1. 2009 , . , . . , , . , . , . 2004 2.500 , 55% 2009. , . . 1949 , . . , 4 , 9 () 14 (SCECBU) . , , , , . 1976, . 2000 , (Dealing Room, Front Office), (Back Office) (Middle Office) . Project Manager , , . . , , .

2. AAccession and Acceding country = . (accession country) ( , Copenhagen criteria) . (acceding country) . .Accountability = . . , . .Accounting posting = .Accounting principles = . . : Accruals principle = . , . Cash flow accounting and Realisation principles:1) cash flow accounting .2) , realisation rule . Consistency and comparability principles = . . , . , . . Dual aspect principle = . K (double entry book keeping). , . , ( ) 3. () (). Economic reality and transparency principles = . , o , . . Entity principle = . , . . Going concern basis = . . Historic Cost Accounting, HCA = . . . Materiality principle = . . , , , . Money measurement principle = . . , . . Objectivity principle = . . , , . . Recognition of postbalance sheet events principle = . . :1) , 2) , , . Periodicity principle = . , . , . Prudence or conservatism principle = . 4. . , , (if in doubt, overstate lossesand understate profits). , (unrealised gains) (unrealisedlosses) . . , . Relevance principle = . . . Quantitative principle = . . , :1) Economic reality and transparency 2) Prudence 3) Recognition of postbalance sheetevents 4) Materiality 5) Accruals 6) Going concern 7) Consistency and comparability.Accounting Regulators Committee (ARC) = . . .Account Officer = . , , , . account officer marketing . customers account officer . :1) 2) ., , . , , . . account officer .Accounts Payable = . . (current liabilities) . , . 5. Accounts Receivable = . . (currentassets) . , .Accrual bond = .Accrued interest = . . , (plus accrued interests) . , , 40 , 10 (6 : 1,5 = 4 40 : 4 = 10 ).Acquis communautaire = . (.). ( Copenhagen Criteria) .. . ( ) ( , ).Acquisition = . . .Action taken by the E.U institutions = , (.) :) Regulations = . , .) Directives = . , , .) Decisions = . A .) Recommendations and Opinions = . .. O. (OJEC,JOCE).Active and passive portfolio management = . (ctive portfolio management) (benchmark portfolio) . benchmark . 25% . 6. (passive portfolio management) ) ) (yield to maturity) . .ActiveMQ = (ApacheSoftware Foundation). (Java Message Service 1.1, JMS). (Enterprise Features) . (clustering), , (cache). Java ActiveMQ .NET[2], C/C++[3] Delphi Perl, Python, PHP Ruby (Cross Language Clients) OpenWire.Addendum = , . , . . , .Add-on = . (hardware) (software) / . , (add-on) , , , (modems), , .Adjustable Rate Mortgage, ARM = . . prime rate (. LIBOR) . (ceiling). , o AR .Administered, fixed and floating interest rates = , . Administered interest rates = . . Fixed interest rates = . . Floating interest rates = . + 1% Euribor + 0,70% MRO (). Euribor . .Administered price = .DSL (Asymmetric Digital Subscriber Line) = DSL. 7. Ad Valorem = . , , , (%) .Adverse selection = . . , , . , . premium , . insider trading . , . . . , .Affidavit = . . Affidavit of loss . .Affinity Card = . , , , . , , .African Development Bank Group = (AfDB).I 1964 AfDB . . 77 : 53 (Regional MemberCountries, RMC): - - - )24 , (Non- RegionalMember Countries) 8. A . :1) African Development Bank, (AfDB). ( ). 1964 1966. 53 24 , . : . 33 . . , , , , , . ) ) 18 12 6 . 904.2) The African Development Fund, ADF ( ). 1972 1974 24 . . , . 0,75% 0,50% .3) The Nigeria Trust Fund, NTF ( ). 1976 432 . . 4%, 25 . .Agencies = . 10 .Agency bonds = . Fannie Mae, Freddie Mac, Sallie Mae Federal Home Loan Banks.Agency = 20.000.000 .Agency pass-throughs = Government National Mortgage Association (Ginnie May), Federal Home Loan Mortgage Corporation (Freddie Mac) Federal National MortgageAssociation (Fannie May) ( ). 9. Agent = , .Aggregate Demand, AD = . : ,, . , : (consumer spending, C), (investment, I), (government spending, G) (expenditure on export, X) (expenditure on imports of goodsand services, M). , (AD) AD = C + I + G+X M. (aggregate demand curve) .Aggregates = .. , , .ALAP, as late as possible = . . (IT projects) (regression test) (unit tests).Algorithm = . . / . . / . (converter) . . , (paymentqueue) , .alias = . . , . , "" . alias mail . alias / .Allotment = . , (pro rata) .Alpha = . , (beta, ) . . 10. , . . : [ ( y ) ( (b) ( ) ) ] / n, n = (36 ), = beta , = , y= . , 25% 5%, 25-5=20%. , 9%. beta 2 ( Standard and Poors). 2 9% = 18%. 20%. 2% 200 . (weighted Alpha) , . . . .Alternative assets = . (private equity), (venture capital), (hedge funds) (real estate). .American Depositary Receipt, ADR = , Securities and ExchangeCommission, SEC ( ). . .American Express Cards = American Express. (charge card) 1958. , American Express 1.000.000 85.000 . 1986 . , American Express , ,, , .Amortisation = 1) . . , ( 103) (par value 100), (premium) . (negative amortisation) 2) . ., . (straight-line amortisation) ( ) .Analog and digital lines = . (analog line) . . 11. (digital line) . : , 1 ) 0.Anchor / Pegging currency = - . - .. 1998, .. ., .Ancillary system = . . (clearing houses), (retail paymentsystems), (FX systems), (money market systems) (securitiessettlement systems) . TARGET2 .Annualize = . , 2006 50.000 200.000 (50.000 4 ) 0,5%, 6% (0,5% 12 ).Annual Percentage Rate, APR = . . , , , .Annuity = , . , , .Anti-Virus = / . .APEC (Asia-Pacific Economic Cooperation) = - . 1989 1993 . 2010 2020 . : ) ) ) . 2004, APEC 21 : ,, , , , , , , , ,, , , , , , , (), , .API - Application Programming Interface = . / . . APIs 12. (libraries) . , APIs socket ( ). Berkeley sockets Windows Sockets (Winsock)APIs . , APIs Java servlets Web APIs XML-RPC ( ) .Application Service Provider, ASP = . ASP , , . Internet.Appraisal = .A priori and a posteriori = . A priori . posteriori .Arbitrage = . . .. / / . , , / . , (. ) 10 12 , . . . , (triangular arbitrage).Arbitrage bond = . .Arithmetic mean = mean (). .Arms length principle = . . , , . . , , ) 13. ) . .rtificial intelligence = . / . 1956 (MIT). , , , , , , , , , / .ASAP, as soon as possible = . . (IT projects) (Project Definition Document,PDD) (Scope Document, SD).ASCII, American Standard Code for Information Interchange = . . 7 128 , . , . ASCII ( 32 126) . ASCII 1963 (ASA), ANSI. , ANSI X3.4-1986, ECMA-6, ISO/IEC 646:1991 International Reference Version, ITU-TRecommendation T.50 (09/92), Request for Comments RFC 20. Unicode ( ASCII), 128 .Asian Development Bank (ADB) = . 1966 2.000 50 . , , . , , , , , . 50% 50% . , 49 . O : 1) , 2) , .O . ADB 32 . 2006 64 :) 46 :, , , , , , , , , , -, , , , , , ., , , , , , , , (), , , , , ,, , , , , , ), 14. , , , , , , , - .) 