Copy of `Oesterreichische Nationalbank - Dictionary`

The wordlist doesn't exist anymore, or, the website doesn't exist anymore. On this page you can find a copy of the original information. The information may have been taken offline because it is outdated.

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

cash method of accounting
A system, used especially in computing income tax, in which income is not credited until it is actually or constructively received and expenses are not charged until they have been paid; to be distinguished from the accrual method, in which income is credited when the legal right to the income occurs and expenses are charged when the legal liabilit...

cash option
This is giving up part or all of a pension in return for getting a one-off payment straightaway. It is also called commutation....

cash pooling
Netting all of a company`s payment transaction balances in a special account with the aim of reducing interest on the net balance....

cash ratio
Cash Ratio - a measure of the amount of cash available to offset current debt (Cash / Total Current Liabilities). A ratio below .5 may mean you are having cash flow problems, possibly because of a significant backlog in accounts receivable....

cash services
Cash services means ordering cash from/or depositing cash with a Federal Reserve Bank....

cash settlement
Most financial futures are, therefore, `cash settled` - any positions still open when the contract expires are closed at the settlement price, with the amount to be paid/received being calculated in the same manner as variation margin. (Applied Derivatives Trading - Beginners Guide -...

cashier
Generically this term is applied to a person who has the responsibility of accounting for cash transactions and keeping a record thereof. In a narrower sense it denotes a particular job at a bank normally that of handling cash transactions with the public at the bank counter....

cashier`s division
This department receives and deposits all monies collected for Real Estate taxes, Personal Property taxes, Mobile Home and Hotel-Motel taxes. It records and reconciles all county monies paid in daily, issues tax refunds, pays banks for clearing county warrants (checks), matured bonds and coupons. The department also reconciles monthly bank statemen...

cash-in-transit company
`cash in transit companies` (CITs) shall mean entities providing transport, storage and handling services of banknotes and coins for credit institutions...

cash-or-nothing option
Similar to an n except that the cash-or-nothing option pays out the exercise price to the holder of the option if the asset value is greater than the exercise price. The holder pays only the initial option premium, not an exercise price....

casual employee
Casual - People with short term Casual contracts of employment. Recent changes in employment legislation have affected the rights of casual employees to apply for permanent jobs. This has resulted in a sharp reduction of casual employees....

casual employment
Employment might be considered casual when it is not in the usual course of trade, business, occupation, profession of the employer or `irregular, unpredictable, sporadic, and brief in nature.` One Indiana case defined casual as `happening or coming to pass without design, and without being foreseen or expected, coming without regularity, occasiona...

casual job
A job in which work hours vary substantially from one week to the next; or the employee is called to work by the employer when the need arises, not on a pre-arranged schedule; or the employee does not usually get paid for time not worked, and there is no indication from the employer that he/she will be called to work on a regular, long-standing bas...

caucus
A closed meeting of party members within a legislative body to decide on questions of policy or leadership....

cause examination
Cause examinations address a particular problem or event identified through a variety of sources, such as customer complaints or terminations for cause of registered representatives by broker-dealers and FOCUS report reviews. Referrals from federal or state authorities may also trigger a cause examination. Cause examinations by Enforcement Departme...

CBR
Central Bank of Russia (CBR)...

CCBM
`CCBM` shall mean the correspondent central banking model for the cross-border use of collateral as established by the ESCB...

CD-ROM
CD-ROM (Compact Disc, read-only-memory) is an adaptation of the CD that is designed to store computer data in the form of text and graphics, as well as hi-fi stereo sound. The original data format standard was defined by Philips and Sony in the 1983 Yellow Book....

