Ubs dictionary of Banking
Eurobond See Eurobond issue. Eurobond issue / Euroanleihe / euro-obligation / eurobbligazione
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Eurobond See Eurobond issue. Eurobond issue / Euroanleihe / euro-obligation / eurobbligazione Also: Eurobond. Bond issued on the Euromarket in a currency other than that of the issuer's country of origin. Eurocapital market / Eurokapitalmarkt / euromarché des capitaux / euromercato dei capitali The segment of the Euromarket where instruments with medium- to long-term maturities (i.e. maturities of longer than 18 months), above all eurobonds, are issued and traded. Euroclear / Euroclear / Euroclear / Euroclear International securities clearing system formed by banks and securities dealers for the collective custody and book-entry transfer of securities (initially primarily Eurobonds). Eurocommercial paper /Euro-Commercial-Paper /europapier commercial / euro-commercial paper Abbr.: ECP or Euro-CP. Short-term money market paper issued by major first-class companies on the Euromarket without any underwriting commitment on the part of a bank or banking consortium. Very similar to the commercial paper issued in the United States. Euro-CP Abbr.: for Eurocommercial paper. Eurocredit / Eurokredit / eurocrédit / eurocredito International bank credit denominated in a Eurocurrency. Eurocurrency / Eurowährung / eurodevise / eurovaluta Currency employed for balances and liabilities on the Euromarket. Examples of eurocurrencies are: Eurodollar, euro, euro-GBP, euro-CHF. Eurodollar / Eurodollar / eurodollar / eurodollaro Eurodollars are dollar balances and dollar liabilities beyond the borders of the United States. These transactions collectively form the Eurodollar market. See also Euromarket. Euroland Synonym for Eurozone. Euromarket / Euromarkt / euromarché / euromercato International financial market consisting of several spezialized markets on which bank loans and bond and equity issues are transacted in Eurocurrencies such as Eurodollars, Euro-DEM and Euro-FRF. Despite its name, the Euromarket is by no means confined to Europe geographically; the most important trading currency is the US dollar. Since the introduction of the euro the term 'international financial market' is increasingly being used. See also Euromoney market, Eurocapital market. Euromoney market / Eurogeldmarkt / euromarché de l'argent / euromercato monetario The segment of the Euromarket which specializes in settling short- to medium-term deposits (with maturities not exceeding 18 months). Euronext / Euronext / Euronext / Euronext Euronext came into existence in September 2000 as a result of the merger of the spot and forward exchanges of the financial centres Amsterdam, Brussels and Paris. Since then it has grown further due to the addition of the Portugese spot and forward exchange BVLP and London's LIFFE. Website: www.euronext.com. Euronote / Euronote / euronote / euronota Medium-term notes issued on the Euromoney market. Euronote facility / Euronote-Facility / facilité d'euronote / euronote facility A financial innovation based on an agreement between one or more financial institutions and a borrower which allows the borrower to borrow funds up to an upper limit through the revolving placement of Euronotes on the Euromarket within a time frame of five to seven years. A key feature is the obligation of participating banks (underwriters) to purchase the Euronotes at the contractually agreed interest rate or to make alternative backup or standby facilities available if the borrower is not able to sell the Euronotes on the market. Euronotes only have a maturity of a few months and must therefore - depending on demand - be reissued by the borrower upon expiry (revolving underwriting facility or note issuance facility). European Central Bank / Europäische Zentralbank / Banque centrale européenne / Banca Centrale Europea Abbr.: ECB. Central bank of the European Monetary Union whose remit is to implement European monetary policy within the EMU. The headquarters of the European Central Bank are in Frankfurt; it is wholly independent and not subject to instructions from governments or the EU executive. The central banks of member countries, which also enjoy complete independence, remain in existence and along with the ECB constitute the European System of Central Banks (ESCB). Website: www.ecb.int. European Currency Unit / Europäische Währungseinheit / unité monétaire européenne / Unità monetaria europea Abbr.: ECU. Former currency unit equal to the sum of the values of the currencies of the previous 12 EU member states whose currencies made up the ECU currency basket: the value of an ECU was calculated as a weighted average of these currencies. The ECU was abandoned upon introduction of the euro on 1 January 1999. The euro replaced the ECU on the basis of 1 ECU = 1 euro. European Monetary Institute / Europäisches Währungsinstitut /Institut monétaire européen / Istituto monetario europeo Abbr.: EMI. Precursor of the European Central Bank responsible for coordinating monetary and economic policy in the EMU countries in preparation for the third phase of the introduction of the euro. European Monetary System / Europäisches Währungssystem / Système Monétaire Européen / Sistema Monetario Europeo Abbr.: EMS. The European Monetary System I (EMS I) was a system of fixed, but nonetheless flexible, exchange rates determining the exchange rates for the currencies of certain EU member countries. Since the European Monetary Union came into force a new system (EMS 2) has governed the fixing of exchange rates between the euro and the currencies of those EU countries not participating in the single currency. European Monetary Union / Europäische Währungsunion / Union économique et monétaire européenne / Unione monetaria europea Abbr.: EMU. Established under the Maastricht Treaty on European Union. In the broader sense an economic and monetary union. Participating countries are obligated to pursue a common economic policy and use a single currency (euro). Entered into force on 1 January 1999. European option / europäische Option / option européenne / opzione europea Option which can only be exercised on the last day of trading, i.e. on maturity. See also: American-style option. European System of Central Banks Abbr. ESCB. See European Central Bank. euroSIC / euroSIC / euroSIC / euroSIC Clearing system of Swiss Interbank Clearing for Swiss payment transactions in euros within Switzerland and beyond its borders. Eurozone / Eurozone / zone euro / Eurozona Also: euro area, Euroland. Currency area of the euro.  Top