18 -:, , , , , , , , , ,, , , , , , .) ,, , , , , , .) , 16 , 3 4 . - . , , , , , , , , , , , , , , . , D.C. ADB . , , -.Asset allocation = . (. , , , , , , , ), , . . .Asset allocation optimisation = . . , , , .Asset and liability management = (OBS) . : ) ) ) .Asset-Backed Securities, ABS = , , , , , , ,, . ., , (cash flows) (pool ofmortgages). , ABS Pass Through Securities (). ABS (shortduration) , 15. . , , ABS . , ( 90% ) . : , , . ABS (sub-prime mortgage market) .sset-acked Commercial Paper, ABCP = . 90 180 . , , . (commercialpaper) , ABCP . . , . (ABCP program) , , . , . ABCP programs . , , : ) ) ABCPs ) ABCP program ABCP. (sub-prime mortgage market) - 2007, ABCPs .Asset classes = . : 1) (cash and equivalents). 2) (fixed income). o 3) (stocks). . , .Assets = . , , , , , , . :) Fixed assets = . . :) tangible fixed assets: . 16. , , , , , .) intangible fixed assets: , , .) Current assets = , , , . .) on-current assets = .) perating assets: . , .) on- operating assets: .Association of Southeast Asian Nations, ASEAN = . 8.8.1967 : , , , , , ,, , . , . 24.2.1976 : ) , , , ) ) ) ) ) . 1997 ASEAN 2020 . ASEAN 100 . , ,, , , , .Asymmetric information = . , , . . . , . . (market makers) , . market makers .Asymmetric shocks = . . : 17. , . , ( 1985, 1995, 2003 2007) . 50% , , . . . . , , . , , , . 2008 2009 . , , , , .Asynchronous Transfer Mode = , . . . .At best or at the best = . . : ) ) dealer . .At par = , . (allapari = ). . at par (100) (discount) . 90 10 105 5 . 18. At the money = (option) at the money (exercise strike price) (underlying instrument). , (break-even-point) . At the money Spot option (spot price) . At the money forward option (forward price) .Audit trail = . , , .Automatic and discretionary stabilisers = .: Automatic economic stabilisers = . . . , . Automatic fiscal stabilisers = . . . 2008 : . , . . , . , .O Martin Weitzman (profit sharing). , .Discretionary stabilisers = . , , , .Automatic Securities Lending Programmes, ASLP = Securities Lending.Automatic Teller Machine, ATM = . i - , , PIN, 19. . , , , , , , . , , 10.000 50.000 . , 2008, 7.000 ATMs , 2.400 67% .Autonomous liquidity factors = . , . , , .Autoregressive = . .Average cost = . . .Averaging provision = (minimum reserves) (maintenance period) . , . averaging provision ( inimum reserves (reserve requirements) of theEurosystem). 20. BBaby bond = 1.000 .Baby boom generation and Y generation = . Baby boom generation 1943 1960 1946 1964. . , 1968 , , , --, . . FED baby boomers . 18.1.2007 FED 78.000.000 2008 . Y generation 1977 1994 , , 11 , . 2015, .BACH (Bank for the Accounts of Companies Harmonised) = . 9 : , , ,, , , , . . O .Backbone = . . (servers) / . backbone .Backbone network = . . (servers), (routers), hubs ( ) (bridges). backbone network . , .Backlog = .Back testing = , 21. . , . , , (hedging). .Back-to-back loan = . . .Backwardation = . (spotprices) (forward prices). (normal backwardation) (futures) hedgers, futures, short . hedgers long . backwardation future future future . , , 2 (spotrate) (forward rate). contango ( ).Bad credit = . (credit rating). , .Bailing out = 1) . . 2) . . 103 , . .Balanced fund = . . . , , , .Balance of payments = . , (, , , ). , , , . , , : 1) , , 2) 22. / 3) , 4) 5) 6) . , : BALANCE OF PAYMENTS OF GREECE) / (1+2+3+4) ) CURRENT ACCOUNT (1+2+3+4)1) 1) GOODS OIL balance TRADE BALANCE excluding oil Ships Balance TRADE BALANCE excluding oil and ships Exports Oil ()Ships (receipts) Other goods Imports Oil ()Ships (payments) Other goods2) 2) SERVICESReceipts Travel Transportation Other servicesPayments Travel Transportation Other services3) 3) INCOMEReceipts,Compensation of employees, , Investment incomePayments, Compensation of employees, , Investment income4) 4) CURRENT TRANSFERSReceiptsGeneral Government (mainly transfers ( )from E.U) ( , ) Other sectorsPaymentsGeneral Government (mainly payments to ( )E.U) Other sectors 23. ) N) CAPITAL TRANSFERSReceipts ( ) General Government (mainly transfersfrom E.U) Other sectorsPaymentsGeneral Government (mainly payments to ( )E.U) Other sectors CURRENT ACCOUNT AND CAPITAL ( + )TRANSFERS ( + )) AC) FINANCIAL ACCOUNTA DIRECT INVESTMENT Abroad Home PORTFOLIO INVESTMENT Assets Liabilities OTHER INVESTMENT Assets Liabilities ( ) (Loans of General Government)) D) CHANGE IN RESERVE ASSETS) ) BALANCING ITEM) F) RESERVE ASSETS (STOCK)( ) , , . . SUMMARY BALANCE OF PAYMENTS OF THE EURO AREA / CURRENT ACCOUNT (1+2+3+4) (1+2+3+4) 1) 1) Goods 2) 2) Services 3) 3) Income 4) 4) Current transfers CAPITAL ACCOUNT A FINANCIAL ACCOUNT (a+b+c+d+e) 24. A (++++)) a) Direct investment Equity capital and reinvested earnings Other capital (mostly inter-company loans) ( ) ) b) Portfolio investment Equity Debts instruments Bonds and notes Money market instruments : MEMO ITEM: COMBINED DIRECT AND PORTFOLIO INVESTMENT ) c) Financial derivatives ) d) Other investments Eurosystem General government : of which: currency and deposits ( )MFIs (excluding the Eurosystem) long term short term Other sectors : of which: currency and deposits ) e) Reserve assets Monetary gold SDRs Reserve position in the IMF Foreign exchange Other claims Errors and omissionsBalance sheet = . (assets) (liabilities) . . , , . , ( profit and loss account) , . . (BANK ANNUAL BALANCE SHEET PATTERN)ASSETSTAMEIO KAI CASH AND BALANCES WITH CENTRAL BANKS) a) Cash) b) Cheques receivable) c) Deposits with central banks TREASURY BILLS AND OTHER SECURITIES ELIGIBLE FOR REFINANCING WITH THE CENTRAL BANK) a) Issued by the State) b) Other LOANS AND ADVANCES TO CREDIT INSTITUTIONS) a) Repayable on demand) b) With agreed maturity 25. ) A c) Reverse repos LOANS AND ADVANCES TO CUSTOMERS- - Loans) a) Maturing within one year) b) Maturing after one year- - Other receivables Less allowances for credit lossesSECURITIES- - Debt securities including fixed-income securities) a) Issued by the State) b) Other- - Shares and other variable-yield securities INVESTMENTS) a) Investments in non-affiliates) b) Investments in affiliates INTANGIBLES ASSETS) a) Formation and preliminary expenses Less amortisation) b) Other intangible assets Less amortisation TANGIBLES ASSETS) a) Land) b) Buildings - Buildings installation Less depreciation) c) Furniture and fixtures Less depreciation) d) EDP equipment Less depreciation) e) Other tangible assets Less depreciation) f) Fixed assets under construction and advances OTHER ASSETS PREPAYMENTS AND ACCRUED INCOME) a) Prepaid expenses) b) Accrued interest- - State bonds- - Other bonds- - Loans and advances- - Other