CEE
Central and Eastern Europe...

census
Survey of a whole population. Most countries have a Population Census (with a capital C) every 5 or 10 years, but a researched population can be much smaller. Thus a census (with a small c) of all staff of an organization would be a survey where everybody was sampled....

cent
Subunit of the single European currency (euro) introduced in the euro area countries at the beginning of the third stage of Economic and Monetary Union on January 1, 1999. 1 euro is divided into 100 cent. The ISO currency code is EUR, and the symbol € is also used. In January 2002, the twelve euro area countries mastered the euro cash changeover an...

center of economic interest
The term centre of economic interest indicates the fact that there exists some location within the economic territory on, or from, which a unit engages, and intends to continue to engage, in economic activities and transactions on a significant scale, either indefinetely or over a finite but long period of time (a year or more). It follows that a u...

central bank
The subsector `the central bank` (S. 121, ESA 95) consists of all financial corporations and quasi-corporations whose principal function is to issue currency, to maintain the internal and external value of the currency and to hold all or part of the international reserves of the country....

central bank money
currency and central bank deposits held by credit institutions...

central counterparty
A central counterparty is a utility that stands between buyers and sellers to guarantee that money and securities will change hands, allowing the smooth completion of trades. The counterparty also allows banks and securities firms to offset, or net, a large chunk of their buy and sell orders, thereby reducing the amount of capital needed to back tr...

central counterparty
an entity that is the buyer to every seller and seller to every buyer of a specified set of contracts, e.g. those executed on a particular exchange or exchanges....

central counterparty netting
`Central counterparty netting` refers to situations when the clearing house interposes itself as as buyer to the seller and as a seller to the buyer, thus creating two new contracts which replace the original single contract....

Central European Initiative
The Central European Initiative (CEI) is composed of 17 Member States: Albania, Austria, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Italy, Macedonia, Moldova, Poland, Romania, Serbia and Montenegro, Slovakia, Slovenia and Ukraine. They embrace a territory of 2.4 million square kilometres and a population of nea...

central government
Administrative departments of the State and other central agencies whose competence extends over the whole economic territory, except for the administration of social security funds....

central government debt
Es gibt eine Unterscheidung zwischen der reinen Finanzschuld des Bundes (= federal government debt; siehe oebfa-Homepage) und dann gibt es noch eine Verschuldung laut ESVG 1995, die Verschuldung des Bundessektors (= central government debt). Der Begriff der Verschuldung des Bundessektors (oder Bundesebene) ist weiter gefasst und enthält neben der F...

Central Securities Board
A Central Securities Board (Devisenzentrale) was set up on Feb. 24 1916; and regulations were issued on Dec. 19 1916 and June 18 1918, attaching a series of conditions to dealings in foreign money, bills and securities, which amounted actually to a monopolizing of all such operations by the Devisenzentrale....

centralized scheme
This is a pension scheme which is used by several employers....

certain quotation method
1 euro = x foreign currency units; the euro is the `base` currency....

certificate of deposit
A time deposit with a specific maturity evidenced by a certificate....

certificate of deposit
Certificates of Deposit or CD`s are issued by banks and other institutions for fixed periods of time (three months to five years). CD`s offer more interest than bank savings deposits but are `locked in` for the period of purchase. CD`s are usually insured up to $100,000 and therefore have little risk....

certificate of participation
Financing in which an individual buys a share of the lease revenues of an agreement made by a municipal or governmental entity, rather than the bond being secured by those revenues....

certification authority
an entity entrusted with creating and assigning public key certificates....

certified public accountant
A person who has met state requirements for education and work experience, passed a national exam, and met other licensing requirements. Certified Public Accountants in public accounting practice prepare tax returns, perform audits, do accounting, and give advice to their clients on financial matters....

certified public accountant
An individual who has received state certification to practice accounting....

certified translation
In the United States a certified translation consists of the following three parts: 1) The source-language (original) text 2) The target-language (translated) text 3) A statement signed by the translator or translation company representative, with his or her signature notarized by a Notary Public, attesting that the translator or translation compan...

CES
CES stands for constant elasticity of substitution. This is a function describing production, usually at a macroeconomic level, with two inputs which are usually capital and labor....

CESR
The CESR was established as an independent committee of European securities regulators. All undertakings, standards, commitments and work agreed within the Forum of European Securities Commissions (FESCO) will be taken over by the CESR. The role of this Committee is to improve co-ordination among securities regulators; act as an advisory group to a...

