TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 DEF

Foreign exchange market where currency is sold for immediate delivery.  4, record 1, English, - spot%20exchange%20market

Record number: 1, Textual support number: 1 CONT

The spot market is for foreign exchange delivered within 2 business days; the forward market is for foreign exchange to be delivered at some specified future date.  5, record 1, English, - spot%20exchange%20market

Record 1,  Textual support,  French

Record 1,  Textual support,  Spanish

Record number: 1, Textual support number: 1 CONT

El mercado de cambios al contado se refiere a las transacciones efectuadas de inmediato: son notas intercambiadas entre instituciones financieras.  1, record 1, Spanish, - mercado%20de%20cambios%20al%20contado

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 DEF

The replacement of an import by nationally produced goods.  3, record 2, English, - import%20substitution

Record number: 2, Textual support number: 1 OBS

A common policy where foreign exchange is very scarce and where importers have developed the local market.  4, record 2, English, - import%20substitution

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 DEF

Substitution des marchandises d'origine nationale aux marchandises importées.  4, record 2, French, - remplacement%20des%20importations

Record 2,  Textual support,  Spanish

Record number: 2, Textual support number: 1 DEF

Reemplazo de importaciones por productos de fabricación nacional.  2, record 2, Spanish, - sustituci%C3%B3n%20de%20importaciones

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 CONT

Budget 2007 updated the concept of "prescribed stock exchange, "used for a variety of purposes under the Income Tax Act, in order to make the prescription process more transparent and flexible to meet evolving market needs. In place of the two former lists of prescribed stock exchanges(domestic and foreign), there are now three categories of stock exchange : Designated Stock Exchange, Recognized Stock Exchange and Stock Exchange.  2, record 3, English, - prescribed%20stock%20exchange

Record 3,  Textual support,  French

Record number: 3, Textual support number: 1 CONT

Dans le budget de 2007, le gouvernement a actualisé le concept de «bourse de valeurs visée par règlement», qui était appliqué à diverses fins en vertu de la Loi de l'impôt sur le revenu, pour faire en sorte que le processus de prescription soit plus transparent et réponde aux besoins changeants des marchés. Trois catégories de bourses ont remplacé les deux anciennes listes de bourses de valeurs visées par règlement (canadiennes et étrangères) : il s'agit des bourses de valeurs désignées, des bourses de valeur reconnues et des bourses de valeurs.  1, record 3, French, - bourse%20de%20valeurs%20vis%C3%A9e%20par%20r%C3%A8glement

Record number: 3, Textual support number: 1 OBS

Source : Règlements de l'impôt sur le revenu, art. 3200; 3201.  1, record 3, French, - bourse%20de%20valeurs%20vis%C3%A9e%20par%20r%C3%A8glement

Record 3,  Textual support,  Spanish

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 DEF

Purchase or sale of foreign exchange securities carried out in a futures market.  4, record 4, English, - forward%20transaction

Record number: 4, Textual support number: 1 OBS

forward transaction: term and definition reproduced from the CAPITAL Business Dictionary with the permission of LID Editorial Empresarial.  5, record 4, English, - forward%20transaction

Record 4,  Textual support,  French

Record number: 4, Textual support number: 1 DEF

Opération d'achat ou de vente dans un marché de contrats à terme. L'opération peut porter sur des devises, des valeurs ou des matières premières.  2, record 4, French, - op%C3%A9ration%20%C3%A0%20terme

Record number: 4, Textual support number: 1 OBS

opération à terme : terme et définition extraits du CAPITAL Business Dictionary et reproduits avec l'autorisation de LID Editorial Empresarial.  3, record 4, French, - op%C3%A9ration%20%C3%A0%20terme

Record 4,  Textual support,  Spanish

Record number: 4, Textual support number: 1 DEF

Operación de compraventa en un mercado de futuros. La operación puede ser de divisas, valores, o materias primas.  4, record 4, Spanish, - operaci%C3%B3n%20a%20t%C3%A9rmino

Record number: 4, Textual support number: 1 OBS

operación a plazo: término y definición extraídos del CAPITAL Business Dictionary con la autorización de LID Editorial Empresarial.  5, record 4, Spanish, - operaci%C3%B3n%20a%20t%C3%A9rmino

Record 5,  Textual support,  English

Record number: 5, Textual support number: 1 DEF

The rate, established by the monetary authorities of a country, at which domestic currency may be exchanged for foreign currency. Where there are no currency controls, the official exchange rate is taken to be the market rate. The official exchange rate would always be used in financial analysis.  3, record 5, English, - official%20rate%20of%20exchange

Record 5,  Textual support,  French

Record 5,  Textual support,  Spanish

Record number: 5, Textual support number: 1 DEF

Tipo establecido por las autoridades monetarias de un país, al que se puede cambiar la moneda nacional por la extranjera. En aquellos casos en que no hay controles monetarios, se considera que el tipo de cambio oficial es la tasa de cambio. El tipo de cambio oficial se utilizaría siempre en el análisis financiero.  3, record 5, Spanish, - tasa%20de%20cambio%20oficial

Record 6,  Textual support,  English

Record number: 6, Textual support number: 1 DEF

The assets denominated in foreign currency, plus gold, held by a central bank, sometimes for the purpose of intervening in the exchange market to influence or peg the exchange rate.  2, record 6, English, - international%20reserve

