Copy of `Oesterreichische Nationalbank - Dictionary`

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

the employed
The employed in national economy: all persons aged 15+, who during the reference period worked at least one hour for wage or salary or other remuneration as employees, entrepreneurs......

theory of public finance
The central question of this book is whether the assignment of government functions to the individual jurisdictions in a federal state can ensure an optimal allocation of resources and a fair income distribution. The analysis thereby gives a new answer to the old question about the optimal degree of fiscal decentralization in a federal state. It sh...

there are many ways to skin a cat
.. there are many different ways of doing the same thing....

thesis
A proposition that is maintained by argument; A hypothetical proposition, especially one put forth without proof....

theta
The theta of an option shows the change of the option price with respect to a minor change in the time to maturity. In mathematical terms, theta is the first partial derivative of the option price function with respect to the option`s time to maturity....

theta
Theta is a measure of the amount an option`s price would be expected to change to reflect the passage of time....

thin market
A market for a security in which there are relatively few offers and bids. A thin market causes reduced liquidity and makes it more difficult to buy or sell the security without affecting its price....

Third Market
New listing on Wiener Börse from January 2, 2002; replaces the Unregulated Market. (other segments: Official Market, Semi-official Market)...

third-party transfer
Third party transfer is defined as one that results in a change of beneficial ownership,...

tick
The smallest allowable increment of price movement for a contract....

ticker symbol
The abbreviation by which a security appears on stock quotation machines. For example, XON represents Exxon, AN represents Amoco, etc. Booklets containing the symbols are available at most brokerage offices....

ticker tape
The narrow continuous rolls of paper on which stock transactions were printed before the electronic age made the old system obsolete. The term now refers to the flow of prices appearing on the boards of brokerage firms. Also called tape....

tier 1 capital
Tier 1 capital is the highest form of capital of the bank and is regarded by the Financial Services Authority (FSA) as broadly equivalent to equity. This means it must be capable of absorbing losses so that the bank can continue trading even if it makes losses up to the value of that capital. The majority of this capital is made up of: fully paid-u...

Tier 3 capital
Tier 3: Short term subordinated debt; Daily net trading book profits net of foreseeable charges & dividends;...

tier one asset
The Eurosystem accepts a wide range of underlying assets for its credit operations. A distinction is made between two categories of eligible assets: tier one and tier two. Tier one consists of marketable debt instruments which fulfil the uniform, area-wide eligibility criteria established by the ECB, while tier two comprises other marketable and no...

tight market
A market for securities in which competition is intense and spreads are narrow. In a tight market, dealers must make up in volume what they lose on a narrowing of the spread....

time decay
The common description for the element of the price of an option that is not due to intrinsic value. Extrinsic value would be a more accurate description, as it depends on far more than just time. Time decay is thus the erosion of this value as the option approaches expiry....

time deposits
Certificate of deposits or savings accounts that are held in a financial institution for a set amount of time. The funds cannot be withdrawn until the depositor gives the institution notice. Technically, certificates of deposit do not require any notification to withdraw since the date is set beforehand....

time deposits
For Custodial Accounts, a Time Deposit refers to funds deposited in a savings account or certificate of deposit held in a financial institution for a fixed term or with the understanding that the depositor can withdraw the funds only by giving prior notice. The notice period required must not exceed seven days after the date on which the monies are...

time deposits
Money held in an account for a specific period of time which is not available on demand or may be subjected to penalties for early withdraw....

time deposits
Savings held in the financial institution for a fixed time period (such as six months or a year)....

time deposits
These deposits are put at credit institutions` disposal by customers (nonbanks), are not securitized (see exceptions below) and terms have been agreed for them. OeNBFoS...

time deposits
Time deposits are bank deposits with a given maturity. In principle, they do not serve to handle payments but rather constitute temporary interest-bearing investments. Time deposits may be fixed term or redeemable at notice. These deposits are put at credit institutions` disposal by customers; they are nonsecuritized deposits at agreed terms....

time deposits
Time deposits are not immediately disposable because they are subject to a fixed term or a period of prior notice before withdrawal. They include, for example, deposits with the central bank as a form of compulsory reserves to the extent that the depositors cannot realize them without notice or restriction....

time inconsistency
The failure to maintain an announced policy because the original policy brings about changes in circumstances that then require policy authorities to alter the policy in order to maximize its welfare....

time inconsistency
time inconsistency the situation in which policymakers have the incentive to announce one economic policy but then change that policy after citizens have acted on the initial, stated policy....

time series
A time series typically consists of a set of observations on a variable, y, taken at equally spaced intervals over time....

time to maturity
The time remaining until a financial contract expires. Also called time until expiration....

time value of an option
The amount of money option buyers are willing to pay for an option in the anticipation that, over time, a change in the underlying futures price will cause the option to increase in value. In general, an option premium is the sum of time value and intrinsic value. Any amount by which an option premium exceeds the option`s intrinsic value can be con...

title transfer
conveyance of the ownership interest in property from one counterparty to another. Title transfer is used as one of the methods for collateralisation. The title transfer method employs an outright transfer of the ownership interest in property serving as collateral, i.e. the collateral provider transfers title or ownership interest to the assets gi...

