Copy of `Oesterreichische Nationalbank - Dictionary`

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

payload
This is the malicious activity that the virus performs. Not all viruses have payloads, but there are some that perform destructive actions....

payment
the payer`s transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a financial institution or at a central bank....

payment appropriation
The EC Budget distinguishes between appropriations for commitments and appropriations for payments. Commitment appropriations are the total cost of legal obligations which can be entered into during the current financial year for activities which will lead to payments in the current and future financial years. Payment appropriations are the amount ...

payment by results
Payment system under which pay is not directly related to the amount of time actually worked, as in the case of time-based pay , but is determined by the employee`s measurable performance, particularly the quantity and quality of work performed. The main problem lies in calculating the amount fairly. The commonest forms of payment by results (PBR) ...

payment card
A plastic card, either charge card, credit card or debit card used by the owner to purchase goods or services or to obtain cash....

payment netting
Netting of cash flows or obligations is a means of reducing credit exposure to counterparties: Payment netting reduces settlement risk: If counterparties are to exchange multiple cash flows during a given day, they can agree to net those cash flows to one payment per currency. Not only does such payment netting reduce settlement risk, it also stre...

payment netting
Payment netting is defined as the arrangement between two counterparties to net all payments in a single currency owed between them on a given value date. For each value date and for each traded currency, the parties will aggregate and net all payments owed between them to arrive at a single currency obligation for each currency payable between the...

payment netting
settling payments due on the same date and in the same currency on a net basis....

payment netting
When partially offsetting swap payments are due on the same date, the party owing the most will send a difference check....

payment order
`payment order` shall mean an instruction by a participant in accordance with the applicable RTGS rules to place at the disposal of a receiving participant, including an NCB or the ECB, an amount of money by means of a book entry on an RTGS account...

payment order
an order or message requesting the transfer of funds (in the form of a monetary claim on a party) to the order of the payee. The order may relate either to a credit transfer or to a debit transfer....

payment order
Payment order means an unconditional instruction, in any form, by a sender to a receiving bank to place at the disposal of a beneficiary a fixed or determinable amount of money if (i) the receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender, and (ii) the instruction does not provide that pay...

payment service provider
Ein Payment Service Provider (PSP) bietet seinen Kunden die technische Infrastruktur an, um zum Beispiel Kreditkarten oder EC-Karten entgegenzunehmen. Hierbei kann es sich um Hardware-Terminals (wie in einem Kaufhaus) oder auch um virtuelle Software-Terminals (wie in einem Online-Shop, einem Call-Center, oder einem ERP-System) handeln....

Payment Settlement Message Request
The sender of this message is requesting the receiver to process a payment. This message requires a positive or negative response from the receiver....

payment system
a mechanism for the transfer of monetary value and related information;...

payment system
a payment system consists of a set of instruments, banking procedures and, typically, interbank funds transfer systems that ensure the circulation of money....

payment system
What is a payments system anyway? - The fundamental `plumbing` of the financial world. It is the way that banks move money for lending, borrowing or other banking business....

payment versus payment
a mechanism in a foreign exchange settlement system which ensures that a final transfer of one currency occurs if and only if a final transfer of the other currency or currencies takes place....

payments for current transactions
as opposed to transactions of a capital nature...

payments for current transactions
Payments for current transactions means payments which are not for the purpose of transferring capital and includes, without limitation, (1) all payments due in connection with foreign trade, other current business, including services, and normal short-term banking and credit facilities; (2) payments due as interest on loans and as net income from ...

payoff profile
The slope of a line graphed according to the value of an underlying Asset on the x-axis and the value of a position taken to Hedge against Risk exposure On the y-axis. Also used with changes in value....

payout
The value of an option at expiration. Also called Payoff....

payroll
A record of wages or salaries paid or payable. The actual wages and salaries paid during a given period....

payroll accounting
Payroll Accounting consists of: 1) calculating the earnings of employees and the related withholding for taxes and other deductions, 2) recording the results of payroll activities, and 3) preparing required tax returns. The definition includes the task of reporting the results of payroll activities to the federal, state and local tax agencies....

payroll employment
Payroll Employment is a measure of the number of people being paid as employees by non-farm business establishments and units of government. Changes in Payroll Employment are widely followed as an indicator of economic activity....

payroll employment
Payroll Employment is available nationally for more than five hundred industries for total nonagricultural wage and salary employment as well as for groups of employees designated as production workers, constructions workers, or non-supervisory workers depending upon the industry. The Payroll Employment survey also provides national and industry in...

payroll tax
A tax based on wages, tips, and salaries paid. Part of the tax is deducted from the employee`s pay, and the rest is paid by the employer. Federal, state, and local governments collect payroll taxes for expenses such as social security, Medicare, unemployment compensation, worker`s compensation insurance, and local transit....