Record number: 6, Textual support number: 1 OBS

international reserve: term usually used in the plural.  3, record 6, English, - international%20reserve

Record 6,  Textual support,  French

Record number: 6, Textual support number: 1 CONT

Les réserves internationales d'un pays se composent des [...] avoirs extérieurs qui sont à la disposition immédiate et sous le contrôle des autorités monétaires et qui leur permettent de financer directement les déséquilibres des paiements, de régulariser indirectement l'ampleur de ces déséquilibres au moyen d'interventions sur le marché des changes [...] et de parer à d'autres besoins[.]  2, record 6, French, - r%C3%A9serve%20internationale

Record number: 6, Textual support number: 1 OBS

réserve internationale : terme habituellement utilisé au pluriel.  3, record 6, French, - r%C3%A9serve%20internationale

Record 6,  Textual support,  Spanish

Record 7,  Textual support,  English

Record number: 7, Textual support number: 1 DEF

In the foreign exchange market, it is the margin between two currencies and applicable when the forward rate of one currency is cheaper and the discount is added to the spot rate. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995]  3, record 7, English, - discount

Record 7,  Textual support,  French

Record number: 7, Textual support number: 1 DEF

Différence entre le cours d'une devise sur le marché des changes et le prix de cette devise à terme, quand cette différence est négative. [...] «Il y a déport quand le prix du terme est inférieur au cours du comptant».  4, record 7, French, - d%C3%A9port

Record number: 7, Textual support number: 1 OBS

déport : terme normalisé par l'AFNOR.  5, record 7, French, - d%C3%A9port

Record 7,  Textual support,  Spanish

Record 8,  Textual support,  English

Record number: 8, Textual support number: 1 CONT

Greater competition, advanced information systems and exotic new securities have... led to increased speculation and excessive price volatility. Stocks, bonds and foreign exchange seem more susceptible to sudden and destabilizing shocks, and frequently trade at prices that appear inconsistent with market fundamentals.  2, record 8, English, - excessive%20price%20volatility

Record 8,  Textual support,  French

Record number: 8, Textual support number: 1 CONT

La faiblesse des institutions financières peut, elle aussi, constituer un facteur de volatilité excessive des prix du marché. Il arrive que la volatilité du prix des actifs soit suscitée par une expansion excessive du crédit bancaire.  2, record 8, French, - volatilit%C3%A9%20excessive%20des%20prix

Record 8,  Textual support,  Spanish

Record number: 8, Textual support number: 1 CONT

Uno de los puntos de la declaración final de la cumbre del G20 en Los Cabos (México, junio 2012) reconoce que "la volatilidad excesiva de los precios de las materias primas tiene consecuencias significativas para todos los países, al incrementar la incertidumbre de los actores económicos y al obstaculizar potencialmente la estabilidad presupuestal y la predictibilidad de la planeación económica".  1, record 8, Spanish, - volatilidad%20excesiva%20de%20los%20precios

Record 9,  Textual support,  English

Record number: 9, Textual support number: 1 DEF

... a convention whereby two units (general government or credit institutions) agree, at the request of one of them, to exchange the national currency of the unit requesting the swap for foreign currency at an agreed rate of exchange and at the same time of repayment for the reverse transaction to take place at a previously agreed rate of exchange.  7, record 9, English, - swap%20agreement

Record number: 9, Textual support number: 1 CONT

Swap arrangement... is designed to permit a central bank to intervene in the foreign exchange market so as to retard speculative pressures on its currency.  8, record 9, English, - swap%20agreement

Record number: 9, Textual support number: 2 CONT

The Bank of Canada and the Federal Reserve have agreed to extend their expanded US $30 billion swap facility (reciprocal currency arrangement) to 30 October 2009. This expanded swap facility, originally announced on 29 September 2008, was initially set to expire on 30 April 2009.  9, record 9, English, - swap%20agreement

Record number: 9, Textual support number: 3 CONT

A swap line is another term for a temporary reciprocal currency arrangement between central banks.  10, record 9, English, - swap%20agreement

Record 9,  Textual support,  French

Record number: 9, Textual support number: 1 DEF

[...] contrat par lequel deux parties conviennent d'échanger des flux financiers sur une certaine période et selon une formule préétablie.  7, record 9, French, - accord%20de%20swap

Record number: 9, Textual support number: 1 CONT

La SFI [Société Financière Internationale] accorde à la BISA [Banco Industrial S.A] des lignes de crédit réciproques.  6, record 9, French, - accord%20de%20swap

Record 9,  Textual support,  Spanish

Record number: 9, Textual support number: 1 OBS

Entre bancos centrales.  1, record 9, Spanish, - acuerdo%20de%20cr%C3%A9dito%20rec%C3%ADproco%20a%20corto%20plazo

Record 10,  Textual support,  English

Record number: 10, Textual support number: 1 CONT

Budget 2007 updated the concept of "prescribed stock exchange, "used for a variety of purposes under the Income Tax Act, in order to make the prescription process more transparent and flexible to meet evolving market needs. In place of the two former lists of prescribed stock exchanges(domestic and foreign), there are now three categories of stock exchange : designated stock exchange, recognized stock exchange and stock exchange.... Under the new system, securities listed on a designated stock exchange are eligible to be held in an RRSP [registered retirement savings plan] and a DPSP [deferred profit-sharing plan]. Designated stock exchanges include all prescribed exchanges as of December 13, 2007, and additional exchanges designated by the Minister of Finance by way of public notice since this date.  1, record 10, English, - designated%20stock%20exchange