Ev event-driven /Event-Driven / event driven / event driven Hedge fund strategy in accordance with which fund managers attempt to profit from extraordinary events triggered by special exceptional situations such as company mergers, insolvencies or restructuring. Top
Ex ex dividend / ex Dividende / ex dividende / ex dividendo A share is quoted ex dividend when the amount of the dividend has been deducted from the price. When a stock is dealt ex dividend, the buyer has no right to the last dividend, only to the next one. ex right / ex Anrecht / ex droit / ex diritto d'opzione Designation of a share which once trading begins in its subscription rights is traded without them. The rights are traded separately for a stipulated period on the stock exchange where they have been listed. excess return / Überschussrendite / excédent de rendement / rendimento eccedente Return above the money market rate. exchange / Börse / Bourse / borsa Financial market that operates regularly and is organized in accordance with fixed customs and practices, e.g. security, forex, option and commodity exchanges. The key exchanges include the New York Stock Exchange, the Nasdaq and the London and Tokyo stock exchanges. See also SWX Swiss Exchange. exchange of data carriers / Datenträgeraustausch / échange de supports de données / scambio dei supporti di dati Processing of payment transactions via data carriers or file transfer. exchange office; bureau de change / Wechselstube / bureau de change / ufficio cambi Also: bureau de change. Banking department/teller area that handles currency exchange and related business (such as coin dealing, traveller's cheques and letters of credit). exchange rate / Devisenkurs / cours des devises / corso delle divise The rate at which one currency is exchanged for another. The average of the bid and asked prices is taken as the mean rate. exchange rate mechanism / Wechselkursmechanismus / mécanisme de change / meccanismo di cambio The European Monetary System (EMS) was replaced following the decision taken by the European Council on 16 June 1997 to set up an Exchange Rate Mechanism (ERM II) in the third stage of the Economic and Monetary Union. The aim of this Exchange Rate Mechanism is to ensure stability and solidarity in terms of exchange rates between those countries that have introduced the euro as their currency and those that have not. Primary objective: to prevent excessively large exchange-rate fluctuations between the EUR and the currencies of non-participating nations. exchange rate parity / Währungsparität / parité de change / parità monetaria The officially fixed ratio of the value of one currency against another, i.e. the equivalence between the market or declared values of two different currencies. Dollar parity, for example, is the ratio of a currency against the US dollar. See also gold parity. exchange-traded fund /Exchange-Traded-Fund / Exchange Traded Fund / exchange traded fund Abbr.: ETF. Index fund whose composition is tied to the weighting of an index and can be traded at any time without issuing commission. See also basket product. ex-date / Ex-Tag / jour ex droit / giorno ex The first day after a stock dividend has become due, i.e. the day after the relevant stock is traded without the dividend. exercise / Ausübung / exercice / esercizio The action taken by the holder of an option contract to exercise his right to buy or sell one or more underlyings at the terms specified in the option contract. exercise price Price at which an option buyer can buy (call) or sell (put) the underlying securities, currencies, etc. exotic fund Synonym for offshore fund. expiry / Verfall / expiration / scadenza Also: maturity. Date on which a debt (e.g. a bond) falls due or an option expires. Borrowers who fail to meet their obligations by the expiry date are said to be in default. See also default interest. export credit / Exportkredit / crédit à l'exportation / credito all'esportazione Medium- to long-term credit granted for the purpose of financing export shipments. There are two main forms of export credits: supplier credit (trade credit), i.e. credit granted by the supplier to the buyers, and customer or buyer's credit granted directly to the foreign buyer or his bank. Large credits of this kind are generally furnished by a syndicate of banks (in Switzerland syndicated credit). An export credit granted jointly by a commercial bank and the government is referred to as a mixed loan or credit. This type of loan is commonly granted to developing economies. export credit insurance / Exportkreditversicherung / assurance crédit à l'exportation / assicurazione del credito all'esportazione Usually government-sponsored (but autonomously financed) schemes offering protection against the specific risks associated with the granting of export credits. In Switzerland known as export risk guarantee. export documentary credit Synonym for documentary credit. export finance / Exportfinanzierung / financement des exportations / finanziamento delle esportazioni Providing exporters with the required capital for the shipment abroad of merchandise, or for the rendering of