Copy of `Oesterreichische Nationalbank - Dictionary`

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

retail fund
Property investment vehicles that are available to invest in by private investors. Initial investment is much smaller than that required by wholesale funds....

retail fund
retail public funds: Retail funds authorised by the SFC. Where funds authorised by the SFC are offered to institutional clients only, these should be classified under `Institutional Funds`. Where funds are offered to both retail and institutional clients, these should be separately identified and classified accordingly....

retail loan
Lending money to the customer either on a direct or third party basis through a dealer so that they may purchase a piece of equipment. A lien is filed against the equipment to secure the debt....

retail payments
payments of limited value between consumers and between consumers and businesses...

retail payments
this term describes all payments which are not included in the definition of large-value payments. Retail payments are mainly consumer payments of relatively low value and urgency....

retail trade
Retail trade is a form of trade in which goods are mainly purchased and resold to the consumer or end-user, generally in small quantities and in the state in which they were purchased (or following minor transformations). This corresponds to the NACE Rev. 1 Division retail trade, except of motor vehicles and motorcycles; repair of personal and hous...

retained earnings
Retained earnings are earnings and profits not distributed to shareholders as dividend, but held back to be invested or `plowed back` into the corporate enterprise. There are three sources of corporate funds: debt, equity, and retained earnings. Debt securities consist of notes, bonds, and debentures. Notes are short-term promissory notes. Bonds ar...

retained earnings
The portion of net income retained for reinvestment in the company rather than being paid in dividends to shareholders. But remember, retained earnings of, say, $10 million doesn`t mean the company has $10 million sitting around in cash. Instead it means that over the years the company has held back $10 million in profits which, in all likelihood, ...

retained earnings
The total amount of a company`s net earnings since its inception, minus any payments made to stockholders. Retained earnings is actually part of...

retained earnings
What`s left of earnings after dividends are paid. These are cumulative; they`re additions to capital earned since a company`s birth....

retire
To end the period of life during which one works....

retired dependency ratio
The retired dependency ratio is the ratio of those retired to those working. dependency...

retirement benefits
`retirement benefits` means benefits in the form of payments, whether for life time, a temporary period or as a lump sum, paid on death, disability, cessation of employment or when a defined age is reached, or support payments or services in case of sickness, indigence or death when they are supplementary to those benefits;...

re-transfer
An outright transaction implies a full transfer of ownership from the seller to the buyer with no connected reverse transfer of ownership....

return on assets
Indicator of profitability. Determined by dividing net income for the past 12 months by total assets. Result is shown as a percentage....

return on assets
The latest 12 months` net income divided by the total assets from the most recent quarter. (The five year data is also given.) This ratio is a measure of a firm`s effectiveness in using the assets at hand in generating earnings. Return on assets should be of special interest to investors in bank stocks. In banking, an ROA of 1 percent or better is ...

return on equity
Indicator of profitability. Determined by dividing net income for the past 12 months by common stockholder equity (adjusted for stock splits). Result is shown as a percentage. Investors use R.O.E. as a measure of how a company is using its money. R.O.E. may be decomposed into return on assets (R.O.A.) multiplied by financial leverage (total assets/...

return on investment
A measure of a corporation`s profitability, equal to a fiscal year`s income divided by common stock and preferred stock equity plus long-term debt. More generally, the income that an investment provides in a year....

revaluation accounts
Revaluation accounts shall mean balance sheet accounts for registration of the difference in the value of an asset or liability between the (adjusted) cost of its acquisition and its valuation at an end-of-period market price, when the latter is higher than the former in case of assets, and when the latter is lower than the former in case of liabil...

revalued earnings
`Revalued Earnings` in relation to a Member means the average of the highest basic salaries received by the Member over 30 years of Pensionable Service, increased in line with the annual salary adjustments in accordance with the Conditions of Employment up to the date of leaving Service, retirement or death; (EZB-Dienstbestimmungen)...

revalued earnings
Sometimes earnings are used to work out benefits. If the figures for these earnings have been index-linked (for example, changed to take account of price rises), they are called revalued earnings....

revenue
In business, revenue is the amount of money that a company actually receives from its activities, mostly from sales of products and/or services to customers. To investors, revenue is less important than profit, or income, which is the amount of money the business has earned after deducting all the business`s expenses....

revenue neutral
If the government decide to reduce the level of taxation, they may also want to reduce the level of government expenditure by an equivalent amount. This would mean that the tax cut has no effect on the PSNCR. It is therefore termed a revenue-neutral policy....