Record 10,  Textual support,  French

Record number: 10, Textual support number: 1 CONT

Dans le budget de 2007, le gouvernement a actualisé le concept de «bourse de valeurs visée par règlement», qui était appliqué à diverses fins en vertu de la Loi de limpôt sur le revenu, pour faire en sorte que le processus de prescription soit plus transparent et réponde aux besoins changeants des marchés. Trois catégories de bourses ont remplacé les deux anciennes listes de bourses de valeurs visées par règlement (canadiennes et étrangères) : il s'agit des bourses de valeurs désignées, des bourses de valeurs reconnues et des bourses de valeurs. [...] Selon le nouveau système, les actions inscrites à la cote d'une bourse de valeurs désignée peuvent être détenues dans un REER [régime enregistré d'épargne-retraite] ou un RPDB [régime de participation différée aux bénéfices]. Les bourses de valeurs désignées comprennent toutes les bourses de valeurs visées par règlement au 13 décembre 2007, de même que les autres bourses de valeurs que le ministre des Finances aura désignées par voie d'un avis public après cette date.  1, record 10, French, - bourse%20de%20valeurs%20d%C3%A9sign%C3%A9e

Record 10,  Textual support,  Spanish

Record 11,  Textual support,  English

Record number: 11, Textual support number: 1 CONT

A trader, a merchant; a dealer in foreign exchange; on the Stock Exchange, or any other money or commodity market.  2, record 11, English, - dealer

Record 11,  Textual support,  French

Record 11,  Textual support,  Spanish

Record 12,  Textual support,  English

Record number: 12, Textual support number: 1 DEF

The area in a bank where bond, foreign exchange and money market operations are carried out.  3, record 12, English, - trading%20room

Record number: 12, Textual support number: 1 OBS

Compare "front office" with "back office".  4, record 12, English, - trading%20room

Record 12,  Textual support,  French

Record number: 12, Textual support number: 1 DEF

Dans un établissement financier, lieu où sont regroupés les opérateurs chargés d'initier et de négocier les opérations sur marchandises, titres ou autres instruments financiers sur les différents marchés pour le compte de l'établissement ou de la clientèle.  3, record 12, French, - salle%20des%20march%C3%A9s

Record number: 12, Textual support number: 1 OBS

L'emprunt «front office» est souvent utilisé en français.  3, record 12, French, - salle%20des%20march%C3%A9s

Record 12,  Textual support,  Spanish

Record number: 12, Textual support number: 1 DEF

Lugar específico escogido por los bancos para intermediar en servicios especiales (arbitraje, especulación, cambio, etc.) en mercados diferentes.  2, record 12, Spanish, - front%2Doffice

Record number: 12, Textual support number: 1 CONT

Es en la parte del "front-office" donde se contrata realmente la operación, en la que debe incorporarse la tecnología ("hardware" y "software") y en la que es importante poder proporcionar al "dealer" o arbitrajista la máxima información actualizada a fin de poder tomar decisiones acertadas y descubrir oportunidades.  1, record 12, Spanish, - front%2Doffice

Record number: 12, Textual support number: 2 CONT

La informatización cruzada de las Salas de Mercados tiende a sublimar la distinción entre "front-office" y "back-office".  1, record 12, Spanish, - front%2Doffice

Record number: 12, Textual support number: 1 OBS

A menudo "front-office" es utilizado como cuasi sinónimo del genérico sala de mercados.  2, record 12, Spanish, - front%2Doffice

Record 13,  Textual support,  English

Record number: 13, Textual support number: 1 DEF

Foreign exchange and money market term meaning "from tomorrow to the next business day". Spot foreign exchange deals are for value two days hence. A company may require value tomorrow. In this case the tom/next rate will have to be used to adjust the spot rate.  3, record 13, English, - tom%2Fnext

Record 13,  Textual support,  French

Record number: 13, Textual support number: 1 DEF

Qualifie les opérations boursières de mise à disposition des fonds le lendemain et de remboursement le jour ouvré suivant.  4, record 13, French, - %C3%A0%2024%20heures%20valeur%20lendemain

Record number: 13, Textual support number: 1 OBS

Les professionnels de la Bourse utilisent également l'abréviation «J+1, J+2».  3, record 13, French, - %C3%A0%2024%20heures%20valeur%20lendemain

Record 13,  Textual support,  Spanish

Record 14,  Textual support,  English

Record number: 14, Textual support number: 1 OBS

A survey of Statistics Canada, number 2703. This survey provides estimates of the number of passengers traveling on scheduled commercial flights between Canada and the United States by directional origin and destination. The data are used by Transport Canada and the Canadian Transportation Agency for evaluating competition in the industry, developing policies for the exchange of air services with foreign countries, for airport planning and market research. The information is also used by individual carriers for evaluating market trends, measuring their own growth and planning new services, as well as by Statistics Canada as input to the Provincial accounts.  1, record 14, English, - Air%20Passenger%20Origin%20and%20Destination%2C%20Canada%2DU%2ES%2EA%2E