PDF
A function or graph representing the probability distribution of a continuous random variable. The density at a point refers to the probability that the variable will have a value in a narrow range about that point. Probability mass function refers to the probability distribution for a discrete random variable....

penny stock
A stock that typically sells for less than $1 a share, although it may rise to as much as $10/share as a result of heavy promotion. All are traded OTC, many of them in the local markets of Denver, Canadian Venture Exchange, or Salt Lake City. Penny stocks are highly speculative - high risk investments. Many brokerages don`t cover them simply becaus...

pension benefit
Payment made to a pension fund member (or dependants) after retirement....

pension fund
`pension fund` means the fund maintained to provide benefits under or related to a pension plan....

pension fund
A fund managed by an independent trustee into which a company makes periodic payments in behalf of its employees for the purpose of paying retirement benefits....

pension schemes earnings cap
Earnings Cap - an upper limit to the amount of salary which can be used to calculate pension....

pensionable earnings
Pensionable earnings is the part of your salary on which you made contributions to the plan....

pensionable earnings
These are the earnings used to work out benefits and contributions that depend on a member`s earnings.- They might not include overtime.- The amount may be affected by state pension offset....

pensionable employment
This is the period of employment which is taken into account when working out pension benefits....

pensionable service
Pensionable service in relation to any Member means his/her last or only continuous period of actual or credited service whilst a full member up to (and including) his/her retirement date in years and completed months up to a maximum of 35 years....

perfect competition
A market structure in which the following five criteria are met: 1. All firms sell an identical product. 2. All firms are price takers. 3. All firms have a relatively small market share. 4. Buyers know the nature of the product being sold and the prices charged by each firm. 5. The industry is characterized by freedom of entry and exit. Sometimes r...

performance budgeting
Budgeting based on the outcomes programs expect to achieve....

period of notice
The period of notice corresponds to the time between the moment the holder gives notice of intention to redeem the instrument and the date the holder is allowed to convert it into cash without incurring a penalty. ECB/1998/16...

periodicity
Periodicity is the quality of occurring at regular intervals (e.g. of time) and can occur in different contexts: A clock marks time at periodic intervals. A metronome ticks at periodic intervals. A publication published at periodic intervals can be called a `periodical`, though it can also be called magazine. In mathematics, a function which recur...

peripheral workforce
The peripheral workforce consists of those on part -time and short-term contracts, consultants, sub-contractors and others with no permanent long-term contract. Firms can expand and contract the peripheral workforce according to their business needs and the economic environment. The creation of a peripheral workforce, as with outsourcing, pushes r...

Perkins loan
A need-based, low-interest loan available to students rather than their parents. The amount of the loan is determined by the college and is based on the expected family contribution. Repayment of the loan is delayed until several months after graduation or until the student leaves college....

perliminary injunction
Preliminary injunction (temporary injunction) An order from a court to prohibit or enforce certain conduct on a temporary basis until the court can make a determination based on all the facts and law of the case. The most common example of an injunction in trademark law is a court order to stop using a particular trademark. Since injunctive relief ...

personal care
Personal care activities include sleeping, bathing, dressing, health-related self-care, and personal or private activities. Receiving unpaid personal care from others (for example, `my sister put polish on my nails`) also is captured in this category....

personal equity plan
a means of investing in the stock market via unit trusts. Sometimes used instead of an endowment policy as an investment to provide funds to repay an interest only mortgage (PEP)....

personal income
A person`s total income which includes salary, transfer payments, dividend and interest income etc....

personal loan
A loan given to an individual for any purpose. It is an unsecured loan....

personal saving rate
Personal saving as a percentage of disposable personal income (DPI), frequently referred to as `the personal saving rate,` is calculated on a monthly, quarterly, and annual basis as the ratio of personal saving to DPI....

personal services
Personal services include beauty salons, dry cleaners and travel agents on the convenience side, and car rental and photography on the specialty side....

personal services
Personal services include beauty, dental, health, medical and other similar types of services that are provided to an individual....

personal services
Personal services provide final consumption for households and are characterised by direct contact between the consumer and the service provider. Self-servicing is often a viable alternative to market purchases and market provision predominates. Personal services comprise the following International Standard Industrial Classification (ISIC) Rev. 3 ...

personalization
the phase of the IC card manufacturing process during which customer information is loaded into the card....

personally identifying information
`Personally-identifying information` means your name, address, social security number, bank account, credit card number, telephone number or other information by which you can be personally identified....

personnel costs
Personnel costs are defined as the total remuneration, in cash or in kind, payable by an employer to an employee (regular and temporary employees as well as home workers) in return for work done by the latter during the reference period. Personnel costs also include taxes and employees` social security contributions retained by the unit as well as ...