revenue recognition principle
The revenue recognition principle requires the revenue to be recognized at the time it is earned. The inflow of assets associated with revenue does not have to be in the form of cash. Revenue is earned at the time services are rendered or at the time title to goods sold is transferred. The amount of revenue equals cash received plus the cash equiva...

revenue sharing
The splitting of operating profits and losses between the general partner and limited partners in a limited partnership. More generally, the practice of sharing operating profits with a company`s employees, or of sharing the revenues resulting between companies in an alliance....

revenues and outlays
revenues: Funds collected from the public arising from the sovereign power of the government. Federal revenues consist of receipts from income taxes (individual and corporate), excise taxes, and estate and gift taxes; social insurance contributions; customs duties; fees and fines; and miscellaneous receipts, such as Federal Reserve earnings, gifts,...

reverse
refers to the back of a coin...

reverse
The side of a coin or medal regarded as of lesser importance; in colloquial parlance, the `tails` side....

reverse floater
A mortgage-backed bond whose yield fluctuates in the opposite direction of interest rates in general....

reverse floater
Reverse floaters are bonds with a floating interest rate, where a variable reference interest rate is periodically subtracted from a fixed interest rate (e.g. 12% less 6-month LIBOR). Unlike with plain vanilla floaters, the price risk of reverse floaters is very high....

reverse of the note
Source as in recto....

reverse repo
a contract with a counterparty to buy and subsequently resell securities at a specified date and price, the mirror image of a repo....

reverse repo
The same transaction as a repo but in reverse - Counterpart A loans money and buys securities from counterpart B. One person`s repo is another`s reverse....

reverse transaction
Reverse transactions refer to operations where the ESCB buys or sells eligible assets under repurchase agreements or conducts credit operations against eligible assets as collateral....

review
annual structured dialogue leading to agreements on core objectives and tools for personnel development...

review for effectiveness
Effektivität = Grad der Wirksamkeit Die Effektivität sagt aus, wie gut ein Ziel erreicht wird. Es muss darauf geachtet werden, in welchem Verhältnis das Output und der tatsächliche Grad der Zielerreichung stehen. Die effiziente Erfüllung (ausgewogenes Input-Output-Verhältnis) von Aufgaben (z.B. Bürgerbüro) muss nicht bedeuten, dass es effektiv ist,...

revocability
Revocability means the possibility for the originator of a payment order to lawfully cancel it. This definition does not cover the right of a payer to reject a debit from his account based on a direct debit transaction, since the execution of the payment is, generally, initiated by the beneficiary and not by an order of the originator. So far, only...

revolving debt
includes credit-card, retail and bank-card borrowing...

RGB
color spectrum: red/green/blue...

rho
Rho is a measure of the amount an option`s price would be expected to change to reflect a change in market interest rates....

rho
The rho of an option indicates the change of the option price with respect to a minor change in the riskfree interest rate. In mathematical terms, the rho is the first partial derivative of the option price function with respect to the riskfree interest rate....

Ricardian equivalence
Ricardian equivalence in economics is a controversial theory which suggests that government budget deficits do not affect the total level of demand in an economy. It was proposed by the 19th century economist David Ricardo. In simple terms, the theory can be described as follows. Governments may either finance their spending by taxing current taxpa...

richness
Quality of Information (defined by the user)...

right
Privilege granted shareholders of a Corporation to subscribe to Shares of a new Issue of Common stock before it is offered to the public. Such a right, which normally has a life of two to four weeks, is freely transferable and entitles the holder to Buy the new common stock below the Public offering price....

right in rem
A right against property, easement, etc., instead of against a particular person....

right of first refusal
The right of a party to acquire property before it is offered to others....

right of rescission
The right of a consumer to nullify a contract within three business days of signing it without paying a penalty or down payment....

rights issue
A rights issue is an issue of new shares for cash to existing shareholders in proportion to their existing holdings. A rights issue is, therefore, a way of raising new cash from shareholders - this is an important source of new equity funding for publicly quoted companies. Why issue shares to existing shareholders? Legally a rights issue must be m...

ringfencing
financial ringfencing means that the entity is self-accounting in terms of profits and losses, has a sustainable balance sheet based on commercial accounting principles and has no hidden financial or other support···...

rise and fall clause
abgeleitet von der Definition: a building contract clause that allows the final pricing to move up or down according to the fluctuations of material prices or wages....

risk aversion
A risk-averse investor is one who, when faced with two investments with the same expected return but different risks, prefers the one with the lower risk....

risk capital market
`risk capital markets` means markets providing equity financing to a company during its early growth stages;...