Record 14,  Textual support,  French

Record number: 14, Textual support number: 1 OBS

Une enquête de Statistique Canada, numéro 2703. Cette enquête fournit des estimations sur le nombre de passagers aériens voyageant sur des vols commerciaux réguliers entre le Canada et les États-Unis suivant l'origine et la destination d'un voyage simple. Transports Canada et l'Office des transports du Canada utilisent ces données pour évaluer la concurrence au sein de l'industrie, pour élaborer des politiques sur l'échange de services aériens avec des pays étrangers, sur la planification touchant les aéroports et sur la recherche de marchés. Cette information est aussi utilisée par les transporteurs individuels pour évaluer les tendances du marché, mesurer leur propre croissance et planifier de nouveaux services, ainsi que par Statistique Canada comme entrées dans les comptes provinciaux.  1, record 14, French, - Origine%20et%20destination%20des%20passagers%20a%C3%A9riens%2C%20Canada%20%2D%20%C3%89tats%2DUnis

Record 14,  Textual support,  Spanish

Record 15,  Textual support,  English

Record number: 15, Textual support number: 1 OBS

A survey of Statistics Canada, number 2702. This survey provides estimates of the number of passengers traveling on scheduled domestic commercial flights by directional origin and destination. The data are used by Transport Canada and the Canadian Transportation Agency for evaluating competition in the industry, developing policies for the exchange of air services with foreign countries, for airport planning and market research. The information is also used by individual carriers for evaluating market trends, measuring their own growth and planning new services, as well as by Statistics Canada as input to the Provincial accounts.  1, record 15, English, - Air%20Passenger%20Origin%20and%20Destination%20%2D%20Domestic%20Journeys

Record 15,  Textual support,  French

Record number: 15, Textual support number: 1 OBS

Une enquête de Statistique Canada, numéro 2702. Enquête qui fournit des estimations sur le nombre de passagers aériens voyageant sur des vols commerciaux réguliers à l'intérieur du Canada suivant l'origine et la destination d'un voyage simple. Transports Canada et l'Office des transports du Canada utilisent ces données pour évaluer la concurrence au sein de l'industrie, pour élaborer des politiques sur l'échange de services aériens avec des pays étrangers, sur la planification touchant les aéroports et sur la recherche de marchés. Cette information est aussi utilisée par les transporteurs individuels pour évaluer les tendances du marché, mesurer leur propre croissance et planifier de nouveaux services, ainsi que par Statistique Canada comme entrées dans les comptes provinciaux.  1, record 15, French, - Origine%20et%20destination%20des%20passagers%20a%C3%A9riens%20%2D%20Voyages%20int%C3%A9rieurs

Record 15,  Textual support,  Spanish

Record 16,  Textual support,  English

Record number: 16, Textual support number: 1 CONT

Economic liberalization is based on the view that the free market, in combination with anti-inflationary policies, will spur economic development and raise living standards. It involves privatization of state-run enterprises(which invariably entails substantial job loss) ;removal(or lowering) of trade barriers; decontrol of financial flows; equal treatment of foreign investors; and the pegging of exchange rates to make exports globally competitive.  3, record 16, English, - economic%20liberalization

Record number: 16, Textual support number: 2 CONT

As countries proceed with economic liberalization, many areas of regulation are recognized as counterproductive and abandoned.  4, record 16, English, - economic%20liberalization

Record number: 16, Textual support number: 1 PHR

Proceed with economic liberalization.  4, record 16, English, - economic%20liberalization

Record 16,  Textual support,  French

Record number: 16, Textual support number: 1 CONT

Dans les années quatre-vingt-dix, pratiquement toutes les régions du monde ont connu une vague de libéralisation économique, qui a eu pour effet de renforcer le rôle déjà important joué par les entreprises dans le développement économique et social en général et la création d'emplois de valeur en particulier. [...] l'adoption de politiques et de programmes de déréglementation et de privatisation s'est traduite par une forte réduction de la participation de l'État.  3, record 16, French, - lib%C3%A9ralisation%20%C3%A9conomique

Record number: 16, Textual support number: 2 CONT

La libéralisation économique conduit souvent à abandonner de nombreux domaines de réglementation perçus comme nuisibles.  4, record 16, French, - lib%C3%A9ralisation%20%C3%A9conomique

Record 16,  Textual support,  Spanish

Record number: 16, Textual support number: 1 CONT

Conforme los países avanzan con la liberalización económica, se reconoce que muchos aspectos normativos son contraproducentes y obsoletos.  1, record 16, Spanish, - liberalizaci%C3%B3n%20econ%C3%B3mica

Record number: 16, Textual support number: 1 PHR

avanzar con la liberalización económica.  1, record 16, Spanish, - liberalizaci%C3%B3n%20econ%C3%B3mica

Record 17,  Textual support,  English

Record number: 17, Textual support number: 1 CONT

A working definition of capital account convertibility(CAC) is ‘the freedom to convert local financial assets into foreign financial assets and vice versa at market determined rates of exchange.  2, record 17, English, - capital%20account%20convertibility

Record 17,  Textual support,  French

Record number: 17, Textual support number: 1 CONT

Les années quatre-vingt et quatre-vingt-dix sont marquées par un processus d'ouverture financière internationale qui a d'abord touché les pays développés avant d'atteindre les économies dites émergentes. Considérant les gains d'efficience liés à cette intégration financière, le Fonds Monétaire International fait désormais de la convertibilité du compte de capital un objectif central de son action. Or, la multiplication des crises monétaire et bancaire depuis la fin des années quatre-vingt tend à remettre en cause le bien-fondé de cet objectif ultime de la mondialisation.  2, record 17, French, - convertibilit%C3%A9%20du%20compte%20de%20capital

