Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

procyclicality

The changes in risk management requirements or practices that are positively correlated with business or credit cycle fluctuations and that may cause or exacerbate financial instability.

Updated: 16 Apr 2012

Source documents

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unwind
procyclicality

The changes in risk management requirements or practices that are positively correlated with business or credit cycle fluctuations and that may cause or exacerbate financial instability.

Updated: 16 Apr 2012

Source documents

 Additional terms that are not included in the main glossary can be found in the previous version of the glossary.