services such as construction, engineering and development operations in a different country. Export finance generally takes the form of bank credits granted to the supplier or credit given to the foreign purchaser of the goods. The documentary credit plays an important role in short-term export finance. Medium- to long-term export credits furnished by the banks are the most usual form of export financing in Switzerland today. Special types of export finance are factoring, non-recourse financing and offset transactions. In Switzerland, export finance is frequently provided in combination with an export risk guarantee from the Federal Government. export finance credit / Export-Finanzkredit / crédit financier à l'exportation / credito finanziario all'esportazione One of the instruments in export finance. In Switzerland, export finance credits are granted by Swiss banks to finance export shipments not covered by the official export risk guarantee program, to finance downpayments, intermediate payments and local costs related to the installation of plant or equipment delivered by the Swiss producer. export risk guarantee / Exportrisikogarantie / garantie contre les risques à l'exportation / garanzia contro i rischi delle esportazioni Guarantee safeguarding claims arising from export operations. The Swiss Federal Government's export risk guarantee scheme has been in place since 1934 (ERG). The guarantee cover includes not only the actual merchandise exports but also certain other business services rendered by the exporter, such as the leasing of goods, construction, engineering and development work, licensing and scientific, technical and economic consulting. exposure / Engagement / engagement / impegno (1) Securities trade: obligation arising from new purchases of securities. Also a designation for the entire securities portfolio of an investor or group of buyers. (2) Lending business: the credit liability which a bank has assumed in regard to a customer or borrowing country. (3) When an investor exposes assets to the influence of uncertain variable (risk factors), the assets are exposed to these factors. external balance / Aussenbilanz Synonym for balance of payments. Balance of cross-border flow of goods, services and capital transfers. external payments balance Synonym for external balance. external value / Aussenwert / valeur extérieure / valore esterno Purchasing power of a domestic currency unit abroad. The external value is generally taken as the reciprocal value of the exchange rate. extra dividend / Bonus / bonus / dividendo straordinario Also: bonus. Special dividend distribution on shares and participation certificates made by a company in addition to its regular dividend, e.g. as a jubilee bonus.
Fa facility / Fazilität / facilités / facilitazione di credito Synonym for credit line. factoring / Factoring / affacturage / factoring A form of financing which enables companies to generate liquidity. Factoring involves the sale of short-term trade receivables (usually of 30 days) to a factoring company (factor). The purchase price represents a certain percentage of the face value of the receivables. The remaining balance is returned to the client after deduction of a service charge once the debt is collected. The purchase price paid by the factor is credited to the client after deduction of the factoring fee and the financing charges (depending on the amount of credit drawn). fair value / Fair Value / juste valeur / fair value (1) The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction. (2) The estimated value of all assets and liabilities of an acquired company used to consolidate the financial statements of both companies. (3) In the futures market, fair value is the equilibrium price for a futures contract. This is equal to the spot price after taking into account compounded interest (and dividends lost because the investor owns the futures contract rather than the physical stocks) over a certain period of time. falling market Synonym for bear market. falsification Synonym for forgery. family company / Familienunternehmen / entreprise familiale / società a carattere familiare Company which is wholly or predominantly owned by one family. If the family company is a limited company, it is known as a family limited company. In contrast to this, ownership of a public limited company or other limited company is more broadly based. Fannie Mae / Fannie Mae / Fannie Mae / Fannie Mae Short name for the Federal Mortgage Association, a mortgage institution whose main business is in the securitization of existing loans for the purchase of real estate. According to the US Treasury it is the largest US borrower and acts as a mortgage financing agency. See also Freddie Mac. FAS Abbr. for free alongside ship. Top
Fb FBC / EBK / CFB / CFB Abbr. for Federal Banking Commission. Top
Fe FED Abbr. for Federal Reserve System. Federal Banking Commission / Eidgenössische Bankenkommission / Commission fédérale des banques / Commissione federale delle banche Abbr.: FBC. Also: SFBC. Short form: banking commission. Independent supervisory and regulatory body responsible for overseeing banks and investment funds. Directory: forums -> uploaded forums -> Bbt”: Broadband Tool “bsw” forums -> Cv personal details: Name: Yehonatan Devorkin id number forums -> Patrick De Smedt Chairman, Microsoft Europe, Middle East and Africa forums -> App Dragon Listing Page of 1Tap Cleaner Free 54) uploaded -> A. crs. Availability; will display flights with seats available. An arunk (qv) or surface segment of a trip. American plan (qv). Code for a class of service, usually superior a la carte uploaded -> First conditional If+Present Simple, Present Continuos uploaded -> Maassen, Friedrich Bernard Christian Professor of law (1823-1900) Download 2.04 Mb. Share with your friends:
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