Record 17,  Textual support,  Spanish

Record 18,  Textual support,  English

Record number: 18, Textual support number: 1 DEF

Currency used by central bank for official intervention in the foreign exchange market. This currency is often not the same as the home currency, which may not be a convertible currency.  2, record 18, English, - intervention%20currency

Record number: 18, Textual support number: 1 OBS

Intervention usually takes form of purchases and sales of foreign currency by the central bank or exchange equalization fund in domestic dealings with commercial banks.  3, record 18, English, - intervention%20currency

Record 18,  Textual support,  French

Record 18,  Textual support,  Spanish

Record 19,  Textual support,  English

Record number: 19, Textual support number: 1 OBS

Many of the issues that arose out of the Benchmark Study happen to be encountered through the broker medium. These issues were addressed by representatives of the Interdealer Brokers Association(IDBA) in conjunction with the CCFP [Canadian Committee for Professionalism]. The result was a set of best market practices(attached) for the wholesale brokered foreign exchange market. In addition to guidelines respecting, for example, confidentiality and professional standards, these best practices address the issue of branch to branch spot transactions consummated through a broker and also the setting of spot rates on forward transactions when dealing through a broker.  2, record 19, English, - Interdealer%20Brokers%20Association

Record 19,  Textual support,  French

Record number: 19, Textual support number: 1 OBS

Il se trouve qu'un grand nombre des problèmes décelés par l'enquête repère concernaient les intermédiaires entre courtiers. Ces problèmes ont été examinés par des représentants de l'Interdealer Brokers Association (IDBA), en collaboration avec le CCD [Comité du code de déontologie], et cet examen a donné lieu à l'élaboration d'un ensemble de pratiques exemplaires se rapportant aux opérations de gros effectuées sur le marché des changes par un intermédiaire entre courtiers. En plus de fournir des lignes directrices relatives, par exemple, à la confidentialité et aux normes de professionnalisme, ces pratiques exemplaires abordent la question des opérations au comptant de succursale à succursale exécutées par un intermédiaire entre courtiers, ainsi que la détermination des cours du change au comptant dans les opérations à terme effectuées par un intermédiaire entre courtiers.  2, record 19, French, - Interdealer%20Brokers%20Association

Record 19,  Textual support,  Spanish

Record 20,  Textual support,  English

Record number: 20, Textual support number: 1 DEF

Framework within which central bank foreign exchange experts(from each EU Member State, Canada, Japan, Norway, Switzerland and the United States) participating in the Concertation Group exchange information about market developments. The framework provides for regular daily telephone sessions and periodic meetings of central bank experts.  1, record 20, English, - concertation%20procedure

Record 20,  Textual support,  French

Record number: 20, Textual support number: 1 DEF

Cadre dans lequel les experts en matière de change des banques centrales (des pays membres de l'Union européenne, du Canada, du Japon, de la Norvège, de la Suisse, et des États-Unis) participant au Groupe de concertation échangent des informations sur l'évolution des marchés. Ce cadre prévoit des séances quotidiennes par téléphone et des réunions périodiques des experts des banques centrales.  1, record 20, French, - proc%C3%A9dure%20de%20concertation

Record 20,  Textual support,  Spanish

Record 21,  Textual support,  English

Record number: 21, Textual support number: 1 OBS

As with the foreign exchange market, OTC(over the counter) market participants have developed a master agreement applicable to swaps and other derivatives instruments-the International Swap Dealers Association(ISDA) Master Agreement.  4, record 21, English, - International%20Swaps%20and%20Derivatives%20Association%2C%20Inc%2E

Record number: 21, Textual support number: 2 OBS

Information confirmed by the organization.  5, record 21, English, - International%20Swaps%20and%20Derivatives%20Association%2C%20Inc%2E

Record 21,  Textual support,  French

Record number: 21, Textual support number: 1 OBS

Comme dans le cas des marchés des changes, les opérateurs sur les marchés de gré à gré ont mis au point un accord-cadre applicable aux contrats d'échange et aux autres instruments dérivés: l'Accord-cadre de l'International Swap Dealers Association (ISDA).  4, record 21, French, - International%20Swaps%20and%20Derivatives%20Association%2C%20Inc%2E

Record number: 21, Textual support number: 2 OBS

Information confirmée par l'organisme.  5, record 21, French, - International%20Swaps%20and%20Derivatives%20Association%2C%20Inc%2E

Record 21,  Textual support,  Spanish

Record 22,  Textual support,  English

Record number: 22, Textual support number: 1 OBS

The foreign currency operations of the chartered banks have grown rapidly and become exceedingly diverse. They include the maintenance of the foreign exchange market... the acceptance of foreign currency deposits and the lending of foreign currencies...  2, record 22, English, - foreign%20currency%20loan

Record 22,  Textual support,  French

Record number: 22, Textual support number: 1 DEF

Prêt à court terme en devises, consenti par une banque à une entreprise, pour le financement de marchés précisés.  3, record 22, French, - pr%C3%AAt%20en%20monnaie%20%C3%A9trang%C3%A8re

Record 22,  Textual support,  Spanish

Record 23,  Textual support,  English

Record number: 23, Textual support number: 1 DEF

Equal to the nominal or face value. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 23, English, - par

Record number: 23, Textual support number: 1 CONT

Government stocks are redeemable at par, but during the lifetime of that stock, the price could be above or below par. In the foreign exchange market, par is the current spot rate and any forward rate would be at a premium,... [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 23, English, - par