TOTAL ASSETS LIABILITIES DUE TO CREDIT INSTITUTIONS) a) Repayable on demand) b) Time deposits) c) Repos DUE TO CUSTOMERS) a) Deposits- - Repayable on demand-- Saving deposits- - Time deposits) b) Other liabilities- - Cheques and orders payable- - Repos DEBT SECURITIES ISSUED OTHER LIABILITIES 26. ) a) Dividends payable) b) Income tax and other taxes payable ) c) Withholdings in favour of social security funds and other third parties) d) Other ACCRUED EXPENSES AND DEFERRED INCOME) a) Deferred income) b) Accrued interest on time deposits) c) Other accrued expenses of the year PROVISIONS FOR LIABILITIES AND CHARGES) a) Provision for staff retirement indemnities ) b) Other SUBORDINATED DEBT CAPITAL AND RESERVES Share capital- - Paid-up capital Share premium accountReserves) a) Legal reserve)b) Extraordinary reserve) c) Tax-free reserves under special laws) d) Reserves from the revaluation of securities Land and building revaluation surplus Earnings transferable to the new year- - Retained earnings Treasury shares Goodwill to be netted off TOTAL LIABILITIES OFF BALANCE SHET ACCOUNTS Contingent liabilities- - From guarantees in favour of third parties Repos Other off Balance Sheet accounts) a) Beneficiaries of asset items) b) Bilateral agreements) (, c) Sundry off balance sheet accounts , ) (guarantees, securities etc)) d) Mutual funds holders TOTAL OFF BALANCE SHEET ACCOUNTSBalloon loan = . (the balloon payment) . , , . , . , .Bancassurance = . . O , :) 27. ) 1) (credit insurance)2) (overdraft insurance) 3) . , , (endowment mortgage or investment mortgage)) . bancassurance , , . . 30% 40% . : 1) , 2) 3) , 4) , 5) .Bandwidth = . , , . , . , . herz , bits . To bandwidth internet, (downloading) .Bank draft = . . (negotiable means of cashless payment).Bankers acceptance, BA = . . , 90 180 , . . , (at par) . . , , . . , , . . O . . 28. Bank for International Settlements, BIS = . 17.5.1930 , , - (Hong Kong Special AdministrativeRegion, SAR) 550 50 . 3 ., BIS :1) . 130 BIS. 31.3.1999 112 . , 7% , 31.3.2004 177,5 . 2008 BIS 236 SDR ( 388 ) 6% . BIS . (MITBIS,Medium Term Instruments) (FIXBIS, Fixed-Rate Investment Instruments). , BIS . , . 13,28 . 1998.2) . . 10 (G10), O (1964-1993) , , , (CPSS), (Committee on the Global Financial System) G10 1998 (IAIS) 1999 (Financial Stability Institute, FSI, ). G10 . .3) . 1974 G10 (Basel Committee on Banking Supervision) BIS. : ) , ) , ) 1988 2007 Basel II .4) . . BIS 1,5 . (1 = 1,94 ) 600.000 86% 14% . 8.1.2001 BIS 16.000 . . 7.977,56 5% 29. 8.1.2001 19.3.2003, 1.075,34 . 10 2003 (SDR,Special Drawing Rights). 2008, 683.9 . SDR 9.967,3,5 . SDR. 2009, 55 ( ) (, , ,, , -, , , , , , ,, , , , , , , , ,, , , , , , , , , ,, , , , , , ,, , , , , , , ,, , , , , , , - SAR ). BIS , , , ex officio. 9 . .Bank giro = . . (standing orders) (direct debits).Bank Identifier Code = BIC.Banking disintermediation = . . , , . , . .Banking Supervision Committee, BSC = . 1999 . . , . . , , (Central CreditRegisters).Bank lending survey = . 2003 . , .Bank loans of the single list = Tier-one, tier-two assets and their substitutionby the single list system as from 1.1.2007. 30. Banknote Recycling Framework = . . () 2004 . () . (ATMs), . . (Tellers machines) . , (banknote handling machines) . 2007, (roadmap) . 1.7.2007 (remoteaccess). . , , (common packaging standards) , (electronic datacommunications with professional clients) (a further harmonisation of the NCBs opening hours). , . .Banknote security features = . , , . :A) : Banknote paper = . (Banknote Paper Mills) (cotton fiber paper) , . (polymer paper) . , , , , , , , , , , , , , . (Reserve Bank of Australia, RBA) 1988. . Blind embossing = . . 31. Clear window = . . . () . Diffractive optically variable image, DOVID = . . (hologram,Kinegram, Gyrogram, ). . . . Denomination numeral in optical variable ink (OVI) = . (. 100, 200, 500) . Hologram = . (3D). , (rainbow transmission holograms). Intaglio printing = . , . , . . (suitable colorswith intaglio printing) (intaglio printing relief with tactical properties). Microperf = . . Moire variable color, MVC = . , . Optically variable devices, OVD = . . Optically variable inks, OVI = . . Reflecting foil strips = . Reflecting foil strips with diffractive structure = . Security thread = . . , - - (security thread combined with miniand micro lettering). . See through registers = . . , . Shadow image = . . () . System of transparent reflection against photocoping, STRAP = . (). . Watermark = . 32. . . , (electrotypewire watermark).B) : Copy-evident paper = . . , , (void). Infrared light, IR = . Invisible UV (Ultra Violet) fluorescent fibers = . Microprint = . . :) microtext = . . ) micropattern = . . , .) (machine readable features) ATMS (vending machines): Banknote number is recognised only by special machines = . Barcodes = . . Codified magnetic security thread = . Digital character recognition, DCR = . (scanners) (PCs algorithms). OCR. Infrared light combined inks = . , . (infrared light, IR dark) . , , . Magnetic ink character recognition, MICR = . (OCR) . . Modular features, MF = o (counting and sorting machines) . . Novel numbering = . Novel. , 33. . , . Optical character recognition, OCR = . (machine-editable text) , (scanners), . Small code field intaglio printing pattern = x . Watermark consisted by several diagonal lines = .Barrel = . 42 159 . .Base currency = . . , . , . .Base effect = . , . base effect (t) (t+1) . , base effect (base month) .Basel Committee on Banking Supervision = E . 1974 10 (G10) 13 : , , ,, , , , , , , , ). 4 . (BIS) . , , . G10 . 30 . 1988, (Basel Capital Accord) . 8% . 1997, (CorePrinciples for Effective Banking Supervision) 1999 (Core Principles Methodology). 1999, , 2 (Basel II). 26 2004, , . 26 2004 G10 . Basel II. 34. Basel II = . G10 26 2004. : : : (Basel II:International Convergence of Capital Measurement and Capital Standards: a RevisedFramework). : : . Capital Accord 1998 ( I). . ( ) I. ( 8% ) . :) (operational risk) . , , ) : 1) , 2) , . (credit risk) , (standardised approach), I . I, , , , . , . (Foundation Internal Ratings Based, FIRB) , . FIRB - . , BCBS (Basel Committee on Banking Supervision). FIRB (modern asset pricing theory). H , . . (default) . ( ) (probabilityof default). FIRB, . FIRB (confidence level) 99,9%. , . , FIRB , 35. . :1) Probability of default, PD = . . .2) Loss given default, LGD: . .3) Exposure at default, EAD = . .4) Maturity of the loan = .5) Correlation to systematic risk = . .6) Risk weight factor = . . (advancedinternal ratings-based approach) (inputvariables). (PD) (LGD), (EAD) IRB. (operational risk) , , :1) H (the basic indicator approach). 