CESTAT
Statistical Bulletin Published since 1992. This is a statistical publication prepared jointly by statistical offices of six Central European CEFTA members (Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia), which are united in the group CESTAT (Central European Co-operation in Statistics). The publication brings most important inter...

ceteris paribus
e.g. in a demand curve or schedule, the assumption that factors other than price which influence demand (such as consumer incomes and tastes) are held constant....

CFA
In the French Empire monetary union did not arrive until 1945, when the newly restored government in Paris decided to consolidate the diverse currencies of its many African dependencies into one money, le franc des Colonies Françaises d`Afrique (CFA francs). Subsequently, in the early 1960s, as independence came to France`s African domains, the old...

chained index weighting
Chained index weighting is an alternative way of weighting together the subaggregates that form GDP. The key difference to the fixed-weight aggregation, used in most countries, is that the prices are continuously updated and that `substitution bias` is avoided and that measures are independent of the choice of base year....

chapter 11 bankruptcy
Chapter 11 bankruptcy is available for corporations, partnerships, and individuals, but is used mostly by troubled corporations and partnerships. Chapter 11 allows the debtor to remain in operation while working out a reorganization plan in which the debtor proposes a plan of paying or settling the debts. The creditors vote on the reorganization pl...

charge card
Charge card: credit card with a limited deferral period prior to the final debiting of the cardholder`s account....

charge card
Different from a credit card as they generally have an annual fee and require the balance to be paid monthly....

Chargé d`affaires
charge d`affaires - the official temporarily in charge of a diplomatic mission in the absence of the ambassador diplomat, diplomatist - an official engaged in international negotiations...

charges register
the charges register contains particulars of registered mortgages or charges secured on the property. It also contains notice of other rights and interests to which the property is subject, such as leases, rights of way or covenants restricting the use of the property. The register will show for example, if there is a charge under the Housing Acts ...

chart of accounts
A Chart of accounts is a list of all accounts tracked by a single accounting system, and should be designed to capture financial information to make good financial decisions. Each account in the chart is assigned a unique identifier, typically an account number. Each account in the Anglo-Saxon chart is classified into one of the five categories: As...

charter
A formal document that creates a corporation....

chartered accountant
Chartered accountant (CA) is a brand originated from British Royal Charter and widely spread in British Commonwealth since its inception in 19th century. The standard for UK CAs is said to be equivalent to a British degree....

chartered accountant
The equivalent designation in Canada and United Kingdom of an accounting professional who has obtained their CPA....

chattel mortgage
A chattel mortgage is a security over chattels (that is, movable articles of property) held by the lender giving the lender recourse against the chattel in the event of default by the borrower....

cheap money
A loan at below market interest rates. Sometimes referred to as `easy money.`...

checking account
The most common type of bank account used to manage your money in the UK is known as a current account (American English: checking account)....

cheque
a written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer. Cheques may be used for settling debts and withdrawing money from banks....

cheque guarantee card
a card issued as part of a cheque guarantee system. This function may be combined with other functions in the same card, e.g. those of a cash card or debit card....

Chiang Mai Initiative
The Chiang Mai Initiative (CMI), which is a regional financial arrangement for East Asia, was agreed upon at the Finance Ministers` meeting of the South East Asian Nations plus China, Japan and Korea (ASEAN+3) held in May 2000 in Chiang Mai, Thailand. The CMI`s objective is to establish a network of bilateral swap agreements among the ASEAN+3 membe...

Chief Compliance Officer
A Chief Compliance Officer (CCO) is a corporate official in charge of overseeing and managing compliance issues within an organization, ensuring, for example, that a company is complying with regulatory requirements, and that the company and its employees are complying with internal policies and procedures. CCO is one of a growing number of fairly ...

chief financial officer
Der `Chief Financial Officer` zählt zur ersten Führungsebene und entspricht Lichius (Dr. W. L., Mitglied der Geschäftsleitung der Kienbaum Executive Consultants) zufolge im Deutschen dem Finanzvorstand. `Er trägt nicht die gesamtunternehmerische Verantwortung`, erklärt der Berater, `bei ihm spielen fachliche Qualifikationen eine größere Rolle`. Der...