TLD
TLDs are the names at the top of the DNS naming hierarchy. They appear in domain names as the string of letters following the last (rightmost) `.`, such as `net` in `...

token
(1) In programming languages, a single element of a programming language. For example, a token could be a keyword, an operator, or a punctuation mark. (2) In networking, a token is a special series of bits that travels around a token-ring network. As the token circulates, computers attached to the network can capture it. The token acts like a tick...

token
Any piece of money whose nominal value is greater than its intrinsic value is, strictly speaking, a token or promise. Thus most of the coins issued since 1964 can be regarded in this light, but numismatists reserve the term for a piece of limited validity and circulation, produced by tradesmen, chambers of commerce and other organisations during ti...

tolerance
The scope still accepted for deviations from precise weights, measurements or other norms. Weight tolerance naturally plays a major role in coins made of precious metal. The large Vienna Philharmonic gold coin must weigh one ounce and no less, even by a few fraction of a gram. Even stricter weight tolerance limits than the norm apply to precious me...

too big to fail attitude
A company is too big to fail if its failure would wreak havoc in the economy and officials decide to prop up the ailing company to prevent its failure....

toolbar
A configurable strip of buttons that appears by default just below the menu bar. Each item on the toolbar is a shortcut to a menu command....

toolbar
The name of the strip of buttons you usually see at the top, bottom, or side of an application interface. The buttons activate tools. The idea is to help you work faster; if it weren`t for toolbars, you`d have to spend more time figuring out which drop-down menu to select in order to find the option you want to use. A toolbar can be hidden, or it c...

top blade roast
A beef roast cut from above the shoulder blade in the chuck primal. This cut has good marbling and flavor, but can be tough if improperly cooked. Braising is the best method for cooking the top blade roast because the moist heat and lengthy cooking time help tenderize the meat. The top blade roast can also be used as an oven roast if it is of the b...

top loin steak
Boneless top loin steaks are tender and flavorful and are best prepared using grilling, broiling, sautéing, or pan-frying cooking methods. The boneless top loin steak is known by different names depending on the area of the country it is purchased. Various names for boneless top loin steak include: strip loin steak, New York strip steak, Kansas Cit...

TOPAS-TOPIT
TOPAS - an acronym that stands for transforming the OeNB into a partner for risk analysis and supervision of financial stability - is, among other things, geared toward the development of risk-based audits and analyses, the combination of microprudential and macroprudential analyses, the implementation of new rules into law as well as training....

TOPAS-TOPIT
TOPIT - highlights the significant role of IT requirements....

top-down approach
An investment strategy which first finds the best sectors or industries to invest in, and then searches for the best companies within those sectors or industries. This investing strategy begins with a look at the overall economic picture and then narrows it down to sectors, industries and companies that are expected to perform well. Analysis of the...

top-down approach
Top-down equity management style: a management style that begins with an assessment of the overall economic environment and makes a general asset allocation decision regarding various sectors of the financial markets and various industries. The top-down manager then selects a portfolio of individual securities within the favored sectors....

total demand
Domestic demand plus exports....

total equity
total equity comprises nominal capital, statutory and voluntary reserves, profits/losses carried forward, and net credit position...

total income
Total income comprises the income an individual receives from all sources, including wages and salaries, farm and non-farm self-employment, government transfer payments, investment income, retirement pensions and other money income....

total manufacturing trade
In order to ensure consistency with the weighting method used to compute the overall trade weights for the euro EERs, total manufacturing trade is defined as the sum of total euro area exports plus euro area imports from the partner countries....

total net income
item in the OeNB`s profit and loss account...

total spread
The difference between the yield generated by the cash collateral and the rebate paid on the securities loans (or, the in case of loans vs. non-cash collateral, the premium). It is comprised of the demand spread and the reinvestment spread. Also referred to as gross spread, integrated spread or combined spread....

total spread
Total spread refers to total yield less total cost of funds....

total utility
Total utility is the total amount of satisfaction obtained from consumption of a good. Thus, total utility comes from all units consumed....

total weight
The actual weight of the pure gold or silver contained in a coin, ingot, bar or other item with a precious metal content, determined by multiplying the gross weight by the fineness, as opposed to the item`s total weight, which includes the weight of the alloying component....

