Glossary

Updated 23 September 2018

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

The glossary is also available as a PDF file in ChineseFrench, German, Italian and Spanish.

face value

Amount to be paid to the holder of a debt security at maturity. Before maturity, the market value of a debt security may be greater or lower than its face value, depending on the interest rate payable and the perceived risk of default. As debt securities approach maturity, their market value approaches face value. At maturity, the market value is equal to the face value. Also known as "par value".

Updated: 21 Aug 2018
face value

Amount to be paid to the holder of a debt security at maturity. Before maturity, the market value of a debt security may be greater or lower than its face value, depending on the interest rate payable and the perceived risk of default. As debt securities approach maturity, their market value approaches face value. At maturity, the market value is equal to the face value. Also known as "par value".

Updated: 21 Aug 2018