risk factor
a variable that affects the value of financial instruments or an entire portfolio. The most common market risk factors are interest rates, foreign exchange rates, equity prices and commodity prices....

road pricing
road-pricing - charging road users by the distance they travel...

roaster
The broiler-fryer can weigh up to 3 1/2 pounds and is usually around 2 1/2 months old. These chickens, as the name implies, are best when broiled or fried. The more flavorful roasters have a higher fat content and therefore are perfect for roasting and rotisserie cooking. They usually range between 2 1/2 and 5 pounds and can be up to 8 months old....

rocket
1. A Mediterranean plant (Eruca vesicaria subsp. sativa) having flowers with purple-veined, yellowish-white petals and leaves that are sometimes used in salads. Also called arugula, rocket salad, roquette....

roll over
to continue (a loan, debt) in force for a further period...

rolling settlement
a procedure in which settlement takes place a given number of business days after the date of the trade. This is in contrast to account period procedures in which the settlement of trades takes place only on a certain day, for example a certain day of the week or month, for all trades that occurred within the account period....

rolling settlement
a situation in which settlement of securities transactions takes place each day, the settlement of an individual transaction taking place a given number of days after the deal has been struck. This is in contrast to a situation in which settlement takes place only on certain days - for example, once a week or once a month - and the settlement of an...

rolling settlement
In a Rolling Settlement, all trades outstanding at end of the day have to be settled, which means that the buyer has to make payments for securities purchased and seller has to deliver the securities sold. In India, we have adopted the T+5 settlement cycle, which means that a transaction entered into on Day 1 has to be settled on the Day 1 + 5 work...

RON
On 1 July 2005, the addition of the new Romanian leu (RON). The former Romanian leu will remain in circulation until 31 December 2006 (RON 1 = ROL 10 000)....

ROSC
To help foster countries` implementation of these `rules of the road,” the IMF has prepared experimental country case studies known as ROSCs (Reports on the Observance of Standards and Codes) that assess a country`s progress in observing internationally recognized standard and codes....

routing number
ABA Number/Routing Number: Nine-digit routing transit number assigned to financial institution; also known as R/T number....

routing number
The nine-digit number is assigned to each institution (bank) by Thomson Financial and listed in its publication, Key to Routing Numbers. It is also called the American Bankers Association (ABA) number, the Commercial Bank Indicator (CBI) number, the routing transit number, or the nine-digit routing number....

RSD
The ISO 4217 code for the dinar is RSD (until October 25, 2006, it was CSD), the three-digit identifier is 941 (previously 891),...

RSS feed
Since mid-2000, use of RSS has spread to many of the major news organizations, including Reuters, CNN, PR Newswire, Business Wire, and the BBC. These providers allow other websites to incorporate their `syndicated` headline or headline-and-short-summary feeds under various usage agreements. RSS is now used for many purposes, including marketing, bu...

RTGS account
`RTGS account` shall mean an account (or, to the extent permitted in accordance with the relevant RTGS rules in question, any group of consolidated accounts, provided that all such account holders are jointly and severally liable vis-à-vis the RTGS system in case of default) opened in the name of a participant on the books of an NCB or the ECB on ...

RTGS communication component
Component within the RTGS responsible for implementing the communication process with its participants....

RTGS rules
`RTGS rules` shall mean the regulations and/or contractual provisions, which are applied to a national RTGS systemECB/2001/3...

RTGS system
A settlement system in which processing and settlement take place on an order-by-order basis (without netting) in real time (continously)....

RTGS system
An RTGS system is defined in this report as a gross settlement system in which both processing and final settlement of funds transfer instructions can take place continuously (i.e. in real time). As it is a gross settlement system, transfers are settled individually, that is, without netting debits against credits. As it is a real­time settlement ...

RUB
RUB 1 = RUR 1,000. Entry into force on January 1, 1998. Concurrent circulation until 2002....

sacrifice ratio
The sacrifice ratio is the relation between production or income losses suffered during a period of disinflation and the reduction in the inflation rate achieved. It indicates what percentage of the annual gross domestic product must be `sacrificed` in order to reduce inflation by one percentage point. The sacrifice ratio therefore serves as the ya...