traceability
in electronic money systems, the degree to which value-transfer transactions can be traced to the originator(s) or the recipient(s) of the transfer....

tradables
The term tradables covers mining, oil and gas as well as manufacturing industry and `extra` financial business services....

trade
(1) (a) buying and selling, (b) business of a particular kind: `be in the cotton, furniture, book trade` i.e. sell or make cottorn, furniture, etc.; (2) way of making a living, esp. a job that involves making something; occupation: `be a butcher, carpenter, tailor etc. by trade. A trade requires training and skill with the hands: `She is a lawyer b...

trade
Distribution of goods and services from producer to consumer through merchandising and service trades, and through international trade channels....

trade credits
Trade credits consist of claims and liabilities arising from the direct extension of credit by suppliers and buyers for goods and services transactions and advance payments for work that is in progress (or to be undertaken) and associated with such transactions....

trade date
The date on which an order is executed. Payment or delivery must be made within five business days of the trade date. Also called transaction date....

trade date
The date when the purchase or sale of a bond is executed....

trade surplus
A positive balance of trade, i.e. exports exceed imports. opposite of trade deficit....

trade-weighted exchange rate
The trade-weighted dollar represents the foreign currency price of the U.S. dollar or the export value of the U.S. dollar. When these index numbers increase, the value of the dollar increases, making it easier for Americans to afford imports, but making American exports more expensive to those in other countries....

trading of goods
Trading of goods between Member States: Any movement of goods from one Member State to another....

training participation rate
The proportion or percentage of persons eligible for a training course or program who actually participate in or benefit from it....

transaction account
A checking account or similar account from which transfers can be made to third parties. Demand deposit accounts, negotiable order of withdrawal (NOW) accounts, automatic transfer service (ATS) accounts, and credit union share draft accounts are examples of transaction accounts at banks and other depository institutions....

transaction date
The date on which a trade (i.e. an agreement on a financial transaction between two counterparties) is struck. The trade date might coincide with the settlement date for the transaction (same-day settlement) or precede the settlement date by a specified number of business days (the settlement date is specified as T + the settlement lag)....

transaction log
a sequential record of transactions that is stored on a device....

Transaction Reference Number
The sender`s unambiguous identification of the transaction. Its detailed form and content are at the discretion of the sender....

transactions with related parties
8.1 Transactions with related parties IAS 24 defines related parties inter alia as parent companies and subsidiaries, subsidiaries of a common parent company, associated companies, legal entities under the influence of management and the management of the company itself....

transfer order
- any instruction by a participant to place at the disposal of a recipient an amount of money by means of a book entry on the accounts of a credit institution, a central bank or a settlement agent, or any instruction which results in the assumption or dis...

transfer price
Transfer price is the price one unit of a business pays for the products or services of another business unit....

transfer pricing
Transfer pricing refers to the pricing of goods and services within a multi-divisional organization. Goods from the production division may be sold to the marketing division, or goods from a parent company may be sold to a foreign subsidiary. The choice of the transfer prices affects the division of the total profit among the parts of the company. ...

transferability
Transferability refers to the possibility of mobilising funds placed in a financial instrument by using payment facilities, such as cheques, transfer orders, direct debits or similar means....

transferable deposits
The sub-category transferable deposits consists of all transactions in transferable deposits that is deposits (in national or in foreign currency) which are immediately convertible into currency or which are transferable by cheque, banker`s order, debit entry or the like, both without any kind of significant restriction or penalty. ESA95, 5.42...

transferable deposits
Transferable deposits comprise all deposits that are (a) exchangeable on demand at par, without penalty or restriction; (b) freely transferable by cheque or giro-order and (c) otherwise commonly used to make payments....

transferable skills
What are transferable skills? Simply put, they are skills you have acquired during any activity in your life -- jobs, classes, projects, parenting, hobbies, sports, virtually anything -- that are transferable and applicable to what you want to do in your next job....

translation unit
While you work, Translator`s Workbench builds a database storing all translated sentences with their source language equivalents. Such a sentence pair is referred to as a translation unit. Translator`s Workbench stores these translation units in a neural network. This innovative technology allows the program to find identical or similar sentences i...

transport key
A key that prevents data being written into a smart card NVM (nonvolatile memory) when it is being transported from the chip manufacturer to the card manufacturer or from the card manufacturer to the card issuer....

travel
Travel covers primarily the goods and services acquired from an economy by travelers (defined in paragraph 243) during visits of less than one year in that economy. The goods and services are purchased by, or on behalf of, the traveler or provided, without a quid pro quo, for the traveler to use or give away. Excluded is the international carriage ...

travel and entertainment card
card issued by a non-bank indicating that the holder has been granted a credit line; it enables the holder to make purchases but does not offer extended credit, the full amount of the debt incurred having to be settled at the end of a specified period; the holder is usually charged an annual fee...

