS
Newly Independent States...

no compulsion, no prohibition
The principle defined by the reference scenario of the European Council of Madrid to regulate relations between economic agents during the transition period, which states that those economic agents who wish to transact in euros may do so if the other party agrees, but that no agent will be legally compelled to do so before the end of the transition...

no prohibition, no compulsion
The `no prohibition` principle requires that there should be no legal interdiction to the use of the euro unit when all the parties to an agreement so decide. At the same time, the `no compulsion` principle implies that one party to an agreement cannot unilaterally insist on the use of the euro unit. In practice, this means that there is a distinct...

no-asset case
Asset: Property or possessions owned by the debtor. An `asset case` is one in which the debtor has assets in excess of the amount of liens and the amount claimed exempt. A `no asset case` is one in which there is not enough money or equity to make distribution to creditors....

nominal
A measure based on current dollar value. For income or spending, the nominal level is measured in current dollars. For an interest rate, the nominal rate on debt selling at par is the current-dollar interest paid in any year as a ratio of the current-dollar value of the debt when it was issued. For debt initially issued or now selling at a discount...

nominal effective exchange rate
The ECB`s nominal EER is defined as a geometric weighted average of bilateral euro market exchange rates against the currencies of 13 partner countries....

nominal money gap
The nominal money gap is constructed as the deviation of the actual stock of M3 adjusted for holdings of money market fund shares/units by non-euro area residents from the level consistent with monetary growth at the reference value of 41/2%....

nominal money gap
The simplest measure of excess liquidity is the nominal money gap. This refers to the excess liquidity (or, in the event of a negative gap, to the liquidity shortage) which results from the deviation of the observed nominal money stock from an equilibrium nominal money stock....

nominee
a person or entity named by another to act on his behalf. A nominee is commonly used in a securities transaction to obtain registration and legal ownership of a security....

non par value share
Non Par Value Shares: shares which represent a fraction of the issued capital and do not have a nominal value. NPV shares are allowed by the second EC Company Law Directive and are widely used in Belgium and Luxembourg and in the US....

nonaccrual asset
An asset, typically a loan that is not earning the contractual rate of interest due to credit problems with the borrower. Such loans are placed on nonaccrual status (cash basis loan) and income reported as the cash is received by the lending institution....

nonaccrual loan
Under the proposed regulation, a loan shall be considered nonaccrual if it meets any of the following conditions: (1) Payment of any amount of outstanding principal and interest accruals, considered over the full term of the asset, is not expected; (2) any portion of the loan has been charged off as a result of periodic credit evaluations; or (3) t...

nonaccruing loan
assets, including repossessed real estate and nonaccruing loans, on which no interest is earned...

nonbank bank
A bank that either accepts business and consumer deposits or makes loans, but does not do both activities at the same time. By restricting operations exclusively to either of these activities, a nonbank bank circumvents the legal definition of a bank as defined in the 1956 Bank Holding Company Act and is therefore not subject to federal laws regula...

nonbank bank
Non-bank banks (intermediaries that operate as banks, but do not call themselves banks) and similar evasions of the spirit of the membership requirements must be guarded against....

nonbank financial corporations
The nonbank financial corporations sector comprises insurance corporations and pension funds, other nonbank financial intermediaries (e.g. security dealers, investment corporations), and financial auxiliaries (e.g. security brokers, loan brokers, insurance brokers). The nonbank financial corporations sector falls under the �other sectors� categ...

nonbank financial institution
a financial institution that does not come under the definition of a `bank` (e.g. a financial institution other than a credit institution in Europe or a depository institution in the United States)....

noncontributory pension plan
A pension plan that is fully paid for by the employer, requiring no employee contributions....

noncooperative game
In game theory, a non-cooperative game is a one in which players can cooperate, but any cooperation must be self-enforcing. A game in which players can enforce contracts through third parties is a cooperative game....

nondurable goods
Items that generally last for only a short time (three years or less). Food, beverages, apparel and gasoline are common examples. Because of their nature, nondurable goods are generally purchased when needed....

nonearning asset
assets, including repossessed real estate and nonaccruing loans, on which no interest is earned...

nonecore banking business
Noncore banking business` means all activities permissible for commercial banks, industrial banks, or trust companies, except core banking business, and except those activities prohibited by law or determined by the commissioner by regulation or order not to be noncore banking business....

nonequity assets
IIP;...

nonequity liabilities
gross liabilities excluding equity components...

nonequity liabilities
IIP;...

