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    Money in caricature and satire
    Exhibition: “Money in caricature and satire”

    From 20 September, the Money Museum presents a new special exhibition that approaches money from a unique perspective, viewed through the lens of caricature and satire.

    • 20.09.2022 – 29.10.2023
    • Frankfurt am Main
    Exhibition: “Money in caricature and satire”
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    Bundesbank symposium “Banking supervision in dialogue”
    Bundesbank symposium

    The Deutsche Bundesbank hosts the Bundesbank symposium annually, with the aim of promoting the exchange of information on current topics relating to banking supervision within the banking industry.

    • 05.07.2023
    • 08:30 – 16:30
    • Frankfurt am Main, Germany
    Bundesbank symposium
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  • Statistics
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    SDMX Web Service

    The Bundesbank provides a new procedure for the automated download of statistical data sets. The web service offers an interface for programmatic access.

    SDMX Web Service
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    Time series databases

    The Bundesbank’s up-to-date statistical data in the form of time series (also available to download as a CSV file or SDMX-ML file).

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    Cashless money transfer
    Bank sort codes search

    Here you will find information on the bank sort code file and on the bank sort code update service. You can also download the bank sort code files.

    Bank sort codes search
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    University of Applied Sciences in Hachenburg
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    With the dual bachelor's degree in applied computer science, we offer an attractive career in the world of information technology.

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  1. Homepage
  2. Glossary

Glossary

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Glossary

What will I find in this section?

Technical terms, unfortunately, cannot always be avoided – particularly when it comes to complex topics such as monetary policy. This is why we have compiled a glossary with a wide range of terms, arranged in alphabetical order and each with a short explanation.

10 results
  • Haircut

    In stock market speak, the term "haircut" refers in general to a discount. In particular cases, this could be, for instance, a percentage discount on the market value of a security that the debtor gives the creditor as collateral. The haircut shows the perceived risk involved in holding the security. In a collateralised transaction – such as a repo – the haircut provides the lender with a guarantee that, if the necessity arises, the proceeds from the sale of the security will be adequate to cover the outstanding debt. The amount of the haircut depends on the extent by which the value of the security is expected to fluctuate. The European Central Bank (ECB) also uses haircuts for its repurchase operations; the amount of the haircut depends on the risk inherent in the security in question. A haircut can also be applied to debt.

    See also

    • European Central Bank (ECB)
    • Repurchase agreement
  • Harmonised Index of Consumer Prices (HICP)

    The Harmonised Index of Consumer Prices (HICP) is an index used to measure the development of consumer prices in Europe. It is calculated by the national statistics offices (Federal Statistical Office for Germany) for the individual EU countries as well as for Iceland, Norway and Switzerland using harmonised concepts, methods and procedures. The Statistical Office of the European Union (Eurostat) combines this into a composite index for the European Union and the euro area. The Eurosystem uses the HICP to gauge price developments and as a measure of price stability in the euro area. Furthermore, the HICP serves as a measure of economic convergence in the European context.

    See also

    • Basket of goods
    • Consumer price index (CPI)
    • Inflation
    • Price index
    • Price stability

    Further information

    • Animation videos
  • Hedge fund

    A hedge fund is an investment fund which is less closely regulated than a mutual fund. The lower level of regulation enables hedge funds to invest in derivatives, for example, which investors can use to hedge against price losses on the stock market, hence the name “hedge fund”. The comparatively low level of regulation also gives hedge funds leeway to follow risky investment strategies with all types of financial instruments, which could result in high earnings but also in high losses. In response to the financial crisis and with a view to safeguarding financial stability, an EU directive was transposed in Germany in 2013 subjecting hedge fund managers to a number of provisions, including the requirement to hold a minimum amount of capital as well as disclosure obligations.

    See also

    • Financial stability
    • Mutual fund
  • Helicopter money

    The term “helicopter money” refers to payments made by the central bank to all citizens without expecting anything in return – as if someone were to let money rain down from a helicopter to the people on the ground. These transfers can be made in the form of cash, book money (credit to an account) or spending vouchers, for example. Helicopter money is intended to strengthen demand for consumer goods in economically difficult times and thus increase the price level or avert a deflation scenario during a period of weak economic activity or a crisis.

    See also

    • Book money
  • HICP (Harmonised Index of Consumer Prices)

    See

    • Harmonised Index of Consumer Prices (HICP)
  • Hologram

    See

    • Portrait hologram
    • Satellite hologram
  • House bank

    A house bank is a bank with which a company conducts most of its financial business. This kind of close business relationship is common in Germany, Japan and Austria in particular, which is why the banking system in these countries is often called the relationship banking system.

    See also

    • Bank (Credit institution)
  • Household

    Households are individuals or groups of individuals considered independent economic entities, primarily as providers of labour power and as consumers. Private non-profit organisations are also included in the household sector.

  • Human capital

    Human capital describes the ability of the labour force to produce economic value through its competence, skills and knowledge. It is an important production factor that can be improved by investing in education and training. The human capital of an economic territory or enterprise is thus an important location factor and indicative of their economic potential.

  • Hyperinflation

    An extreme form of inflation is known as hyperinflation. It is characterised by a rapid rise in price levels, usually with a monthly inflation rate of more than 50%. Germany experienced hyperinflation from 1922 to 1923.

    See also

    • Inflation
    • Price level
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