Chief Technology Officer
The CTO (Chief Technology Officer), another relatively new arrival to the top executive ranks in many companies, is likely to be seen as the second or third most important person in any technology company. The CTO is responsible for research and development and possibly for new product plans....

child care
Provision of purposeful experiences, public or private, aimed at guiding the physical, emotional, intellectual and social development of young children, birth through eight years. Child care is synonymous with day care, early education, early learning, early literacy, nursery school and preschool....

child-rearing benefits
Erziehungsgeld The German government, as part of its social benefits, shells out money to help parents care for their children. These payments include Erziehungsgeld, the issue before the Bundestag on Thursday, and Kindergeld. The first benefit, roughly translated as child-rearing benefits, was introduced in 1986 as an incentive for expectant mothe...

Children`s zone
Item on the ECB`s dedicated euro site http://www.euro.ecb.int...

Chinese cabbage
napa cabbage = nappa cabbage = celery cabbage = Chinese celery cabbage = Peking cabbage = Chinese cabbage = wong bok = petsai = shantung cabbage = hakusai = Chinese leaf (leaves) = michihli Notes: Like bok choy, napa cabbage is a common ingredient in Asian stir-fries. It can also be used as a milder and more delicate alternative to green cabbage in...

Chinese wall
`Chinese Walls` are the supposed communications barriers between members or departments of the same financial institution. They are supposed to ensure that price sensitive information is not leaked - say from a corporate finance department involved in a takeover to a dealer who would be in a position to buy shares in the companies involved. The Gre...

Chinese wall
`Invisible` barriers between departments in an organization. Combinations of access are limited so as to limit the combination of information available to an individual. Examples include the Chinese walls used in the financial industries to prevent traders from gaining access to both future planning information and share value information, need-to-...

Chinese wall
A policy barrier between the trust department and the rest of the bank designed to stop the flow of non-public information for the purpose of preventing use by the trust department of any material inside information, which may come into the possession of other bank departments, in making investment decisions....

Chinese wall
Usually a physical barrier as well as a set of policies and procedures designed to insure compliance with securities laws governing the separation of information available to an investment bank`s corporate finance division or a commercial bank`s lending division as distinct from information available to personnel dealing with customers on securitie...

Chinese yuan renminbi
China`s currency is the renminbi and its currency unit is the yuan....

chi-square distribution
The chi square distribution is a mathematical distribution that is used directly or indirectly in many tests of significance. The most common use of the chi square distribution is to test differences between proportions. Although this test is by no means the only test based on the chi square distribution, it has come to be known as the chi square t...

chi-square distribution
The square of a random variable having standard normal distribution is distributed as chi-square with 1 degree of freedom. The sum of squares of `n` independently distributed standard normal variables has a Chi-Square distribution with `n` degrees of freedom. The distribution is typically used to compare multiple-sample count data in contingency ta...

chooser option
Chooser options initially have an uncertain identity. At purchase, it is undetermined whether the option will end up as a call or a put. On some prespecified date before expiration, the buyer (or in other cases the seller) must choose the type....

churning
Churning refers to excessive buying and selling in your account by your broker. For churning to occur, your broker must exercise control over the investment decisions in your account, either through a formal written discretionary agreement or otherwise, and must engage in excessive trading in light of the financial resources and character of the ac...

churning flows
Churning flows are defined as the difference between worker flows and job flows. The churning flows are always nonnegative— that is, either they are zero or positive. When job flows equal worker flows, the churning flow is zero. Churning flows are positive when job flows are smaller than worker flows. Churning flows are usually the result of firm...

churning flows
replacing workers in the same jobs...

