Ubs dictionary of Banking
revocable stock exchange order / widerrufgültiger Börsenauftrag / ordre de Bourse valable jusqu'à révocation / ordine di borsa revocabile
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revocable stock exchange order / widerrufgültiger Börsenauftrag / ordre de Bourse valable jusqu'à révocation / ordine di borsa revocabile Unconditional, limited order which is considered valid until revoked, i.e. until the end of the current month or, if given at month's end, until the close of the following month. The principal can extend or revoke the order at any time. revolving credit / revolvierender Kredit / crédit revolving / credito revolving A credit line which can be utilized, repaid and utilized again during the agreed term. Examples: revolving discount credit, revolving collateral loan. revolving letter of credit / revolvierendes Akkreditiv / crédit documentaire renouvelable / credito documentario rotativo See documentary credit, revolving credit. revolving underwriting facility / Revolving-Underwriting-Facility / facilité de prise ferme renouvelable / revolving underwriting facility Abbr. RUF. Short to medium-term security traded on the Eurocommercial paper market. The lead manager acts as the sole placing agent. Renewable after expiry as required. Similar to note issuance facility.  Top
Rh Rho / Rho / rhô / rho A measure of an option's sensitivity to changes in interest rates (or changes in dividend payments), i.e. the extent to which the option's value changes as a result of a shift in interest rates on risk-free investment instruments. Top
Ri right of lien / Pfandrecht / droit de gage / diritto di pegno Also: lien in rem. Restricted right to hold and retain property until a claim is satisfied. If the claim is not met, the creditor is entitled to realize the property securing the lien and to satisfy his claim out of the resulting proceeds. right of preemption / Vorkaufsrecht / droit de préemption / diritto di prelazione The right to purchase either in preference to others or before an offer is made to others. right of redemption / Rückgaberecht / droit de retour / diritto di restituzione Units of investment funds may be sold back to the fund management company on a daily basis at their current redemption price. Exception: real estate funds. right to move mortgage to higher order of priority / Nachrückungsrecht / droit d'avancement à un rang antérieur / diritto di subentrare in un grado anteriore Right of the creditor next in order of priority to move up to the vacant place in the land register. right to take delivery / Andienungsrecht / droit à la livraison / diritto alla consegna Right of a third party to purchase a specific asset at a particular point in time in the future. The right to take delivery is the buyer's security that the seller will be able to deliver the goods promised at any time throughout the term to maturity of an option. ring / Ring / corbeille / corbeille Circular counter around which ring representatives used to buy and sell contracts by calling out bid and asked quotations. A distinction was drawn between the stock trading ring and the bond trading ring depending on the type of securities traded. See also open outcry trading, electronic trading system. ring bank / Ringbank / banque admise à la corbeille / banca ammessa alla corbeille Obsolete. A bank licensed to trade securities on a ring. See also stock exchange bank. ring representative Synonym for ring trader. ring trader / Ringhändler / crieur / operatore alla corbeille Also known as the ring representative. Formerly the broker of a ring bank who traded securities on a stock exchange using the à la criée method. See also ring, broker. risk / Risiko / risque / rischio Exposure to damage or financial loss, e.g. a fall in the price of a security, or insolvency on the part of a creditor. Financial market theory measures the risk exposure of an investment in terms of the degree of variance. Risk and return are in direct mutual correlation: the higher the risk exposure, the more substantial the long-term return on an investment should be. The main risk categories are: country risk, transfer risk, settlement risk, price risk, interest-rate risk and credit risk. Risks are hedged with provisions. Hedging products available from banks include forward and repurchase transactions, options and financial futures. See also systematic risk. risk appetite; willingness to accept risk / Risikobereitschaft; Risikoneigung; Risikofreude / goût pour le risque; propension au risque; tolérance au risque / capacità di rischio; propensione al rischio Synonym for risk tolerance. risk arbitrage / Risk Arbitrage / arbitrage du risque / arbitraggio di rischio Strategy of taking opposite positions in the shares of a takeover candidate and its likely buyer. Highly speculative investment technique. risk aversion / Risikoscheue / aversion au risque / avversione al rischio See risk tolerance. risk concentration / Klumpenrisiko / gros risque / grande rischio Also: concentration of risk. Loans, equity interests or investments whose size exceeds acceptable limits, thereby contravening the bank's policy of risk diversification. risk diversification / Risikoverteilung / répartition des risques / ripartizione dei rischi Also referred to as risk spread, risk spreading. Diversifying capital investments or loans granted to third parties so as to achieve the greatest possible protection against risks of losses or reductions in income. The aim is to ensure an optimally balanced risk exposure via the broad diversification of investments (or loans) in terms of the geographical mix, currencies, sectors and individual companies. See also diversification. risk management / Risiko-Management / gestion des risques / gestione dei rischi (1) Management tool designed to broadly and systematically identify, quantify and manage banking-related risk exposure. (2) Service package provided by banks to commercial clients to help them limit risk exposure through the use of hedging instruments. risk paper See share. risk premium / Risikoprämie / prime de risque / premio di rischio Premium demanded by investors for investing in risky capital investments. The higher the risk of loss or default, the higher the premium. risk spreading Synonym for risk diversification. risk tolerance / Risikoneigung / propension au risque / propensione al rischio Also: risk appetite, willingness to accept risk. A person's individual attitude towards risk. They may, for example, be willing to accept risks or they can be risk-averse. risk-free return / risikofreier Ertrag / revenu sans risques / rendimento a rischio zero Return on an investment in first-class money market paper, which due to its short term to maturity is subject to virtually no price fluctuations and is therefore regarded as being risk-free, e.g. Treasury bills. risk-return profile / Ertrags-Risiko-Profil / profil rentabilité/risque / profilo di rischio/rendimento Also: risk-earnings profile, risk/reward ratio. Comparison of the anticipated risk of an investment with the expected return. If the return is the greater of the two then the investment is made. Top
Rm RMBS Abbr. for Residential Mortgage-Backed Security. Ro ROA Abbreviation for Return on Assets. ROE Abbr. for return on equity. Roh-, Hilfs- und Betriebsstoffe / Materials / Matériels / Materiali Sektorbezeichnung für Aktien von Unternehmen, die Chemikalien, Metalle (einschliesslich Bergbau), Baustoffe, Textilien oder Papier und Pappe herstellen. Der entsprechende MSCI-Sektorindex fungiert als Benchmark für die Aktien dieses Sektors. roll-over credit / Roll-over-Kredit / crédit roll-over / credito roll-over Medium- to long-term credit with a floating interest rate which is usually reset every 3, 6 or 12 months. The basis for the periodic interest rate adjustment is, for instance, the London Interbank Offered Rate (LIBOR) for short-term borrowing on the Euromarket. round lot / Schlusseinheit / unité de cotation / lotto minimo Standard unit of securities trading. See also odd lot. royalty / Royalty / royalty / royalty (1) Synonym for licence fee. (2) Remuneration for the assignment of land with exploitable raw materials (coal, oil, etc.) paid by the licensee to the owner of the land. Top
Ru RUF Abbr. for revolving underwriting facility.
