- Industria: Financial services
- Number of terms: 25840
- Number of blossaries: 0
- Company Profile:
UBS AG, a financial services firm, provides wealth management, asset management, and investment banking services to private, corporate, and institutional clients worldwide.
Also: subsidiary company. Legally independent company that is controlled by another company, its parent company. The subsidiary may have been founded by the parent company or acquired by it, and forms part of a corporate group.
Industry:Banking
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.
Industry:Banking
(1) Price reduction expressed in percent which may be deducted from the invoiced amount if payment is made within a specified period.
(2) Interest deducted in advance if claims falling due later, esp. drafts and bills, are purchased. The net amount of the claim after deduction of the discount is immediately credited to the beneficiary upon presentation. Discounting is usually effected by a bank.
(3) Synonym for disagio.
Industry:Banking
Under Swiss withholding tax law, the annual distribution of investment trusts deriving at least 80% of their income from non-Swiss sources is credited to shareholders not residing in Switzerland without deduction of Swiss withholding tax, provided the bank where the coupons are cashed declares:
(1) that the shareholder does not reside in Switzerland,
(2) that the shares are deposited with it in a safekeeping account,
(3) that the coupon amount is not paid out in cash but credited to an account held by the shareholder at that bank.
Industry:Banking
A system used to settle mutual indebtedness between a number of organizations (banks, brokers, etc). All claims are set against one another, a balance is struck at agreed intervals and only the differences are settled. Used frequently in securities clearing.
Industry:Banking
In Switzerland there is no state deposit insurance, however Swiss banks offer depositor protection.
Industry:Banking
Totality of measures taken by a central bank to control the money supply, interest rates and the exchange rate against foreign currencies.
Industry:Banking
Also: funded pension scheme, funded pension system. Method of financing employed by insurance companies and pension funds. The contributions of the insured parties are accumulated to form the capital required for the payment of insurance benefits. Opposite: pay-as-you-go system.
Industry:Banking
Daily adjustment of (generally exchange-traded) derivative contracts to calculate daily gains or losses on the relevant position.
Industry:Banking
Securities issued at the nominal or face value, i.e. without agio or disagio (premium or discount). In the case of an above par issue the price is higher than the nominal value and in the case of a below par issue it is lower.
Industry:Banking