nonfinancial corporations
Corporations and quasi-corporations not engaged in financial intermediation but principally in the production of market goods and non-financial services....

nonfinancial nonproduced assets
Non-financial non-produced assets consist of land and other tangible non-produced assets that may be used in the production of goods and services, and intangible non-produced assets....

non-MU currencies
Currencies other than EMU currencies (other EMU currencies, USD, JPY, CHF, remaining)....

nonoperating income
`Income/expenses not associated with operations` For example, non-operating income could be earned as interest on a short-term investment of surplus cash. Since investing money in short term investments might not be the core business of the company, this income would be non-operating income that must be recorded nonetheless. One of the typical exp...

nonparticipants
Non-participants are those working age people not included in the labour force....

nonrepudiability
the ability to prevent denial or repudiation by the sender or receiver of a payment message....

non-repudiation
A procedure by which the receiver of a message cannot deny having received that message, nor the sender of having sent it....

nonresidential buildings
Buildings other than dwellings, including fixtures, facilities and equipment that are integral parts of the structures and costs of site clearance and preparation. Historic monuments identified primarily as nonresidential buildings are also included. Examples include warehouse and industrial buildings, commercial buildings, buildings for public ent...

nonresidential buildings
commercial, industrial and institutional buildings...

nonresidential construction
Nonresidential buildings (commercial, industrial, institutional) and engineering construction....

nonrevolving debt
includes closed-end loans for cars, school and mobile homes...

nonsignificant
(statistics) attributable to chance onlinedictionary.datasegment.com/word/Nonsignificant/ (23.10.2002)...

nonsignificant
Having, producing, or being a value obtained from a statistical test that lies within the limits for being of random occurrence....

nontariff barrier
Non-tariff barriers are government measures or policies other than tariffs which restrict or distort international trade. Examples include import quotas, discriminatory government procurement practices, and discriminatory product standards....

no-par share
No-par shares are issued for any amount that the board assigns to such shares, arbitrarily or otherwise. Consideration received for shares in excess of the par value is capital surplus. With respect to no-par shares, the directors may arbitrarily assign a designated portion of the consideration for such shares to capital surplus, that is, surplus t...

no-par stock
Stock that does not have a par value printed on the face of the stock certificate....

normal curve
Gaussian curve n : a symmetrical curve representing the normal distribution [syn: normal curve, bell-shaped curve, Gaussian curve , Gaussian shape]...

normal distribution
A probability distribution forming a symmetrical bell-shaped curve....

normal distribution
Normal distributions are symmetric with scores more concentrated in the middle than in the tails. They are defined by two parameters: the mean (m) and the standard deviation (s). Many kinds of behavioral data are approximated well by the normal distribution. Many statistical tests assume a normal distribution. Most of these tests work well even if ...

nostro account
a bank`s account held by another bank http://www.gzs.de/de/info/lexikon-n.html`>http://www.gzs.de/de/info/lexikon-n.html`>http://www.gzs.de/de/info/lexikon-n.html A...

nostro account
An ISO term. A record kept by an account owner bank of an account serviced on its behalf by an account servicing bank. Also known as the `Due from account`. Accounts which contain: all current accounts with correspondent banks and (inter)national clearing institutions to effect payments. all margin accounts relating to exchange traded options and...

notional amount
The notional amount for a future, option, or other derivative instrument that is settled with physical delivery is the quantity of the underlier to which the contract applies. A futures contract on 1000 bushels of corn has a notional amount of 1000 bushels. Cash settled derivative instruments make payments according to contractually specified formu...

novation
A novation is an agreement among the two contracting parties and a third party whereby all parties agree that this third party shall perform the duties of one of the original parties to the contract. For example, if a patient agrees that a new doctor may assume the duties of a prior doctor under an original contract, and the new doctor accepts the ...

novation
satisfaction and discharge of existing contractual obligations by means of their replacement by new obligations (whose effect, for example, is to replace gross with net payment obligations). The parties to the new obligations may be the same as to the existing obligations or, in the context of some clearing house arrangements, there may additionall...

novation
The legal process of replacing the original counterparties and becoming the single counterparty for all participants is generally called novation....

novation netting
Novation netting contemplates that for each value date and for each currency, the parties agree that all existing contracts will be canceled (discharged and extinguished) and simultaneously replaced by a new contract that aggregates and nets all of the payment obligations of the original contracts. Novation netting occurs immediately when a nettabl...