SAF
structural adjustment facility...

safe custody account
A securities account managed by the central bank on which credit institutions can place securities deemed suitable to back central bank operations....

salary account
Current account with a credit institution to which the employer transfers the salary or wages at regular intervals; also referred to as giro account, current account or personal account....

sale-and-leaseback transaction
A sale-and-leaseback transaction occurs when one party, often a corporation, sells assets such as real estate to another party, often a financial institution, and at the same time enters into an agreement to lease the assets for a pre-determined period of time. Reasons for such a transaction include the desire to free up cash, reduce assets held on...

sample size
The number of questionnaires completed in a survey. Usually equals the number of people interviewed. Often shown in computer printouts as N. See also effective sample size....

sampling error
An error arising from the fact that it is not statistically possible, short of a 100 percent sample, to select a sample which corresponds perfectly to the population from which it is selected. As the size of a sample increases, the magnitude of the sampling error decreases. Sampling errors differ from other kinds of statistical errors in that they ...

Sarbanes-Oxley Act
The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise. The act is administered by the Securities and Exchange Commission (SEC), which sets dea...

Saturday work
This should be interpreted in terms of formal working arrangements. Thus employees who, on their own initiative, take some of their work home or work at the place of business on Saturdays should not be included in this classification, even if they have done during the reference period of four weeks preceding the interview....

saving
This aggregate measures the portion of national disposable income that is not used for final consumption expenditure. Gross (or net) national saving is the sum of the gross (or net) savings of the various institutional sectors....

savings and loan association
Sometimes called building and loan associations, cooperative banks, or homestead associations. The institutions accept deposits primarily from individuals, and channel their funds primarily into residential mortgage loans. Most savings and loan associations are technically owned by the depositors who receive shares in the association for their depo...

savings bond
A registered, non-callable, non-transferable bond issued by the U.S. Government, and backed by its full faith and credit. Face values range from $50 to $10,000. Tax-deferred....

savings bond
The Federal Government sells savings bonds in amounts ranging from fifty dollars to ten thousand dollars. Savings bonds are popular because they may be purchased in small amounts and are widely available at banks, through payroll deduction plans and directly from the U. S. Treasury. Savings bonds do not pay regular cash interest payments. Instead, ...

savings deposits
Savings deposits are monies deposited with credit institutions; they serve as investments and are not used for payment purposes. On accepting such deposits, credit institutions must issue specific documents (such as savings books....

savings ratio
The savings ratio measures the amount saved as a percentage of real personal disposable income....

scalability
A popular technology term describing how well software or hardware can adapt to increasing demands. For example, a scalable e-Catalog data aggregation system can start with just 1,000 products, but can easily be expanded to accommodate the addition of thousands more in products....

scalar
Scalars are quantities which are fully described by a magnitude alone....

scale variable
A named set of data where in principle any numeric value could be found: Temperature, Salary, Distance....

scatter plot
A scatterplot is a way to visualize bivariate data. A scatterplot is a plot of pairs of measurements on a collection of `individuals` (which need not be people). For example, suppose we record the heights and weights of a group of 100 people. The scatterplot of those data would be 100 points. Each point represents one person`s height and weight. In...

scenario analysis
Scenario analysis is a process of analyzing possible future events by considering alternative possible outcomes (scenarios). The analysis is designed to allow improved decision-making by allowing more complete consideration of outcomes and their implications....

scenario analysis
The use of horizon analysis to project bond total returns under different reinvestment rates and future market yields....

scenario approach
Scenario approach: More sophisticated banks will also have the right to base the market risk capital charge for options portfolios and associated hedging positions on scenario matrix analysis. This will be accomplished by specifying a fixed range of changes in the option portfolio`s risk factors and calculating changes in the value of the option po...

schedule chart
a form of Gantt chart that shows the orders or jobs in progress and whether they are on schedule....

schedule chart
A schedule is a task list that has a time scale added. Usually the time scale is in the form of time bars that graphically show the planned or doing duration of a task A Schedule chart (sometimes called a Bar or Gantt Chart) is used to provide a graphical view of the task - time relationships. The task break down structure indicates the relationsh...

schedule chart
schedule chart: a diagram used in project management, planning, and scheduling. The schedule chart shows the different resources and activities involved in a project and time dependencies between them. With this diagram, a critical path can be found that indicates the shortest time that the project can be completed in based on viewing the longest a...

schilling
the Austrian currency up to the introduction of the euro in 1999 and 2001...

Schinderling
Schinderling, low-value coin with low silver content; coined 1457-1460 as pfennig and kreuzer by the mints under Friedrich III (except in Vienna), by members of the aristocracy who had been granted coinage rights and by the mints under Albrecht VI in what today is Upper Austria. The resulting inflation was relieved by an exchange at a 4 : 1 ratio b...

scrip
A piece of paper representing or acknowledging value, such as a receipt or certificate, given in lieu of currency....