15% .2) H (standardised approach). . BCBS .3) (advance measurement approach). . ., (market risk) Capital Accord 1998. : , , . . , . , , . . . . : . 36. . . , . 2587, 2588, 2589, 2590, 2591,2592, 2593, 2594, 2595 2596/20.8.2007 2006/48/ 2006/49/, .BASIC, Beginners All-purpose Symbolic Instruction Code = . . . BASIC . , .Basis point, bp = 1%, 0,01%. 50 bp 0,5% 25 bp 0,25%. basis points . , 10 bp .Basis risk = . . . (financial future) (underlying spot instrument) (hedgingtransaction).Batch processing, BP = . off-line ., (payment orders) ( securities transfer orders) . , /.enchmark risk = . benchmark .Bear market = . E . . , 15% 20% bear market.Behind the curve = . . 37. Benchmark = . , . (benchmark portfolio), 10 10 30 . , 3 EURIBOR Euro-LIBOR. (commodities) CRB index 20 , FIXING , Brent (North See Brent blend crude oil) Crude (US light sweet crude oil, WTI) . . :) strategic benchmark = . - . , , ) tactical benchmark = . - . 1, 2, 3, . . (. ). . (outperformance) . , , benchmark (underperformance). benchmark portfolios , .Benchmarking = , . , . benchmarking , .Beta = (market risk) (volatility) (benchmark indices). ., . . , . (regression analysis). 1 . . 38. . . . , . . , 1,2 20% ., : ) ) ) ) ) ) .BIC, Bank Identifier Code = SWIFT. (SWIFT). , (International Organisation for Standardisation, ISO), SWIFT . SWIFT . : (Bank Code). 4 . BANK (Country Code). 2 . CC GR (Location Code). . LL (SWIFT BIC) BANKCCLL . (Branch Code) 3 . MAR. BANKCCLLMAR. , BIC (IBAN, International Bank Account Number, ). 1.1.2006, IBAN BIC () . , 13/15.11.2005: ) 1.1.2006 IBAN BIC ) 2006 IBAN BIC ) , , 1.1.2007.Bid and offer price = bid price , . Offer price , .Big bang = . . 27.10.1986 ( ) (LSE):) ) 39. ) (dual capacity system) , (agents) - (brokers-dealers)) . , . , (building societies) . . . , , 31.12.2001 , 1.1.2002 .Big Four = 4 . , , : 4 , Barclays, HSBC (HongKong and Shanghai Banking Corporation), RBS (Royal Bank of Scotland) Lloyds TSB(Trustee Savings Bank) 4 , PriceWaterhouseCoopers, KPMG (Klynveld, Peat, Marwick and Goerdeler), Ernst &Young Deloitte Haskins & Sells.Bilateral procedures of the Eurosystem = . O () . . . : direct contact with counterparties = . O (). . , , operations executed through stock exchanges and market agents = . O . . .. , , .Bill of exchange = . . (issuer or drawer), (payer or drawee acceptor) (payee orbearer). . , . . . (order bill) 40. (endorsement). , , . . , , , , , .Bill of lading = . . . . , : Negotiable bill of lading = . . Straight bill of lading = . . , , . Clean bill of lading = . Bearer bill of lading = . . . . : Truck bill of lading = . Railway bill of lading = Ocean bill of lading = Post Office receipt = Airway bill of lading = Through bill of lading = . , . : Traditional paper bill of lading = . . Bolero-Bill-of-Lading = . . , , ( Bolero).Bill payable to order = . . (issuer or drawer) (payee). . : ) ) ) . , ) ) ) . ( bill of exchange). , , 41. (endorsement). : 1) , ) , . . ) ) . , .Bit, binary digit = . . 1 . (bit) binary digit. bits . bit : 1 kilobit (kb) = 1.024 bits 1 megabit (mb) = 1.024 kilobits 1.048.576 bits 1 gigabit (gb) = 1.024 megabits 1.073.741.824 bits 1 terabit (tb) = 1.024 gigabits 1.099.511.627.776 bits 1 petabit (pb) = 1.024 terabits 1.125.899.906.842.624 bits 1 exabit (eb) = 1.024 petabits 1.152.921.504.606.846.976 bits 1 zettabit (zb) = 1.024 exabits 1.180.591.620.717.411.303.424 bits 1 yottabit (yb) = 1.024 zettabits 1.208.925.819.614.629.174.706.176 bitsBitmap = . (bit) . bits 1s 0s. / 1s 0s . BMP Paint Windows.Black Friday = . : 24 1869 , , . 20.9 24.9 140 163 . . 4.000.000 . 11.000.000 . 19 1873 . 24 2008: p , 24.10.2008 hedgefunds . , FTSE 100 5%, - 9,71%, CAC 40 - 3,54%, EUROSTOXX 50 - 4,84% Dow Jones IndustrialAverage 30 - 3,59%, NASDAQ Composite 3,24% Sandard & Poors 500 3,45%. IKKEI 6,36%, Hang Seng 12,63% . 42. Black Knight (Chevalier noir) = . , , . , , ( White Knight (Chevalier blanc).Black market = . . , .Black Monday = M . 5 :28 1929 M . 9.250.000 . (29.10.1929) ( Black Tuesday). 19 1987 M . 508 , 22% . : ) ( 40% ) (portfolio insurance) . (futures) 500 . 19.10.1987. 27 1997 . 554. Long Term Capital Management. , 1987.21 2008 . 2007 (US sub-prime mortgagemarket) , 21.1.2008 (sell-off) . (futures) 4,5%, Nikkei225 5,7%, SSEC 8%, HSCE 12%, S&P/ASX 200 share index 7%, FTSE 100 5,48%, CAC 40 6,83% DAX 7,16%. 11.9.2001 . Reuters , 245 .29 2008 . , 2007 (US sub-prime mortgagemarket), . , RP (Trouble Assets Relief Program). 29.9.2008, 228 205 . . DJIA 6,98%, Nasdaq composite 9,14%, o Standard 43. and Poors 500 8,79%, o FTSEurofirst 300 5,23%, FTSE100 5,3%, o Dax 4,23%, o Nikkei 225 2,88%, o Hang Seng 2,49% 5,87%. 6 2008 . , , 6.10 . RTS 15% BOVESPA 15%. FTSE 100 7,85%, FTSEurofirst 300 - 7,75%, Xetra DAX 7,07%, 5,85%, NASDAQ Composite 4,34% Sandard & Poors 500 - 3,85%.Black Scholes model = (European call option). 1973 options (futures). , . , , , . : ) , , call option . put option ) , .Black Sea Trade and Development Bank (BSTDB) = . O 1998 O O . O , O 16,5%. 14%, O 13,5% 5%, 2%, 1% 0,5%. (subscribed capital) 2 SDRs (authorized capital) 3 SDRs. BSTDB : ) , ) ,) (). . , :1) . ,2) . O ,3) . . , 44. , , . O . 11 11 . . 77 1999 O. BSTDB 12 EBRD 40 23 . 10 . 15.4.2000 AVIN INT. O. 2002, 4 (IBA). BSTDB. 3 . 13.10.2003 ALUMIL S.A, , , , ..., , . 20 . . 6 . 16.10.2003 KMB-BANK . 2001 9 . . 27.11.2003 . 5 . DeltaLeasing . 2.12.2003 21 . OPET Petrolculuk A.S . 2005, , BSTDB : ) 5.000.000 CB Unionbank ) 5.000.000 Postcredit Bank ) 20.000.00 JSC CONCERN KALINA ) o Izmirlian Foundation Joint Finance Facility (JFF), 425.000 OVAL Ltd, , 500.000 Valletta Ltd, ) 18.000.000 Esenboga. (SPV) TAV Esenboga Yatirim Yapim ve Isletme AS ) 5.000.000 ) 15.000.000 Shelman SA, , . 2006, , BSTDB : ) , 12.1.2006 (Syndicated Loan Facility) 50.000.000 3 ) 30.1.2006 6.000.000 ProCredit Bank Georgia ) 1.3.2006 United Georgian Bank 3.000.000 ) 3.5.2006 Agricultural Cooperative Bank of of Armenia 3.000.000 ) 11.5.2006 12.500.000 3 Procredit Ukraine ) 23.5.2006 23.000.000 7 RUSAL ARMENAL ) 12.6.2006 2.000.000 AZERDEMIRYOLBANK . 2007, BSTDB : ) 11.1.2007 3.000.000 Inecobank 45. ) 25.1.2007, 5.000.000 NBD-Bank Nizhny Novgorod ) 23.2.2007 18.000.000 Europlan leasing ) 23.2.2007 18.000.000 Kremikovtzi AD ) 18.4.2007 Center-Invest Bank 10.000.000 ) 19.4.2007 9 18.000.000 GSM Avea ) 7.6.2007 3.000.000 CJSCEuroterm ) 18.6.2007 4.000.000 Banca Sociala ) 24.7.2007 14.000.000 OJSC Concern Galnaftogaz ) 9.8.2007 36.000.000 7 NK Alfa-Nafta ) 30.8.2007 550.000.000 UkrainianRailways ) 24.9.2007 1.500.000 Cartu Bank ) 2.11.2007 21.000.000 NJSC Chornomornaftogaz ) 12.11.2007 OJSC Kreditprombank 10.000.000 , ) 6.12.2007 Technika Bank 8.000.000 6 . 