- 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: 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).
Industry:Banking
Name commonly used for the International Bank for Reconstruction and Development. Like the International Monetary Fund, it was established in 1944 at Bretton Woods (USA) and has its headquarters in Washington. Both institutions now have more than 180 member countries. Switzerland has been a member since May 1992. The World Bank's primary mission is to fight poverty. In particular, it grants long-term investment loans to developing countries and finances long-term projects aimed at improving the economic and ecological standard of living of the population. Website: www.worldbank.org.
Industry:Banking
Booking orders issued by the individual members of WIR. WIR cheques are not cheques as defined under Swiss law. WIR booking orders are never paid out in cash, but instead entitle the bearer to acquire goods and services offered by WIR participants by way of exchange.
Industry:Banking
Term applied to the group of ten countries that concluded the General Arrangements to Borrow (1962). International credits are granted in conjunction with the International Monetary Fund (IMF). Switzerland became an associated member of the Club of Ten in 1964 and a full member in 1984.
Industry:Banking
Open outcry trading. French expression for a system of stock market trading where the stock exchange clerks read out the securities in the order they appear on the official quotation list while the dealers gather around the ring and call out the bid and ask prices for each security and make the prices paid known to the registering clerk. Opposite: electronic trading system.
Industry:Banking
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.
Industry:Banking
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.
Industry:Banking
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.
Industry:Banking