NRI
In thinking about the natural rate of interest, economists generally focus on real interest rates. They believe that movements in those rates, more so than in nominal rates, influence businesses` decisions about investment spending and consumers` decisions about purchases of durable goods, like refrigerators and cars, and new housing, and, therefor...

nuisance parameter
Any parameter whose whole true value is unknown but which must be excised from the problem in order for an inference on the parameter of interest to be made. For example, in an experiment with imprecisely known background, that latter is a nuisance parameter....

null hypothesis
The null hypothesis is an hypothesis about a population parameter. The purpose of hypothesis testing is to test the viability of the null hypothesis in the light of experimental data. Depending on the data, the null hypothesis either will or will not be rejected as a viable possibility. Consider a researcher interested in whether the time to respon...

nursing home
Skilled Nursing Facilities may be independent or part of a senior`s community. A Nursing Home is a facility with 24-hour medical care available, in addition to custodial care. State regulations define services that can only be performed in a Skilled Nursing Facility, i.e. turning a patient in bed, who cannot turn themselves...

obverse
Obverse refers to the front, or face side of a coin....

obverse
The `heads` side of a coin or medal, generally bearing the effigy of the head of state or an allegorical figure (eg, Liberty of Argentina and USA; Helvetia or William Tell of Switzerland and La Semeuse of France)....

obviate the need for
To anticipate; to prevent by interception; to remove from the way or path; to make unnecessary; as, to obviate the necessity of going....

occupation
The name or title of a job that identifies a person`s principle business or work activity. Occupations are classified in two major schemes: a) Standard Occupational Classification (SOC), a standard classification used in social and economic statistical reporting programs, such as the Census or U.S. Bureau of Labor Statistics (BLS) programs. There a...

occupational pension scheme
A pension scheme generated by a company or organisation for the benefit of its employees. In `contributory` schemes both the employer and employee contribute to a fund which grows free of tax during the savings period. In `non-contributory` schemes, only the employer contributes....

ocular econometrics
The methods used range from ocular econometrics (eyeballing the figures) to panel estimation, using the country-year specific measures of our efficiency index. http://www.bu.edu/econ/ied/neudc/papers/ Schiantarelli-final.doc 04.11.03...

odd pricing
Definition: A form of psychological pricing that suggests buyers are more sensitive to certain ending digits. Examples: Odd pricing refers to a price ending in 1,3,5,7,9 just under a round number (e.g., $0.79, $2.97, $34.95). Even pricing refers to a price ending in a whole number or in tenths (e.g., $0.50, $6.10, $55.00)....

OeKB
Oesterreichische Kontrollbank...

OEM component
OEM generally means `original equipment manufacturer.` Sometimes it is referred to as `open-ended market` and used interchangeably with `bulk-pack,` `white box,` `brown box,` and `gray market.` Almost all PC component and software vendors make two versions of the same product based on a difference in the distribution channels. One is the retail box...

OFC
offshore financial center.The third Working Group, on Offshore Financial Centers, is identifying a set of standards to address problems raised by OFCs....

off balance sheet transaction
financial transactions that are not reflected on the balance sheet of the financial institution conducting them. An example would be the purchase or sale of financial assets in futures markets....

off-budget
spending or revenue excluded from the budget totals by law....

offer price
The price a seller is willing to accept for the security. Sometimes referred to as the offer price. Sometimes called `The Ask`. What price the seller is `asking`....

offline authentication
Offline authentication: verification of the authorisation to execute a transaction (e. g. electronic cash offline) is carried out not by directly accessing a remote file (online authentication) but at the point of sale by checking the authorisation (to conduct the transaction) previously stored in the microprocessor itself, e. g. by having used a P...

offshoring
Note that `outsourcing,” `offshore outsourcing,” and `offshoring” are used interchangeably in public discourse despite important technical differences. To be consistent, `outsourcing,” in corporate context, represents an organizational practice that involves the transfer of an organizational function to a third party. When this third party ...

OFX
OFX - Open Financial Exchange. Consortium led by Microsoft, Intuit Inc. and the Checkfree Corporation. Covers the exchange of financial data and instructions between financial institutions and their customers....

OFZ
Obligatsii federalnogo zaima...

ogival arch
In Gothic architecture, ogives are the intersecting transverse ribs of arches that establish the surface of a Gothic vault. An ogive or ogival arch is a pointed, `Gothic` arch, drawn with compasses as outlined above, or with arcs of an ellipse as described. A very narrow, steeply pointed ogive arch is sometimes called a `lancet arch.`. Villard de H...