17.1.2008 BSTDB 7.600.000 SASGroup LLC . 30.1.2008, BSTDB Procredit Bank 10.000.000 . 7.2.2008, BSTDB Mobiasbanca 5.000.000 . 19.2.2008, BSTDB : ) 5.000.000 Armeconombank 5 , , ) 3.000.000 Inecobank ) ) 8.000.000 Bank Standard ) 5.000.000 Unibank 5 , , ) 10.000.000 ProcreditBank . 28.2.2008 BSTDB 25.000.000 5 OJSC Bank Zenit. 29.2.2008, BSTDB 20.000.000 Credit Bank 6 . 3.3.2008, BSTDB URSA Bank 36.000.000 . 18.4.2008 BSTDB 25.000.000 Albtelecom Sh.A. (SPV) (Calik Energi Telekomunikasyon Hizmetleri A.S (CETEL) Turk Telekomunikasyon A.S (TurkTelecom). EBRD 100.000.000 Albtelecom. 23.5 2008 BSTDB (VNESHECONOMBANK) . (Memorandum of Understanding, MoU). , , . 30.5.2008 BSTDB 15.000.000 Slavinvestbank (SIB) 46. . Slavinvestbank 1994 , , ZAOEuroplan, NBD Bank Zenit Bank. 3.6.2008 BSTDB 12.000.000 Kapital Bank . 8.6.2008 BSTDB 38.000.000 AKB Evrofinance Mosnarbank . 10.6.2008 BSTDB 20.000.0000 Bank Pivdennyi , . 18.6.2008 BSTDB 20.000.000 Krm International Ltd . 28 2008 BSTDB 3 14.500.000 Procredit Bank Bulgaria 6.000.000 2003. 19.9.2008 BSTDB 325.000.000 20.000.000 . Bayerische Landesbank (BayernLB), Emirates NBD PJSC(Emirates NBD), Intesa Sanpaolo S.p.A. (ISP) and Sumitomo Mitsui Banking Corporation EuropeLimited (SMBCE). BSTDB. 7.10.2008 BSTDB Nordic InvestmentBank (NIB). , . 4.11.2008 BSTDB (Technical Cooperation Special Fund) BSTDB. ( ) 500.000 . BSTDB . , , , . BSTDB , , , , , . OesterreichischeKontrollbank AG (OeKB) . 18.9.2008 BSTDB 325.000.000 20.000.000 Bayerische Landesbank, Emirates NBD PJSC, Intesa Sanpaolo S.p.A Sumitomo Mitsui Banking Corporation Europe Limited. . 28.4.2008 BSTDB Petrom S.A 25.000.000 7 . 475.000.000 (European Bank forReconstruction and Development, EBRD) . , , .Black Thursday = 24 1929. , (what goes up, must come down). T 12.900.000 4. . , , . 12.30 . J.P. Morgan andCompany . , , X broker J.P.Morgan and Company o U.S. Steel. 47. 195. O 10.000 205. 13.30. .Black Tuesday and the Great Depression = . 29 1929. 16.400.000 . 12%. . (the Great Depression) (1929 1940). 100 . (the Great Stock Market Crash). To 1932 Dow Jones 41,22 381,17 , 89,2%. 22 . 5.500 , 40%, 50%, 2.000.000 17.000.000 30%, 50% 12 5 . 1933 NewDeal ( ). 11 2001 , United Airlines . . , .Black Wednesday = 16 1992. (ERM I) , 1.000.000.000 . 10% 15% 3.300.000.000 . 800.000.000 . ,, ERM I .Block trading = . 10.000 .log = (bloggers). internet . blog , , , , , , , . , , (breaking-news outlet), internet (collection of links), , 48. . , .Blue-chip stock = Blue-chips (top-class credit ratings), , , , . . . . , blue-chips , .Bluetooth = , , . Bluetooth , , FAX / . chip 2.45 GHz. 1 2 . , 10 . , , . (car bluetoothheadset) . .Bolero (Bill of Lading Electronic Registry Organisation) = . 1994. Bolero 1998 . Bolero.net 1999. Bolero International Limited, (joint venture) SWIFT TT Club ( Transport Mutual Insurance Association Limited). Bolero Association Limited, .Bond = . . . ( yield curve) (, ). (face or par value), (coupon rate) (interestor coupon period). H (zero-coupon bonds) (coupon bonds).A : Accrual bond = . Accumulation discounted bonds = . , , , . 49. Aussie bond = . Authority bond = . . Bear bond = . Bearer bond = . . . Blanket bond = . (brokers) . Book-entry bond = . . Brady bonds = Nicholas Brady. 10 30 . . (warrants) . . Brady 1980 . (collateral) . ulldog bond = . Bullet bond = (non callable bond or puttable bond), . . Bunds = . Callable bond = . O . Collateral bond = (collateral). H . Commodity-backed bond = . (hedge) . Compound interest bond or C - bond = () . Convertible bond = . : Vanilla convertible bond = . . Exchangeable (XB) bond = . . Mandatory convertible bond = . . . Mandatory exchangeable bond = . . 50. . Contingent convertible bond (co-co) = . . OCEANEs (Obligation Convertible En Actions Nouvelles ou Existantes) = . . Convertible preferred stock (or Convertible preference shares in the United Kingdom) = . (lower seniority) . . SPV (Special Purpose Vehicle) convertible bond = (SPV). SPV (holding company). Going-public bond = . , (Balladur bond). Hybrid bond . Corporate bond = . Coupon bond = . . . , discount notes zero coupon notes . Covered bonds = . Covered bonds. Cushion bond = . De-leveraged bond = . . Discount bond = . Double currency bond = . Double-dated bond = . . Fidelity bond = . . , . Fixed rate bond = . . Floating rate bond or note = . Euribor, Libor, HICP, CPI. (index-linked bonds). (inflation indexed bonds) TIPS ( ). 51. General obligation bond = . . Gilts = . Guaranteed income bond = . / . Housing bond = . . , , . Income bond = . . Indexed bond = . ( Inflation Linked Bonds). Insurance bond = . nvestment-grade bond = . BBB Standard & Poors Baa MoodysInvestors Service. Irredeemables, perpetuals or consols = . Junk bond = (S & P) (Moodys) . . Junior bonds = . Kiwi bond = . Long bond = , 30 (benchmark index). Lottery bond = . . Mortgage bond = . . , . Mortgage Backed Securities, MBS. Municipal bond = . Participating bond = . . Pickup bond = (callable bond) . (redemptionpremium). Premium bond = . Privilege bond = . (warrants). Puttable bond = . Registered bond = . -. 52. (bearer bond) . Reorganization bonds = . Samurai bond = . . Savings bond = . 50 10.000 . .Securitised bonds = (asset-backed securities (ABS), mortgage backed securities (MBS) . Series bond = . :Series EE bonds = 50% . , 6 . . , . . 50 10.000 . . EE 30 . , ( ) .Series HH bonds = . 500 10.000 . 6 20 . 10 . 10 .Series I bonds = : ) ) . 6 . 6. 30 3 5 . Shogun bond = . Short bond = . Sour bond = . Sovereign or government bonds = . Step Up bond = . , . Straight or plain vanilla or fixed rate or bullet bond = . 53. . . Strip bonds = . , . Subordinated bond = . , , . Surety bond = . . . , surety bond . Tax deferred bonds = . Variable rate bonds = Floating rate bond. War bond = . . (national defense bond). Zero-coupon bonds = . , . . O . (corporate bonds). :) fixed-charged debentures = , ) floating-charge debentures = ) debentures = . (domestic bonds) (foreign bonds). . , , ,. :1) (fixed-rate bonds) 3, 5, 7, 10, 15 20, 30 40. 23.2.1998 2 2) (savings certificates) 44.000 . :3) (floating-rate bonds) 3, 5 7 . (spread) . O 19974) (zero-coupon bonds), 1997 5) (privatisation bonds). O 1998 3 5 . O 54. 1.1.1999 6) (Consumer Price Index - linkedbonds). 4% . 19.5.1997. 23 12.7.2002 16.4.2007 29.1.2008 22 (HarmonisedIndex of Consumer Prices, HICP)7) (foreign currency - linked bonds). 