Record number: 23, Textual support number: 1 OBS

Used in the expressions "at par", "above par", "below par", "par value", etc.  3, record 23, English, - par

Record number: 23, Textual support number: 1 PHR

Margin above par; margin below par.  2, record 23, English, - par

Record 23,  Textual support,  French

Record number: 23, Textual support number: 1 DEF

Égalité susceptible d'exister entre la valeur nominale d'un titre et son prix de souscription ou d'émission, son prix de remboursement ou son cours.  2, record 23, French, - pair

Record number: 23, Textual support number: 1 PHR

Au pair, au-dessus du pair, au-dessous du pair, valeur au pair.  3, record 23, French, - pair

Record 23,  Textual support,  Spanish

Record 24,  Textual support,  English

Record number: 24, Textual support number: 1 DEF

... in the foreign exchange market it is when the forward rate is the same as the spot rate. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].  2, record 24, English, - at%20par

Record number: 24, Textual support number: 1 CONT

... if a stock sells on the market for its face value it is at par ...  3, record 24, English, - at%20par

Record number: 24, Textual support number: 2 CONT

The free convertibility of the peso at par with the US $ has boosted confidence and reduced inflation.  3, record 24, English, - at%20par

Record 24,  Textual support,  French

Record number: 24, Textual support number: 1 CONT

Une monnaie ou une action sont dites «au pair» lorsqu'on les achète à leur valeur officielle, c'est-à-dire - pour une action, à sa valeur nominale, - pour une monnaie, à sa parité.  2, record 24, French, - au%20pair

Record number: 24, Textual support number: 2 CONT

La libre convertibilité du peso au pair avec le dollar américain a engendré un regain de confiance et une baisse de l'inflation.  3, record 24, French, - au%20pair

Record number: 24, Textual support number: 1 OBS

Voir «pair».  4, record 24, French, - au%20pair

Record 24,  Textual support,  Spanish

Record number: 24, Textual support number: 1 DEF

Tratándose de monedas o efectos públicos o negociables, igualdad entre su valor nominal y el que tiene en el mercado.  2, record 24, Spanish, - a%20la%20par

Record 25,  Textual support,  English

Record number: 25, Textual support number: 1 CONT

... the Bank of Latvia began to set daily exchange rates for six additional foreign convertible currencies-the Czech koruna, Hungarian forint, Russian ruble, Moldova lev, Polish zloty and Slovak koruna. Once a week the Bank of Latvia also sets exchange rates of foreign non-convertible currencies. The exchange rate of foreign currencies against the lats fluctuated in line with the fluctuations of the exchange rates of SDR basket currencies in the global foreign exchange market...  1, record 25, English, - set%20exchange%20rates

Record 25,  Textual support,  French

Record 25,  Textual support,  Spanish

Record 26,  Textual support,  English

Record number: 26, Textual support number: 1 DEF

Exchange of debts for cash. This is done through the secondary market of bank claims where a country's debt can be sold for cash at a discount. Mainly used so far in Chile. Note that the actual Chilean process is called "adquisición de títulos de la deuda externa". In Ecuador they use the term "secretización" to describe the process of converting foreign debt into the Ecuadorian sucre.  1, record 26, English, - debt%2Dfor%2Dcash%20swap

Record 26,  Textual support,  French

Record 26,  Textual support,  Spanish

Record 27,  Textual support,  English

Record number: 27, Textual support number: 1 DEF

Issue by the central bank of a local currency debt obligation in exchange for a foreign debt claim. Domestic residents can thus buy their own country's debt in the secondary market, using expatriated capital or foreign currency acquired in the parallel market.  1, record 27, English, - debt%2Dfor%2Dlocal%20currency%20swap

Record 27,  Textual support,  French

Record 27,  Textual support,  Spanish

Record 28,  Textual support,  English

Record number: 28, Textual support number: 1 OBS

As with the foreign exchange market, OTC(over the counter) market participants have developed a master agreement applicable to swaps and other derivatives instruments-the International Swap Dealers Association(ISDA) Master Agreement.  1, record 28, English, - International%20Swap%20Dealers%20Association%20Master%20Agreement

Record 28,  Textual support,  French

Record number: 28, Textual support number: 1 OBS

Comme dans le cas des marchés des changes, les opérateurs sur les marchés de gré à gré ont mis au point un accord-cadre applicable aux contrats d'échange et aux autres instruments dérivés: l'Accord-cadre de l'International Swap Dealers Association (ISDA).  1, record 28, French, - Accord%2Dcadre%20de%20l%27International%20Swap%20Dealers%20Association

Record 28,  Textual support,  Spanish

Record 29,  Textual support,  English

Record number: 29, Textual support number: 1 CONT

[Bulgaria] has ended multiple currency practices, created an interbank foreign exchange market, and its reserves have increased dramatically.  1, record 29, English, - interbank%20foreign%20exchange%20market

Record 29,  Textual support,  French

Record number: 29, Textual support number: 1 CONT

Les pratiques de taux de change multiples ont été abandonnées, un marché des changes interbancaire a été créé et les réserves de la Bulgarie se sont considérablement accrues.  1, record 29, French, - march%C3%A9%20de%20changes%20interbancaire