S.E. & O. Latin «salve errore et omissione» (errors and omissions excepted). Request addressed to the customer to examine the bank statement carefully, with the bank reserving the right to correct omissions and errors at a subsequent date. Sa safe / Tresorfach; Schliessfach; Schrankfach; Kundensafe; Safe / compartiment de coffre-fort; coffre-fort / cassetta di sicurezza; safe Synonym for safe deposit box. safe deposit box / Tresorfach; Schliessfach; Schrankfach; Kundensafe; Safe / compartiment de coffre-fort; coffre-fort / cassetta di sicurezza; safe Also: safe. Lockable deposit box which is located in the vault of a bank and can be leased out to customers. See also vault, night safe. safeguarding interests / interessenwahrend / au mieux des intérêts / curando Rider used in securities trading for large market orders. The notation authorizes the broker (depending on stock market price developments) to temporarily refrain from buying or selling if the immediate and complete execution of the order would adversely affect the price of the securities to the disadvantage of the customer. See also market order. safekeeping account / Depot; Wertschriftendepot / dépôt; dépôt titres / deposito; deposito titoli (1) Also: custody account. Total of all securities and valuables deposited with a bank. See also sealed safekeeping account, open safekeeping account, numbered safekeeping account. (2) Also: securities safekeeping account. Custody account for the safekeeping and administration of securities. safekeeping account bookkeeping / Depotbuchhaltung / comptabilité titres / contabilità titoli Keeping a record of all securities deposited with a bank by safekeeping account number and within the safekeeping accounts by securities number. safekeeping account charges / Depotgebühr / droit de garde / diritti di custodia Synonym for custody charges. salary account / Gehaltskonto; Salärkonto / compte salaire / conto salario Current account for persons regularly receiving a wage/salary or retirement benefit. Salary accounts carry higher interest rates than regular current accounts. samurai bond / Samurai-Bond / obligation «samurai» / samurai bond Yen-denominated bond issued by non-Japanese borrowers on the primary market in Japan and which are almost exclusively traded over-the-counter on the international secondary market. Sarbanes-Oxley Act / Sarbanes-Oxley-Act / loi Sarbanes-Oxley / Sarbanes-Oxley Act US legislation that contains a number of measures aimed at improving corporate governance. The aim of the law is to strengthen investor confidence in the integrity of the financial data published by companies subject to US legal requirements. savings account / Sparkonto / compte d'épargne / conto di risparmio Savings deposits managed in the form of a bank account offering special legally defined protection (preferred claim under bankruptcy). Reflecting the savings nature of the account, withdrawal options are more restricted than with a personal account but the interest is usually higher. savings account for vested pension benefits / Freizügigkeitssparkonto; Freizügigkeitskonto / compte de libre passage / conto di libero passaggio Preferential rate savings account for occupational pension assets. Principal and interest are tax-free until paid out; interest is exempt from withholding tax. Benefits paid out are subject to a reduced tax rate. Principal may be used to purchase residential property for the beneficiary's own use or to amortize mortgages. savings bank / Sparkasse / caisse d'épargne / cassa di risparmio Depository financial institution that mainly accepts interest-bearing savings deposits of varying amounts. savings bond / Savings Bond / savings bond / savings bond Government-issued bond common in the USA. There is no secondary market for savings bonds, but they do offer tax benefits. savings book / Sparbuch; Sparheft / livret d'épargne; carnet d'épargne / libretto di risparmio Savings account maintained in book form. Although once widely used, it has now largely been replaced by the savings account. Top
Sc schedule of creditors / Kollokationsplan / état de collocation / graduatoria Schedule of creditor ranking, prepared by the bankruptcy trustee or the debt collection office. scrip / Scrip / scrip / scrip Expression commonly used in the USA for a provisional receipt for partial payment made by shareholders on shares which have not been fully paid in. scrip certificate / Lieferschein / bulletin de livraison / bollettino di consegna Written obligation on the part of the bank acting as paying agent to hand over the definitive certificates to the subscriber as soon as they have been issued. Top
Sd SDR / SZR / DTS / DSP Abbr. for special drawing right. Top
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