1987 . 1995 1997 .. . 1.1.2001 8) (structural bonds). 2005 . . (liquidity risk) (market risk)9) (syndicated loans) 2009, 3, 5 10 .10) (tax-free bonds). 2009 . .Bond market = . , .Bond trader = . dealer , (spot market), (forward market), (futures) repos and reverse repos.Bond yield = . . , internal rate of return, .Book building = . ( Initial Public Offer, IPO). . . . , , . , : book runner. . , (syndicate member) . bidding . 5 . 55. . . book runner , , : ) ) ) . book runner . , .Book entry system = (.. ) . , .Book value = . . . . H book value , . H book value ( ) marketvalue ( ) .Bottom up = .Bourses Blue-Chip Indexes = . TopixCore 30 index , FTSE-100 , Xetra Dax-30 , CAC-40 , Milan Mib-30 , Amsterdam Exchanges-25, o AustrianTraded Atx-20 , BEL-20 , Hex-20 , Ibex-35 , Omx-31 , SMIO-21 , OBX Stock - 25 Hong Seng Stock-23 . blue-chip index "Dow-Jones 30" ( ). FTSE/ASE-20 (FinancialTimes Stock Exchange / Athens Stock Exchange). 20 . 1997 FTSE International. 6 . 15% 100%. FTSE/ASE-20 o FTSE/XAA 40, o FTSE/XAA SMALLCAP 80, OFTSE/Med 100 (general index) 60 , .Break-Even Point, BEP = option BEP .Breakout = ( ) ( ). 56. .reach = , . .Bretton Woods agreement = . 1944, , , : (IMF) , (World Bank). . , 35 / .O 1%. , . 1969-1970. . O 1971 Smithsonian Agreement. 2,25% 4,5% 9%.BRIC (Brazil, Russia, India and China) = , , . . 4 , . , , .Brilliant Uncirculated, U = . .Broadband = . (bandwidth) . .Broadband networks = . , , . , , . , (.) 55.000.000 . 13 2007. 19.000.000 . 62 . 20% 30% , , 10% 24 27 .. , 2007 108% 2006 488.000 2006 1.017.000 2007. 53% 47% . 57. 2006 374, 512 1.024 kbps 82,7% 374 bps. 2008 60,70% 1 24 bps. 29.1.2009 () 2008 5-6 . 1.017.000 2007 1.506.614 2008 50%. 13,4% .. , 2008 48,1%. (1.506.614), 1 2009 184.625 .Broadcast = 1) . (Emailmessages). multicasting . 2) , .Broker = . . O (brokerage fee) . broker : execution service only = . broker . , (the best price). , advisory service = . O broker discretionary broking = . broker . broker . .Brokerage house = (brokers) (futures) (options on futures) .Broker dealer = - . (broker) , broker dealer . .Browser = , Internet. HTML Internet . (interface) . 1990, browsers Netscape Navigator 90% Microsoft Internet Explorer . Mosaic FireFox Lynx. , Microsoft InternetExplorer 80% Netscape Navigator 0,6% 1 2008 Navigator 9 browser . 16% 58. Firefox 17.6.2008 Firefox 3 Opera 9,50. , .Buba = DeutscheBundesbank.Bubble = .Budget of the European Union = o E . T 1970 3,6 . ECU (19 ECU ) 2000 93 . (250 ). O : 1) 41 . (44%) 2) 33 . (35%). To 2005, 25 , 109,5 . . 2000-2006 1 AE 75% 2 3. T T 8% 3) 6,5%. E , , , 4) 5,1%. E 5) , , 32.000 4,7. 5%. 2008 27 , 129,1 : (sustainable growth), (competitiveness), (education), (research), (social policy) = 58 . (cohesion), (convergence), (regionalcompetitiveness), (employment) = 46,9 . (natural resources), (environment), (agriculture and fisheries) = 55 . , (freedom, security and justice) = 0,7 . (citizenship), (culture), (media), (public health), (consumer protection) = 0,6 . . (the EU as a global partner), (pre-assession), (European neighbourhood), (humanitarian aid), (democracy and human rights) = 7,3 . (administration), (European Commission), . (other EU institutions) = 7,3 . (compensations to new EU countries = 0,2 .. 2008 67% , 16% (), 16% , 1% . 18.12.2008, 2009 116,096 () 0,89% . 45% 60 , , . (research), 2008 11% (innovation) 22%. (agriculture and fisheries) 40% 40 59. (environment), 2,9%. , 13,6 . . (the EU as a global partner), 0,6 1 . , 12 (competitiveness), 12 , 1 (Lifelong Learning Programme) (Cohesion Fund) 48,5 . O . :) (traditional own resources) = . E ) the harmonised VAT (Value Added Tax) = (A) 35% 2000 1% 0,75% 2002 0,50% 2004. 2008 16% ) the application of a rate to the sum of all the Member States GNPs, GNP resource = 2000 50% 2008 67%) other revenue = . E.E, . (own resources) 1,27% AE E.E. H : 1) E E 2) E 3) E K . . E EK . H E E . , . O E . E K .Buffer = H/Y , .. H/Y . , buffer / (hardware) (software) . . . .Bug = /. (software error) (hardware error) . . / (crash) . . 1945 60. / Mark II Aiken RelayCalculator .Building society = . Building Societies Act 1986 , , . , building societies .Bullion = ( 99,5%) .Bullion coin = ( (gold), (silver), (platinum) (palladium), (iridium), (rhodium), (osmium) (ruthnium). . , . .Bull market = (bull market) . . .Buoyant market = . .Business case = . . , , .Business Continuity Management, BCM = . . : , , , , , , , , , , . BCM (disaster recovery) . (business recovery), 61. (business resumption), (contingency plan) (crisis management). , BCM . , (Recovery Time Objectif, RTO) (Maximum Tolerable Outage, MTO) . , (tests) .Business cycle = . . 4, 5 10 . . O .. () 20 30, 1990-1992 1998-2003 1991-2000. , (.. ) . - , .Business risk = . , ., (marked-to-market). (market risk) (business risk) . . (business plans) . , (book-value accounting) . . : (earnings risk) . . . , (cash flow risk) . . , . .Butterfly spread = (options) options (expiration date) . ) call option( ) ) put option ( ) ) call put 62. option . (underlyinginstrument) .Buy-back = . : ) ) (credit rating) ) ) , ) . short long.Buy-in = .Buy-in management buy-out, BIMBO = . , . , -, (management) . (venture capital).Buyout = .Buy/Sell Back - Sell/Buy Back (BSB SBB) = ( ) ( ) . Dollar Rolls. repos . , , spot (substitution of collateral). , (variation margins)., . Buy/Sell - Sell/Buy repos reverse repos :) ) ( spot forward) ) ) . ) (Master Repurchase Agreements) 63. ) .uy side firms and Sell side firms = Direct Market Access (DMA).Byte = . byte 8 bits. T byte : 1 kilobyte (KB) = 1.024 bytes 1 megabyte (MB) =1.024 kilobytes 1.048.576 bytes 1 gigabyte (GB) = 1.024 megabytes 1.073.741.824 bytes 1 terabyte (TB) = 1.024 gigabytes 1.099.511.627.776 bytes 1 petabyte (PB) = 1.024 terabytes 1.125.899.906.842.624 bytes 1 exabyte (EB) = 1.024 petabytes 1.152.921.504.606.846.976 bytes 1 zettabyte (ZB) = 1.024 exabytes 1.180.591.620.717.411.303.424 bytes 1 yottabyte (YB) = 1.024 zettabytes 1.208.925.819.614.629.174.706.176 bytes. 64. CCable modem = .CAC (Cotation assiste en continu) 40 index = 40 (Compagnie nationale des Agents de Change). (real-time) . CAC. SBF 120 SBF 250.Cache = . / . / (CPU, Central Processing Unit) CPU . . . CPU 128KB . 512. , , , . Internet Explorer , cache .Calendar spread = . (options) options (same asset class), .Callable bond, callable deposit and callable interest-rate swap = , . , , . . Libor Euribor. , , . (callable interest-rate swap) , , .Call accounts = 24 .Call date = , , .Call money = . . . 