OHR
Office of the High Representative...

Okun`s law
Okun`s law is the observed relation between GDP growth and the change in the unemployment rate. We use Okun`s law to close the macroeconomic model composed of the Phillips curve (relating unemployment and inflation) and the aggregate demand (relates gdp growth with inflation)....

old-age dependency ratio
The ratio of the number of elderly persons of an age when they are generally economically inactive (aged 65 and over or aged 60 and over depending on the context) to the number of persons of working age (from 15 to 64 or from 20 to 59 depending on the context)....

OLI paradigm
The OLI Paradigm (`Eclectic Theory of FDI`) [John Dunning, professor emeritus at the University of Reading (UK) and Rutgers University (US)] represents a mix of three different FDI theories = O + L + I, each with a different focus or question: O = Ownership Advantages (Firm Specific Advantages) address the WHY question [why go abroad?] which sugg...

OLS estimate
OLS stands for Ordinary Least Squares, the standard linear regression procedure. One estimates a parameter from data and applying the linear model y = Xb + e where y is the dependent variable or vector, X is a matrix of independent variables, b is a vector of parameters to be estimated, and e is a vector of errors with mean zero that make the equat...

OMFI
OMFIs (Monetary Financial Institutions other than central banks) comprise resident credit institutions, as defined in Community law, and other resident financial institutions, the business of which is to receive deposits and/or close substitutes for deposits from entities other than MFIs, and, for their own account (at least in economic terms), to ...

omibus account
An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined in this type of account, allowing for easier management by the futures merchant. This protects the identities of the individual account holders, because the futures merchant transacts for them....

omitted variable
variable not controlled in the statistical that causes the outcome and the assignment variable; the assignment variable; the source of selection effects...

Omron effect
One of the security features (a feature to prevent the banknote from being successfully photocopied) is present on these banknotes and, therefore, they cannot be successfully photocopied....

Omron effect
The problem involves a security feature developed in Japan, known as the Omron effect, that was not properly incorporated in the bills. The feature is designed to prevent the reproduction of banknotes using color copiers. FAZ engl. edition of July 12, 2000...

on contract
`Er wurde als wissenschaftlicher Mitarbeiter auf der Basis eines Werkvertrages beschäftigt (d.h. nicht auf Zeit sondern bis zum Abschluß eines vereinbarten Projektes). ` **This expression is very common in North America. It is a way of living for many in information technology. Scientists very often work in this way. The whole sentence would read, ...

OOP
out-of-pocket payment WHO glossary...

open economy
An economy which is largely free of trade restrictions....

open house
An occasion when a school or institution is open for visiting and observation by the public. (American Heritage Dictionary)...

open interest
The number of futures or options contracts outstanding between members of an exchange, as measured at the end of each day....

open interest
Total number of contracts that remain open at a given moment. It applies to contracts that have not been exercised, closed out or allowed to expire....

open market operation
An operation executed on the initiative of the central bank in the financial markets involving one of the following transactions: 1) buying or selling assets outright (spot or forward); 2) buying or selling assets under a repurchase agreement; 3) lending or borrowing against underlying assets as collateral; 4) the issuance of central bank debt cert...

open market operation
The sale or purchase of mostly government securities, in a market open to private investors, by a central bank. Sales in the open market are an integral part of monetary policy, allowing the central bank to manage the volume of money and credit in the economy. For instance, if the money supply rises due to an unanticipated in-flow of foreign curren...

open network
telecommunications network to which access is not restricted....

open network environment
An application environment based on open Internet standards....

open transaction
a transaction in progress. NOTE-A transaction is a paired message that consists of a request and its reply...

open transaction
transactions with no fixed maturity date, with the possibility of terminating the transaction or refixing its terms or substituting collateral daily....

open-end credit
A line of credit that may be used repeatedly up to a certain limit, also called a charge account or revolving credit....

operating expenses
Many people say, `If I have to pay it, then it`s an operating expense.` That is not always true. To be considered a real estate operating expense, an item must be necessary to maintain a piece of a property and to insure its ability to continue to produce income. Loan payments, depreciation and capital expenditures are not considered operating expe...

operating income
A measure of a company`s earning power from ongoing operations, equal to earnings before deduction of interest payments and income taxes. also called operating profit or EBIT (earnings before interest and taxes)....

operating income
Calculated as Net Sales minus Operating Expenses including the cost of products sold; selling, general and administrative expenses; research and development expenses; and any other nonrecurring items....