civil servant
Definition for UK:...The next category of public body is comprised of those which carry out central government functions. Employees of these departments are servants of the Crown and therefore civil servants....

civil servant
There is no standard definition of `civil servant` or `civil service`, since domestic laws and practice vary considerably. Most countries recognize the difference between the public sector and the private sector, but nuances appear at the next level. Some countries, for example, make a distinction between `civil service` and `public service`. In so...

civilian labor force
The civilian labor force comprises the total of all civilians classified as employed and unemployed....

civilian service
an alternative to compulsory military service in some countries, but not voluntary. EU-Fundstelle...

clad
Coins with a core of one alloy, covered with a layer or coating of another. US half dollars from 1965 to 1970, for example, had a core of 21% silver and 79% copper, bonded to outer layers of 80% silver and 20% copper. More recently, however, coins usually have a body in a more economic alloy, with only a thin cladding of a more expensive material, ...

class action suit
Refers to a lawsuit that involves an individual who represents a certain class of individuals....

classified loan
A loan designated as problem and questionable with respect to full repayment of principal and interest....

clean price
Clean price shall mean transaction price excluding any rebate/accrued interest, but inclusive of transaction costs which form part of the price....

clear title
clear title: A title that is free of liens and legal questions as to ownership of the property. A requirement for the sale of real estate. also called just title or good title or free and clear....

clearance
Clearance is the process of transmitting, reconciling, and in some cases, confirming payment orders or security transfer instructions prior to settlement, possibly including the netting of instructions and the establishment of final positions for settlement. In the context of securities markets, this process is often referred to as clearance....

clearance
the term `clearance` has two meanings in the securities markets. It may mean the process of calculating the mutual obligations of market participants, usually on a net basis, for the exchange of securities and money. It may also signify the process of transferring securities on the settlement date....

clearing
Clearing refers to processing a trade and establishing what the parties to the trade owe each other....

clearing
the process of transmitting, reconciling and, in some cases, confirming payment orders or security transfer instructions prior to settlement, possibly including the netting of instructions and the establishment of final positions for settlement. Sometimes the term is used (imprecisely) to include settlement....

clearing house
a central location or central processing mechanism through which financial institutions agree to exchange payment instructions or other financial obligations (e.g. securities). The institutions settle for items exchanged at a designated time based on the rules and procedures of the clearing house. In some cases, the clearing house may assume signif...

clearing house
A clearing house determines the obligations that result from debit and credit positions arising from the trading of financial assets and calculates the amounts which need to be settled, typically through securities settlement systems....

clearing member
a member of a clearing house. All trades must be settled through a clearing member. A direct clearing member is able to settle only in its own obligations. A general clearing member is able to settle its own obligations as well as those of clients. Variations of these two types of clearing member may also exist....

clearing member
Clearing member shall mean a member of the exchange or the clearing house which has a direct contractual relationship with the central counterparty (market guarantor); non-clearing members must have their trades routed through a clearing member. 93/6/EEC...

clearing system
a set of procedures whereby financial institutions present and exchange data and/or documents relating to funds or securities transfers to other financial institutions at a single location (clearing house). The procedures often also include a mechanism for the calculation of participants` bilateral and/or multilateral net positions with a view to f...

clearinghouse
An institution where mutual claims are settled between accounts of member depository insitutions. Clearinghouses among banks have traditionally been organized for check-clearing purposes, but more recently have cleared other types of settlements, including electronic fund transfers....

clearinghouse
The term `clearing house` is used throughout this paper to describe entities that: (a) facilitate netting of transactions in financial instruments by becoming party to those transactions through novation or an open offer mechanism; and (b) apply risk management techniques to those transactions (such as the taking of margin or collateral) to safegua...

clerical work
*Performs a variety of sorting, filing and copying duties.*Collects, stuffs and seals outgoing mail and opens and routes incoming mail.*Cleans, adjusts and makes minor repairs necessary to successful machine operations.*Keeps records and makes reports.*Distributes and/or collects forms and applications.*Operates and maintains high volume duplicatio...