65. Call notice deposits = 24 .Call premium = .CAM, Computer-Aided Manufacturing = /. , , , .Candlestick chart = . 1.600. . , . . (Japanese candlesticks), . (open) (close) (real body). (black body) . (white body) . Y (shadows). (high) (low) . To high low . , . . . . , , . , , .CAP = Common Agricultural Policy.Cap = . 66. . , (FRN, Floating Rate Note) (ARM, Adjustable RateMortgage) . , Libor + 1% 5% 8%, 5%.Capacity utilisation rate = . . (actual output) (potential output). , . , 85%, . 70% .Capital Asset Pricing Model, CAPM = . , 1964 1965 . . CAPM risk premium ( ) . , , . CAPM : ra = rf + ba (rm rf ) rf (Risk free rate), ba (Beta, ) rm . CAPM : 1) : ) (standard deviation) ) short sales ) , (variances) (covariances) ) (price takers) . 2) . 3) . 4) . 5) .Capital gain and capital loss = . Capital gain . , . 10 14 4 . . 99 102 . . , . 20.000 300.000 280.000 . Capital loss . (, ). 67. Capital market = . . , , , . - , : , . . . , , , , , , , , , (brokers) .Carat = . 1) . 0,2. 2) . 24 . 18 75%, 14 58% 9 37,5%.Card Payment Scheme, CPS = . , . (oversight of paymentsystems) , .Caribbean Development Bank, CDB = . 1969 , . , , , . :) 18 (Regionalmembers), , :, , , , , , , , , , , , , , , , , .) 1974, 1978 1982 (Other Regional Members or Regional Non-Borrowing Members), , ) (Non regional, Non-Borrowingmembers) . , , , . CDB : ) ) . 68. CDB (Board of Governors) (Board of Directors) 17 . , , . CDB 99 11 98 .Carry = (cost of financing). . , (underwriting or trading position). carry . . carry .Carry trade = . . . , 100.000 4%. 5,50%. carry trade : ) . ) . carry tradecurrencies 2006 ( 0,25%) (1,25% 2,25%) : (5,25%), (5%), (6,25%), (4,25%) (7,25%), (3,50%) (3%). , .Cartel = . cartel . cartel (OPEC, Organization of PetroleumExporting Countries, ).Cash and carry = . long , short (underlying instrument) (future) long. , future . future .Cash and economic approach = .Cash or value date or settlement approach , . spot .Economic or trade date approach , . 69. 1.1.2007 , .Cash Card = . . (ATMs, Automatic Teller Machines) (, , , , ) . , , . , ().Cash equivalents = . . , , 180.Cash flow = . . , . , . , , . , . , . , , .Cash-in machines, CIM = . . . Depositing/cash-in machines.Cash management = . , . .Cash market = . : ) (spot) ) ) (futures). 70. Cash on delivery, COD = . , .Cash or title option, COTO = . (countercyclicalstrategy). , .Cash-recycling machines, CRM = . . , , , . , CRM .CD = Certificate of Deposit.CD-ROM and DVD-ROM = 1) CD-ROM (Compact Disk Read Only Memory) ( ) . 650 , 450 2) DVD-ROM(Digital Video Disk - Read Only Memory Digital Versatile Disk -Read Only Memory) 17 , 38 CD-ROM.CEDEFOP = (CentreEuropen pour le Dvelopment de la Formation Professionnelle EuropeanCentre for the Development of Vocational Training). 1975 1995 . . . ,, . . , (UNICE), (ETYC) ( ) . CEDEFOP :1) 2) 3) 4) CEDEFOP, , 5) CEDEFOP (www.trainingvillage) (European Training Village).CEDEL (Centrale de livraison de valeurs mobilires) = 1970 . 2000 (Deutsche Brse) Clearstream ( ).CEFTA (Central European Free Trade Agreement) = . 21.12.1992 2004. , , . 1996 , 1997 1999 . 2004 2007 71. . , CEFTA 2002, FYROM 2006 2007 , , , , o UNMIK(United Nations Mission in Kosovo). 2005, , (association agreement) CEFTA. CEFTA , , , , , , , , .Ceiling = . : interest rate ceiling = (adjustable rate mortgage, ARM) exchange rate ceiling = loan legal maximum interest rate = .Cellular telephone = . . (cell transmitter) .Central Bank Counterfeit Deterrence Group, CBCDG = . 2000 10 (G10). 31 . , , () . CBCDG . (Counterfeit Deterrence System) . (International Counterfeit Deterrence Centre, ICDC) CBCDG. ., ICDC CBCDG.Central Bank Gold Agreement = . 1999 2004: , Washington Agreement onGold, WAG, 26 1999 26.9.2004. 1) : 2) Oesterreichische Nationalbank 3) Banca dItalia 4) Banque deFrance 5) Banco do Portugal 6) Schweizerische Nationalbank 7) Banque Nationale de 72. Belgique 8) Banque centrale du Luxembourg 9) Deutsche Bundesbank 10) Banco de Espaa11) Bank of England 12) Suomen Pankki 13) De Nederlandsche Bank 14) Central Bank ofIreland ( 1 2003 Central Bank and Financial ServicesAuthority of Ireland) 15) Sveriges Riksbank. , WAG . 85% (veto). : , , . 400 2.000 , (gold leasings) (gold futures) (gold options) , . 2004 2009: , 8 2004, 14 27 2004. , . 22.2.2006 8.3.2004. 25.1.2008 . , 2008 8 2004 : European Central Bank, BankaSlovenije, Banca dItalia, Banco de Espaa, Banco de Portugal, ,Banque centrale du Luxembourg, Banque de France, Banque Nationale de Belgique,Deutsche Bundesbank, Central Bank and Financial Services Authority of Ireland, , Central Bank of Malta, De Nederlandsche Bank, OesterreichischeNationalbank, Suomen Pankki, Schweizerische Nationalbank, Sveriges Riksbank. 1999 : 400 500 2.000 2.500 . 1999 . 27.9.2004, 31.3.2006 (27.9.2004 26.9.2005 57 .Central bank independence = . (.) 1998 . : institutional independence ( ): . () () ( , , , , , ). , 73. ) ) ,, ) ) ) ., personal independence ( ): , (. ) . (serious misconduct). , functional independence ( ): O . financial independence ( ): 1) . (further calls) , 2) . .Central Counterparty = . .Central Credit Register (CCR) = . , .Central Processing Unit = CPU.CEO = Chief Executive Officer.Central Securities Depository (CSD) = . , . , (collateral) . . . 74. Certificate of Deposit (CD) = . . . , , . , . , , , 1 12 . . . : Bull CD = . Brokerage or brokered CD = . (broker), , . , 1% Domestic CD = . . Euro CD = . , Euro CDs . Euro CDs . Eurodollar CD = . . , CSs . tap CSs tranche CSs . Foreign CD = CD. . , (Yankee CD). Jumbo CD = 90.000. , , , . CDs. Negotiable CD = . CD , , . . Lock up CD = CD. . , . Term CD = . . Variable - rate CD = . CD (on rolldates) .Certificate of origin = . ( ) . . . 75. Ceteris paribus = . . . , , ceteris paribus, , . , , .Changeover weekend = . O .O , 31 1998 , 3 1999. , . 31.12.98 . . O , . 3.1.99 6 .. . 4.1.99. 30.12.2000 1.1.2001. HT () 2.1.2001 2I 2001 . . T . M T, . E EPMH EPMH EPMH, 2I 2001 . M EPMH T, E, . O T, . T T EKT. M , T M 2.1.2001 H A T (HAT) , .Charge Card = . . , , / . .Chart = , . , , . 76. Chartist = (charts) , , .Cheapest to deliver bond (CTD) = . (future) . , , .Check truncation = . . ( , , ) . , .Cheque = . . (issuer or drawer), (payee or bearer) (payer or drawee). , , , , , , . . . , . : account cheque or for deposit only cheque = . for deposit only. . bank cheque = . blank cheque = . . . certified cheque = . cheque without cover = . N.S.F Cheque (Not Sufficient Funds). , common cheque = crossed cheque = . : 1) (general lining) 2) (special lining) , 77. utstanding check = . . personalized cheque = . / postal cheque = . postdated cheque = . , . . 