Treasury bill
Treasury Bills are a form of short-term government borrowing. When the government is a little short of funds temporarily they will make a Treasury Bill issue. The size of the issue depends on how much they need. The Bills are a promise to pay (an IOU) and usually mature after 91 days. They are offered to the money markets by a weekly tender....

Treasury bill
Treasury bills are short-term (usually 3 or 6 months) IOUs issued through the Bank regularly each week. Their main purpose is not to finance government spending but to take cash out of the system in order to facilitate the operation of monetary policy. The amount of Treasury bills issued each week therefore varies to reflect the Bank`s assessment o...

Treasury note
Intermediate-term coupon-bearing U.S. Treasury security having initial maturities from 1 to 10 years and issued in denominations of $1,000 or more, depending on the maturity of the issue. Notes pay interest semiannually, and the principal is payable at maturity....

Treasury note
Treasury Notes are medium-term debt securities issued by the US government. Maturities are usually between 2 and 10 years, typically running 2, 5 and 10 years. The yield of the 10-year Treasury Note is commonly used as the benchmark interest rate....

Treasury security
Interest-bearing obligations of the U.S. government issued by the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. Marketable Treasury securities fall into three categories - bills, notes, and bonds. Marketable Treasury obligations are currently issued in book entry form only; that is, the purchase...

Treasury security
Treasury securities—including Treasury bills, notes, and bonds—are debt obligations issued by the U.S. Department of the Treasury. Treasury securities are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government....

treasury share
Treasury shares (shares issued and then repurchased by the corporation) may be reissued for an amount equal to their fair value even though this amount may be less than the par value or stated value....

Treaty
The short form generally used to refer to the Treaty establishing the European Community, the original version of which - the Treaty often referred to the as the `Treaty of Rome` because it was signed there on 25 March 1957 - entered into force on 1 January 1958 to establish the European Economic Community (EEC). The Treaty establishing the Europea...

Treaty of Accession 2003
The Treaty of Accession is an international agreement concluded between current and new Member States of the European Union. In accordance with the provisions of the Treaty on the European Union, the Treaty of Accession defines the accession conditions of the new Member States and the consequent adaptations and adjustments of the Treaties on which ...

Treaty of Rome
original version of the Treaty establishing the European Community...

trend
Demonstrated and consistent changes (up- or downwards) in price or indicator levels....

trend
The relatively constant movement of a variable throughout a period of time. The period may be short-term or long-term, depending upon whether the trend itself is short-term or long-term. For example, a rising market is taken to mean that prices of most stocks are in an upward trend....

trend output
The concepts of trend (potential) output and the output gap are closely related. Trend (potential) output is defined as the maximum level of GDP which is consistent with stable inflation. The output gap is usually presented as the percentage difference between actual output (or GDP) and trend output (trend GDP). Consequently a positive output gap a...

trial balance
The act of totaling debit balances and credit balances to confirm that total debits equal total credits....

trial strike
A piece struck at any point in the preparation of coin or medal dies. Trial strikes are neve meant to leave the mint, and are made solely for the use of its employees. The paper moneay equivalent of the trial strike is the essay note....

triangle approach
Many of today`s more experienced language professionals will be familiar with the classic `triangle approach` to demand management, in which customers are shown a triangle whose points are labeled `quality,` `speed,` and `price,` and told to pick any two....

triangulation
Triangulation means that you convert francs into euros, and euros into francs, and each time you apply the six digit rule. That means that every bilateral conversion between two national denominations involves two calculations....

triangulation
Triangulation: Monetary amounts to be converted from one national currency unit into another must first be converted into a monetary amount expressed in the euro unit; this amount may not be rounded to less than three decimals and must then be converted into the other national currency unit. No alternative method of calculation may be used unless i...

TRIN
A ratio achieved by taking the advances to declines spread and dividing that by the volume of advances to declines, a technical analysis indicator. If the value of this is less than 1 then it is considered to be a very bullish indicator....

TRIN
The Short Term Trading Index was invented over 30 years ago by Richard Arms and is also known as ARMS Index. It is calculated by dividing advancing issues by declining issues and advancing volume by declining volume. The first result is then divided by the latter and the result is the TRIN....

Trojan horse
A destructive program that masquerades as a benign application. Unlike viruses, Trojan horses do not replicate themselves but they can be just as destructive. One of the most insidious types of Trojan horse is a program that claims to rid your computer of viruses but instead introduces viruses onto your computer....