Record 29,  Textual support,  Spanish

Record 30,  Textual support,  English

Record number: 30, Textual support number: 1 CONT

While there is no definite correlation between performance and size, it is agreed that it does take more skill to manage a large fund than a small one, Forbes’ 1983 rating of mutual funds includes stock funds, foreign investment funds, balanced funds, bond and preferred stock funds, dual-purpose funds, exchange funds, money market funds, and municipal bond funds.  4, record 30, English, - preferred%20stock%20fund

Record 30,  Textual support,  French

Record 30,  Textual support,  Spanish

Record 31,  Textual support,  English

Record number: 31, Textual support number: 1 CONT

Thus the total transaction cost for the betting strategy proposed, which involves a purchase or sale of foreign exchange at the forward exchange rate and a subsequent sale or purchase of foreign exchange in the spot market at the time the contract matures, is one half of the forward rate spread plus one half of the pertinent spot rate spread.  2, record 31, English, - forward%20rate%20spread

Record 31,  Textual support,  French

Record number: 31, Textual support number: 1 CONT

Par conséquent, le coût total des transactions pour la stratégie de pari proposée, qui comporte un achat ou une vente de devises au cours du terme et par la suite, à l'échéance du contrat, une vente ou un achat de devises sur le marché du comptant, est égal à la moitié de l'écart entre les cours du terme, plus la moitié de l'écart entre les cours pertinents du comptant.  3, record 31, French, - %C3%A9cart%20entre%20les%20cours%20du%20terme

Record 31,  Textual support,  Spanish

Record 32,  Textual support,  English

Record number: 32, Textual support number: 1 CONT

Zambia was facing chronic shortages of foreign exchange and essential imported inputs, a proliferation of black market activities...  1, record 32, English, - imported%20input

Record 32,  Textual support,  French

Record number: 32, Textual support number: 1 CONT

la Zambie s'est trouvée en proie à des pénuries chroniques de devises et d'intrants importés essentiels, lesquelles ont été aggravées par l'expansion du marché noir (...)  1, record 32, French, - intrant%20import%C3%A9

Record 32,  Textual support,  Spanish

Record 33,  Textual support,  English

Record number: 33, Textual support number: 1 CONT

Thus the total transaction cost for the betting strategy proposed, which involves a purchase or sale of foreign exchange at the forward exchange rate and subsequent sale or purchase of foreign exchange in the spot market at the time the contract matures, is one half of the forward rate spread plus one half of the pertinent spot rate spread.  2, record 33, English, - spot%20rate%20spread

Record 33,  Textual support,  French

Record number: 33, Textual support number: 1 CONT

Par conséquent, le coût total des transactions pour la stratégie de pari proposée, qui comporte un achat ou une vente de devises au cours du terme et par la suite, à l'échéance du contrat, une vente ou un achat de devises sur le marché du comptant, est égal à la moitié de l'écart entre les cours du terme, plus la moitié de l'écart entre les cours pertinents du comptant.  2, record 33, French, - %C3%A9cart%20entre%20les%20cours%20du%20comptant

Record 33,  Textual support,  Spanish

Record 34,  Textual support,  English

Record number: 34, Textual support number: 1 OBS

Through the Royal [Bank] 's PC CashCommand and PC Payroll services, treasurers can now access their company's financial information from our system using microcomputers located in their offices.... Services available via PC include consolidated account information, funds transfers, money market and foreign exchange information, electronic letters of credit and remote payroll entry.  1, record 34, English, - CashCommand

Record 34,  Textual support,  French

Record number: 34, Textual support number: 1 OBS

Les services de TéléTrésorerie et de paie sur micro-ordinateur de la Banque Royale permettent désormais aux trésoriers d'accéder directement, par un micro-ordinateur installé dans leur bureau, aux données financières que contient le système de la Banque sur leur entreprise. Les services offerts sur micro-ordinateur comprennent les consolidations de compte, les transferts de fonds, les renseignements sur les marchés monétaires et les marchés des changes, les lettres de crédits électroniques, l'entrée des écritures de paie.  1, record 34, French, - T%C3%A9l%C3%A9Tr%C3%A9sorerie

Record 34,  Textual support,  Spanish

Record 35,  Textual support,  English

Record number: 35, Textual support number: 1 OBS

Convertibility : the ability of owners of one currency to exchange it for other foreign currencies(or gold) in the open market. Some countries permit a portion of their currencies to be convertible and will designate accounts that way.(From the Comptroller's Handbook of Mercantile Bank).  1, record 35, English, - convertible%20account

Record number: 35, Textual support number: 2 OBS

Information provided by the National Bank of Canada.  1, record 35, English, - convertible%20account

Record 35,  Textual support,  French

Record number: 35, Textual support number: 1 CONT

La part du pays d'origine est divisée en douze mensualités et une prime de fin d'année. Elle est versée en monnaie locale sur un compte convertible.  1, record 35, French, - compte%20convertible

Record 35,  Textual support,  Spanish

Record 36,  Textual support,  English

Record number: 36, Textual support number: 1 CONT

"Grey Marketing" is a relatively new phenomenon in the global marketplace. Also known as a parallel trader or international discounter, a grey marketeer is a company or broker that buys surplus brand name goods from distributors in foreign countries where prices are lower, and then sells them in countries where demand is strong and prices are higher, often reaping foreign exchange benefits in the process. Goods imported in this way are generally sold outside normal distribution networks through unauthorized dealers and at prices which undercut the standard pricing structure in that market.  1, record 36, English, - grey%20marketing