Phare
Programme of Community aid to central and east European countries....

pharming
Pharming (from farming) exploits the DNS-the Internet system that translates a computer name into an Internet Protocol (IP) address....

Phillips curve
defines the relationship between jobless rate and percentage changes of nominal wages...

phishing
Phishers lure unsuspecting visitors to fake Web sites that look like those of legitimate organisations. The aim is to persuade people to give their passwords and credit-card information, which the thief can then exploit. Among the firms to be targeted in this year`s wave of attacks was PayPal; authentic-looking e-mails were sent out asking people t...

phishing
Phishing is derived from `fishing”-a social engineering attack attempting to trick users into revealing personal information like passwords and credit card numbers. E-mails masquerading as official messages from banks are typical tools used by phishers. Phishing scams hooked unwary Internet users one by one to divulge data. But pharming threaten...

physical capital
Physical capital (economics) refers to infrastructural capital and natural capital in some ambiguous combination. As these are combined in process-specific and firm-specific ways that neoclassical macro-economics does not differentiate at its level of analysis, it is common to refer only to physical vs. human capital and seek so-called `balanced gr...

physical capital
The synthetic resources used to produce goods and services. Capital is a factor of production that has been previously produced. Unlike other types of material items, capital does not become a part of the product. This should be compared with financial capital and human capital....

physical settlement
A derivative instrument is physically settled if the underlier is to be physically delivered in exchange for a specified payment. With cash settlement, the underlier is not physically delivered. Instead, the derivative settles for an amount of money equal to what the derivative`s market value would be at maturity/expiration if it were a physically ...

Pigou`s wealth effect
Pigou`s Wealth Effect: `Consumers feel wealthier, which stimulates the demand for consumption goods.` A decrease in the price level makes consumers feel more wealthy, which in turn encourages them to spend more. The increase in consumer spending means a larger quantity of goods and services demanded....

pit trading
In pit trading, hand signals, as well as vocal open outcry, relay quantity and price information between traders and brokers across the pit. As in any auction situation, a trader`s action or word is a bond. With billions of dollars at stake, each action in the pits is actually a carefully recorded and executed trade agreement. Though seemingly chao...

place of work concept
place of work concept - method by which an employed individual is counted in the area where he/she works regardless of the area where he/she lives....

plain text
Also known as ASCII text. Words and figures in unencrypted, unformatted, readable form....

plain text
Plain Text is text completely stripped of HTML and appears in it`s raw form of black and white, with no colors, images or sounds. An email program must have the ability to send plain text as well as multimedia text so that the email can be viewed on all platforms, such as wireless web phones and PDAs....

plain vanilla bond
Straight bonds have a coupon attached that remains constant over the entire maturity. The repayment of capital is effected once the maturity has expired. Straight bonds in the pure sense of the term, i.e. excluding any specific add-on features (such as call/put options, caps, floors, etc.) are often dubbed plain vanilla bonds....

plain vanilla transaction
the most common and generally the simplest types of derivatives transaction. Plain vanilla is a relative concept, and no precise list of plain vanilla transactions exists. Transactions that have unusual or less common features are often called exotic or structured....

planchet
Planchets are formed after the blanks from the blanking press go through the upset mill, creating the raised edges necessary for proper striking....

plastic card
Generic description of all payment cards including credit, debit and cheque guarantee. Types of plastic card: Affinity Card - A credit card which enables the card issuer to make a donation to an organisation (often a charity) every time the card is used.) ATM (Automated Teller Machine) Cards - Also known as a cash card, cash dispenser card or cash ...

plate mark
Plate mark, a special mark or emblematic figure stamped upon gold or silver plate, to indicate the place of manufacture, the degree of purity, and the like; thus, the local mark for London is a lion....

pledge
a delivery of property to secure the performance of an obligation owed by one party (debtor/pledgor) to another (secured party). A pledge creates a security interest (lien) in the property so delivered....

pledge
An article given by a borrower (pledgor) to a lender (pledgee) as a security for a debt. It remains in the ownership of the pledgor although it is in the possession of the pledgee until the debt is repaid. www.`>http://www.`>www....

pledge agreement
A pledge agreement is security document, in which the pledgor (usually the borrower) agrees to pledge collateral to the lender to secure a borrower`s obligation to a lender. The collateral securing the loan in a pledge agreement is stock, cash, securities or other collateral that the lender must take physical possession of to perfect its security i...

pledgee
person to whom a pledge is given...