28 5960/1933 , . , , , . 1957/1991: . , , () 1.4.2006 1.10.2006. , . , . private cheque = . () public Treasury cheque = . , , stale dated cheque = , . . , third guarantor cheque = . travellers cheque = . . , , . , , .Cheque Guarantee Cards = . . (eurocheque). .Chicago PMI (Purchasing Managers Index) = 10.00 . Chicago Purchasing Managers Association 200 . 50. 50 50 . , , , , , .Chief Accounting Officer, CAO = , 78. . (CEO) .Chief Administrative Officer, CAO = . . (CEO). , , .Chief Analytics Officer, CAO = . , , (CEO). , , , .Chief Compliance Officer, CCO = . (money laundering) ., . . (CEO) .Chief Executive Officer, CEO = . . : (executive board) (supervisory board) . CEO executive board supervisoryboard o chairman.Chief Financial Officer, CFO = . E , , , , . (CEO) . CFO , , , .Chief Information Officer, CIO = . (CEO), , . . , . , . , .Chief Legal Officer, CLO = . 79. (CEO). . .Chief Marketing Officer, CMO = . (CEO) , , , . , .Chief Operating Officer, COO = (day-to-date) . . . , . , , . (CEO) . . CEO .Chief Strategy Officer, CSO = . (CEO) . ) , ) ) .Chief Technical Officer, CTO = . . , ., (ChiefInformation Officer) . (CEO). CTO .Chinese wall = . , . , . (traders, dealers) 80. (investment bankers) (inside information)., (Corporate Finance) (FundManagement). . , .Chip = . . .Chip card = (integrated circuit card, ICcard) (smart card). , ().Classic and Electron Card = . , , (shopping protection), .Classical Global Note, CGN = Global bonds.Clean credit = . .Clean price = . .Clearing House = . . , . .Clearstream = . 1970 CEDEL. 2000 Clearstream Deutsche Brse Clearing AG Deutsche BrseGroup. Clearstream 2.500 : ) ( ) (, ) ) , ) ) (collateral management).Client = . / / /. (PC workstation) (server) . . O H/ host (host PC, hostserver, host Internet).Client / Server architecture = . (, server) 81. H/Y (clients). O , . O .Close a position = . long position short position.Closed-end fund, CEF = . . , . , CEF . , CEF . , .Close-end credit = , , , .Close links = . : ) , , 20% ) .CLS = Continuous Linked Settlement.Clustering = /. H/Y (server) / servers , . cluster (sub-servers). (database sub-server) (application sub-server). sub-server , sub-server . servers .CME Group (Chicago Mercantile Exchange Group) = , 2007 (merger) 2008 NYMEX:1) Chicago Mercantile Exchange Holdings Inc., CME. 1898 Chicago Butter and Egg Board 1919 Chicago Mercantile Exchange. . . . , . , CME (futures) (options on futures). , OTC 250 industrialstock price index S & P 100 and 500 index, . 2006, 1,406 827 . 82. 2) Chicago Board of Trade, CBOT. 1848 (futures) (options on futures). 3.600/ 50 futures options. 2006, 805.884.000 . CBOT . , (,), . 9.7.2007 CME 11,6 . CME Group . 29 2007. .3) New York Mercantile Exchange, NYMEX. 17.3.2008 CMEGroup, , NYMEX. CME Group NYMEX 0,1323 36 NYMEX. NYMEX 19% . , . NYMEX Globex CME.COBOL, Common Business-Oriented Language = . / , , . 1959 . 1990 (object-orientation) 2002.Co-branded card = ) ) . . . : ) ) .Collar = 1) cap ( ) floor ( )2) (Floating-Rate Note, FRN) (Adjustable-Rate Mortgage, ARM). , 3) call option long put option long stock. (options) .4) (Collateralised Mortgage Obligation, CMO) collar , yield , . 83. Collateral = . , (cash collateral), (bond collateral), , . . (cllaterisation) . . , collateral . (financial collateral) , .Collateral systems = (). :) pooling system: , ) earmarking system: . .Collateralised Debt Obligation (CDO) = . (collateralised) (sub-prime mortgage loans), . , CDOs (tranches) . , . 2006, CDOs 503 .Collateralised Loan Obligation (CLO) = . (collateralised) . collateral (Special Purpose Vehicle, SPV, ) . (tranches). . CLOs .Collateralised Mortgage Obligation (CMO) = (mortgage-backed security). (MBS) pass throughsecurities ( ). CMO 15 30 . / (prepayment risk) . MBS. . , . , . 84. Collateral substitution = . . .Collateral threshold = . . . , (Interest Rate Swap, IRS) (Currency Swap, CS) (collateral) 20.000 (credit rating) 10.000 credit rating + .Comfort letter = .Comitology = , , .Commercial Paper (CP) = . o (unsecured) , , , 30 270 . , dealers . (collateral) (credit rating) CPs. . CPs , , . CP, 4 : (promissory note), (draft), (check) (certificate of deposit, CD). CP (Euro commercial papers, ECPs). . : ) . ) (dealer) . dealer . CP . 1986. 50 . O CPs . 85. , . . , , . , (Special Purpose Vehicle, SPV), .Commingling = , , (broker) . brokers .Commission = .Committee of European Banking Supervisors, CEBS = . 2004/5/EC 5 2003. : ) . ) . o / (financial stability) ) . . ( , ) . CEBS: 1) 2) . 3) . CEBS , (stress testing) (standards on outsourcing). 23 2009 2009/78 EC (Commission Decision of 23 January 2009 establishing the Committeeof European Banking Supervisors) 2004/5/EC 5 2003 . (financial stability) 2007 - 2009. , : CEBS (European Commission) (financial conglomerates) CEBS , (non-bindingguidelines, recommendations and standards) CEBS .. 86. , CEBS (mediate or facilitatemediation) , (opinions) , , , , , CEBS , CEBS , (Committee of European Securities Regulators), (Committee of European Insurance and Occupational Pensions Supervisors) (Banking Supervision Committee (BSC) of the European System of Central Banks) CEBS , , , . CEBS (financial conglomerates) (Committee of European Insurance and OccupationalPensions Supervisors) (JointCommittee on Financial Conglomerates). CEBS , . CEBS . CEBS . , . CEBS . CEBS , . CEBS , . CEBS (by consensus). , (qualified majority). .Committee of European Insurance and Occupational Pensions Supervisors, CEIOPS = . 87. 2004/6/EC 5 2003 2009/178/EC 23 2009 . (financial stability) 2007 - 2009. , : (Committee of European Insurance and Occupational Pensions Supervisors) (European Commission) , , (financialconglomerates) , (non-bindingguidelines, recommendations and standards) , .. , (mediate or facilitate mediation) , (opinions) , , , , , , , , (Committee of European Securities Regulators), (Committee of European BankingSupervisors, CEBS) (Banking Supervision Committee (BSC) of the European System ofCentral Banks) , , , , , . , . . E K (Joint Committee on FinancialConglomerates). E , 88. , . ,, . . , . . , . , . (EuropeanInsurance and Occupational Pensions Committee) 2004/9/EC/7.1.2004 . (by consensus). , (qualified majority). .Committee of European Securities Regulators, CESR = . 2001/527/EC 6 2001 2009/176/EC 23 2009 . (financial stability) 2007 - 2009. , : (Committee of European Securities Regulators) (European Commission) (, securities) (financial conglomerates) , (non-bindingguidelines, recommendations and standards)