Record 36,  Textual support,  French

Record number: 36, Textual support number: 1 OBS

Renseignement donné par le ministère des Affaires extérieures.  1, record 36, French, - pratique%20des%20op%C3%A9rations%20parall%C3%A8les

Record 36,  Textual support,  Spanish

Record 37,  Textual support,  English

Record number: 37, Textual support number: 1 CONT

"Grey Marketing" is a relatively new phenomenon in the global marketplace. Also known as a parallel trader or international discounter, a grey marketeer is a company or broker that buys surplus brand name goods from distributors in foreign countries where prices are lower, and then sells them in countries where demand is strong and prices are higher, often reaping foreign exchange benefits in the process. Goods imported in this way are generally sold outside normal distribution networks through unauthorized dealers and at prices which undercut the standard pricing structure in that market.  1, record 37, English, - grey%20marketeer

Record 37,  Textual support,  French

Record number: 37, Textual support number: 1 OBS

Renseignement donné par le ministère des Affaires extérieures.  1, record 37, French, - op%C3%A9rateur%20sur%20le%20march%C3%A9%20parall%C3%A8le

Record 37,  Textual support,  Spanish

Record 38,  Textual support,  English

Record number: 38, Textual support number: 1 CONT

An even broader definition of intervention would include all the exchange market transactions carried out by other entities(banks, public or private corporations) which may be considered to be directed by the government or the central bank. This is the case when borrowing that would not otherwise have been undertaken in foreign currency takes place and the proceeds are converted in the market. However, this criterion may raise very difficult questions of intent when one tries to determine which foreign currency borrowings should count as intervention.  1, record 38, English, - foreign%20currency%20borrowing

Record 38,  Textual support,  French

Record number: 38, Textual support number: 1 CONT

Une définition encore plus large des interventions comprendrait toutes les transactions sur le marché des changes effectuées par d'autres organismes (banques, entreprises des secteurs public ou privé) et qui peuvent être considérées comme faites à l'incitation du gouvernement ou de la banque centrale. C'est le cas lorsque des emprunts, qui n'auraient pas été sans cela lancés en devises étrangères, sont faits et que leur produit est converti sur le marché. Toutefois, l'application de ce critère risque de soulever des problèmes très délicats d'appréciation des intentions lorsqu'il s'agit de déterminer lesquels des emprunts en devises doivent être considérés comme des interventions.  1, record 38, French, - emprunt%20en%20devises

Record 38,  Textual support,  Spanish

Record 39,  Textual support,  English

Record number: 39, Textual support number: 1 CONT

In order to isolate the direct effects of intervention operations on the exchange market from those of monetary policy operations, the Working Group considered the distinction between sterilised and unsterilised intervention... If, on the other hand, the change in the authorities’ net foreign currency assets is accompanied by a corresponding change in their monetary liabilities(so that, for instance, a reduction in foreign currency reserves would result in a reduction in the monetary base), the intervention is said to be unsterilised.  1, record 39, English, - unsterilised%20intervention

Record 39,  Textual support,  French

Record number: 39, Textual support number: 1 CONT

Afin d'isoler les effets directs des interventions sur le marché des changes, de ceux produits par les actions de politique monétaire, le groupe de travail a examiné la distinction entre interventions stérilisées et non stérilisées. (...) Si, au contraire, la modification des avoirs nets en devises s'accompagne d'une modification correspondante des engagements de caractère monétaire des autorités monétaires (par exemple, une diminution des réserves de change se traduisant par une diminution de la base monétaire), on dit que l'intervention est «non stérilisée».  1, record 39, French, - intervention%20non%20st%C3%A9rilis%C3%A9e

Record 39,  Textual support,  Spanish

Record 40,  Textual support,  English

Record number: 40, Textual support number: 1 CONT

Bank traders deftly capitalized on the rising market values that came with generally-declining interest rates, as well as on the hour-by-hour fluctuations that prevailed in world foreign exchange markets.  1, record 40, English, - bank%20trader

Record 40,  Textual support,  French

Record number: 40, Textual support number: 1 CONT

Les cambistes de la Banque ont su tirer un excellent parti de la hausse des marchés provoquée par la baisse générale des taux d'intérêt, ainsi que des fluctuations que subissaient, d'heure en heure, les marchés des changes mondiaux.  1, record 40, French, - cambiste%20de%20banque

Record 40,  Textual support,  Spanish

Record 41,  Textual support,  English

Record number: 41, Textual support number: 1 OBS

An earlier version of this study was presented to the Working Group on Exchange Market Intervention established at the Versailles Summit of Heads of State and Government in June 1982. The Group was charged to look into the effectiveness and advisability of official intervention in foreign exchange markets as a tool of economic policy.  1, record 41, English, - Working%20Group%20on%20Exchange%20Market%20Intervention

Record 41,  Textual support,  French

Record number: 41, Textual support number: 1 OBS

Une version antérieure de la présente étude a été soumise au Groupe de travail sur les interventions sur les marchés des changes, qui a été constitué au Sommet des chefs d'État et de gouvernement réunis à Versailles en juin 1982. Le Groupe avait été chargé d'étudier si l'intervention officielle sur les marchés des changes était un instrument de politique économique efficace et désirable.  1, record 41, French, - Groupe%20de%20travail%20sur%20les%20interventions%20sur%20les%20march%C3%A9s%20des%20changes

Record 41,  Textual support,  Spanish