PMI
The Purchasing Managers` Index (PMI) is the major element of the Manufacturing NAPM Report on Business®. The PMI is a composite index based on the seasonally adjusted diffusion indexes for five of the indicators (New Orders, Production, Supplier Deliveries, Inventories, and Employment) with varying weights. Diffusion indexes have the properties o...

podium
A small raised platform on which a presenter may stand....

podium
A stand for holding the notes of a public speaker; a lectern....

point of sale
this term refers to the use of payment cards at a retail location (point of sale). The payment information is captured either by paper vouchers or by electronic terminals, which, in some cases, are designed also to transmit the information. Where this is so, the arrangement may be referred to as `electronic funds transfer at the point of sale` (EFT...

point of transaction
The physical location where a merchant or acquirer (in a face-to-face environment) or an unattended terminal (in an unattended environment) completes a transaction....

pointed arch
Gothic or Pointed Arch. An arch, with relatively high rise, whose sides consist of arcs or circles, the centers of which are at the level of the spring line. The Gothic arch is often referred to as a drop, equilateral, or lacent arch, depending on whether the spacings of the center are respectively less than, equal to, or more than the clear span....

pointed arch
In Gothic architecture, a doorway or window with a point on the top, like an arrow directing eyes upward....

poison pill
A strategy used by corporations to discourage the hostile takeover by another company by making its stock less attractive to the acquirer. INVESTOPEDIA...

political economics
Political Economics is an interdisciplinary field focusing on the non-market, collective, and political activity of individuals and organizations....

political risk
Political risk: eight risks usually comprising currency inconvertibility, expropriation, war and insurrection, terrorism, environmental activities, landowner actions, non-government activists, legal, and bureaucratic/approvals. The first three are insurable. It overlaps with the political component of Force Majeure risk....

pool of potential workers
defined as the unemployment component of the labor force plus those not actively seeking jobs but who would like to work...

pooling
Pooling system= a system for central banks` collateral management where the counterparties provide a pool of assets to serve as collateral in their transactions with the central bank. In contrast to an earmarking system, the underlying assets are not earmarked for individual transactions in a pooling system....

pooling of interests
The death of pooling, used in mega-deals such as the Citicorp-Travelers and Exxon-Mobil mergers, will fundamentally alter the M&A landscape. Under the plan proposed by the Financial Accounting Standards Board, beginning Jan. 1, 2001, merging companies will no longer be able to simply combine their balance sheets and avoid big merger charges from go...

pooling system
In pooling systems, it is the pool as a whole, and not the specific assets, that secures all of the credit extended to a counterparty....

pop
short-term rise in the stock price during the first days of trading...

porcini mushroom
Also known as Cepe or Boletus, it has a extremely rich flavor. Porcini is one of the finest mushrooms and exceptionally delicious....

pork shoulder
The shoulder is the primal cut that includes the front leg and the section at the top of the leg. It contains a higher level of fat than the other cuts of pork, which provides it with a lot of flavor and tenderness, but also causes the cuts from this area to add more fat into our diets than the meat from some of the other primal cuts. The fat conte...

portable skills
Transferable or portable skills are the things you have learned as a result of living or working that you can carry to your next position. Examples of such transferable skills include diplomacy, leadership, efficiency, sales ability, decision-making, project-managing, writing and oral presentation....

portal
A portal is a kind of Web site. The term originated with large, well-known Internet search engine sites that expanded their features to include email, news, stock quotes, and an array of other functionality. Some corporations took a similar approach in implementing their intranet sites, that then became known as enterprise information or corporate ...

portfolio
Combined holding of more than one stock, bond, commodity, real estate investment, cash equivalent, or other asset by an individual or institutional investor. The purpose of a portfolio is to reduce risk by diversification....

portfolio investment
investments in equity securities, debt securities and money market instruments are included, with the exception of transactions in these instruments which fall into the category of either direct investment or reserve assets. ECB/1998/17 Annex 3...

portfolio investment
Portfolio investment is a technical term to describe liabilities to and claims on nonresidents in the form of securities....

POS
POS: Point of Sale: retail location where a card is used for payment. Payment information is captured by means of a paper voucher or electronic terminals. If the payment data are forwarded electronically, the term `electronic funds transfer at the point of sale` (`EFTPOS`) is used....