Glossary

Updated 1 April 2019

This glossary offers definitions of technical terms commonly used in the BIS Quarterly Review.

The glossary is also available as a PDF file in Chinese, French, German, Italian and Spanish. Last update in April 2019.

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foreign exchange swap

Transaction involving the actual exchange of two currencies (principal amount only) on a specific date at a rate agreed at the time of the conclusion of the contract (the short leg), and a reverse exchange of the same two currencies at a date further in the future at a rate (generally different from the rate applied to the short leg) agreed at the time of the contract (the long leg).

Updated: 11 Dec 2016
A
adjusted change algo algorithmic trading amount outstanding
B
bank banking office banks and securities firms bilateral netting agreement BIS reporting area BIS reporting country BIS reporting institution branch break- and exchange rate-adjusted change broad debt
C
CBS-reporting country central bank central counterparty (CCP) claim commercial property price index (CPPI) commodity forward commodity option commodity swap compression consolidated banking statistics (CBS) consortium bank consumer price index (CPI) controlling parent core debt countercyclical capital buffer (CCyB) counterparty counterparty country country credit commitment credit default swap (CDS) credit derivative credit-to-GDP gap cross-border position currency option currency swap
D
daily average turnover debt instrument debt security debt service ratio (DSR) debt, core and broad derivative derivative claim domestic bank domestic claim domestic debt security (DDS)
E
effective exchange rate (EER) entity equity forward equity option equity swap eurobond exchange rate external position
F
face value financial asset financial corporation financial institution fixed interest rate foreign bank foreign bond foreign claim foreign exchange swap forward contract forward rate agreement (FRA)
G
general government gross credit exposure gross issuance gross market value guarantees extended guarantor basis
H
head office hedge fund Herfindahl index high-frequency trading (HFT) Hodrick-Prescott (HP) filter home country host country household
I
immediate counterparty basis immediate issuer index product institutional investor inter-office interbank interest rate option interest rate swap international banking facility (IBF) international claim international debt security (IDS) international organisation intragroup
J
Japan Offshore Market
L
LBS by nationality (LBSN) LBS by residence (LBSR) LBS-reporting country loans and deposits local currency local position locational banking statistics (LBS) long-term
M
market value master netting agreement monetary financial institutions multi-name CDS
N
nationality negotiable instrument net issuance net market value net risk transfer netting agreement nominal effective exchange rate (NEER) nominal value non-bank non-bank financial corporation non-bank financial institution non-bank private sector non-financial corporation non-financial customer non-financial private sector non-financial sector non-local currency non-profit institution serving households (NPISH) non-reporting bank notional amount outstanding novation
O
official financial institutions official monetary authority official sector open interest original maturity outright forward own office
P
parent bank parent country policy rate position private non-financial sector proprietary trading proprietary trading firm (PTF)
R
real effective exchange rate (REER) redemption remaining maturity reporting bank reporting country reporting dealer repurchase agreement (repo) residence residential property price index (RPPI) retail-driven transactions risk transfer
S
short-term single-name CDS special purpose entity (SPE) spot transaction stock subsidiary swap
T
total assets total debt securities (TDS) trustee business
U
ultimate issuer
V
vis-à-vis country
foreign exchange swap

Transaction involving the actual exchange of two currencies (principal amount only) on a specific date at a rate agreed at the time of the conclusion of the contract (the short leg), and a reverse exchange of the same two currencies at a date further in the future at a rate (generally different from the rate applied to the short leg) agreed at the time of the contract (the long leg).

Updated: 11 Dec 2016