TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, 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 1, English, - official%20rate%20of%20exchange

Record 1,  Textual support,  French

Record 1,  Textual support,  Spanish

Record number: 1, 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 1, Spanish, - tasa%20de%20cambio%20oficial

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 DEF

A form of international exchange in which monetary authorities make frequent small changes in the rate at which the nation's monetary unit officially trades with others.  6, record 2, English, - crawling%20peg

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 OBS

Régime dans lequel les parités de change sont susceptibles d'être révisées par une succession de modifications de faible amplitude.  4, record 2, French, - parit%C3%A9%20%C3%A0%20cr%C3%A9maill%C3%A8re

Record 2,  Textual support,  Spanish

Record number: 2, Textual support number: 1 OBS

paridad móvil; tipo de cambio móvil; ajuste gradual del tipo de cambio: La Fundación del Español Urgente (Fundéu BBVA), con el asesoramiento de la Real Academia Española, indica que "paridad móvil", "tipo de cambio móvil" o "ajuste gradual del tipo de cambio" son alternativas adecuadas en español para "crawling peg" [...]  3, record 2, Spanish, - v%C3%ADnculo%20m%C3%B3vil

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 CONT

The authorities anticipate that [the International Monetary] Fund support would also help restore confidence by signaling sustainable macroeconomic policies, and would help unlock critical financing from other multilateral institutions.  2, record 3, English, - critical%20financing

Record 3,  Textual support,  French

Record number: 3, Textual support number: 1 CONT

[…] le gouvernement […] tente d'aider les petites entreprises à accéder au financement essentiel à leur démarrage, à leur croissance et à leur compétitivité.  3, record 3, French, - financement%20essentiel

Record 3,  Textual support,  Spanish

Record number: 3, Textual support number: 1 CONT

Para los países en desarrollo, y especialmente para los PMD [países menos desarrollados], la ayuda oficial al desarrollo (AOD) es una fuente de financiación esencial para poder alcanzar los objetivos del milenio.  1, record 3, Spanish, - financiaci%C3%B3n%20esencial

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 CONT

Looking ahead, the IMF [International Monetary Fund] expects authorities to put greater weight on reducing financial sector vulnerabilities, stemming in particular from the housing market and the shadow banking sector. As a result, growth is expected to be 6. 8 per cent in 2015, in line with the revised official growth target of about 7 per cent for the year, and to slow further to 6. 3 per cent in 2016.  1, record 4, English, - growth%20target

Record 4,  Textual support,  French

Record number: 4, Textual support number: 1 CONT

Pour l'avenir, le FMI [Fonds monétaire international] s'attend à ce que les autorités accordent une plus grande importance à la réduction des facteurs de vulnérabilité du secteur financier, lesquels découlent en particulier du marché du logement et du secteur bancaire parallèle. Par conséquent, la croissance devrait être de 6,8 % en 2015, ce qui est généralement conforme à la cible de croissance officielle révisée d'environ 7 % pour l'année, et ralentir davantage à 6,3 % en 2016.  1, record 4, French, - cible%20de%20croissance

Record 4,  Textual support,  Spanish

Record 5,  Textual support,  English

Record number: 5, Textual support number: 1 CONT

Looking ahead, the IMF [International Monetary Fund] expects authorities to put a greater weight on reducing financial sector vulnerabilities, stemming in particular from the housing market and the shadow banking sector.  1, record 5, English, - financial%20sector%20vulnerability

Record 5,  Textual support,  French

Record number: 5, Textual support number: 1 CONT

Pour l'avenir, le FMI [Fonds monétaire international] s'attend à ce que les autorités accordent une plus grande importance à la réduction des facteurs de vulnérabilité du secteur financier, lesquels découlent en particulier du marché du logement et du secteur bancaire parallèle.  1, record 5, French, - vuln%C3%A9rabilit%C3%A9%20du%20secteur%20financier

Record 5,  Textual support,  Spanish

Record 6,  Textual support,  English

Record number: 6, Textual support number: 1 CONT

Since the Smithsonian agreement, the world has effectively been on a de facto dollar standard. Foreign monetary authorities hold their reserves in the form of dollars and settle their international debts with dollars.... The ultimate value of the dollar is given not by gold but by the amount of U. S. goods and services that dollars can be used to purchase.  1, record 6, English, - dollar%20standard

Record 6,  Textual support,  French

Record number: 6, Textual support number: 1 DEF

Système de paiements internationaux en vigueur depuis la décision américaine de rompre la convertibilité de sa monnaie en mars 1968.  1, record 6, French, - %C3%A9talon%20dollar

Record number: 6, Textual support number: 1 OBS

Dans ce nouveau système, le dollar des États-Unis est la monnaie la plus fréquemment utilisée dans les transactions internationales [...]  1, record 6, French, - %C3%A9talon%20dollar

Record 6,  Textual support,  Spanish

Record 7,  Textual support,  English

Record number: 7, Textual support number: 1 CONT

Traditionally, monetary authorities wish to target a monetary aggregate that has a predictable relationship with a nominal macroeconomic variable(such as the price level or nominal output) and that shows little responsiveness to changes in interest rates or movements in other economic variables.  3, record 7, English, - nominal%20macroeconomic%20variable

Record 7,  Textual support,  French

Record 7,  Textual support,  Spanish

Record 8,  Textual support,  English

Record number: 8, Textual support number: 1 CONT

The World Bank Groups (usually called "The World Bank") is the largest multilateral development institution in the World. Its overarching goal is to help its member developing countries reduce poverty. The primary method of achieving this goal is to make loans that support development projects to borrower governments. In addition to its lending program, the World Bank provides technical assistance to its borrowing members and conducts extensive research on development topics.  2, record 8, English, - multilateral%20institution

Record number: 8, Textual support number: 2 CONT

Camdessus noted that an IMF [International Monetary Fund] team was in Bangkok working with the authorities to further develop the package into a multiyear adjustment program that could be supported by IMF resources. He said he was in close touch with governments in the region and multilateral institutions to put together a supplementary financing package in support of the policy efforts of the Thai authorities.  3, record 8, English, - multilateral%20institution

Record 8,  Textual support,  French

Record number: 8, Textual support number: 1 CONT

Le Groupe de la Banque mondiale (appelé couramment «Banque mondiale» est la plus grande institution multilatérale de développement au monde. Son objectif fondamental est d'aider ses pays membres en développement à réduire la pauvreté. La principale méthode pour y arriver consiste à consentir des prêts à l'apui des projets de développement des gouvernements emprunteurs. Outre son programme de prêts, la Banque mondiale offre une assistance technique aux gouvernements emprunteurs et déploie un vaste programme de recherche sur des sujets liés au développement.  2, record 8, French, - institution%20multilat%C3%A9rale

Record 8,  Textual support,  Spanish

Record number: 8, Textual support number: 1 CONT

Camdessus señaló que funcionarios del FMI se encontraban en Bangkok trabajando con las autoridades para formular un programa de ajuste plurianual que pueda respaldarse con recursos de la institución. Afirmó que se mantiene en contacto directo con gobiernos de la región e instituciones multilaterales para diseñar un plan de financiamiento complementario que permita respaldar la iniciativa de las autoridades.  2, record 8, Spanish, - instituci%C3%B3n%20multilateral

Record 9,  Textual support,  English

Record number: 9, Textual support number: 1 CONT

This payments imbalance meant that the British monetary authorities had to dip heavily into their reserve holdings of gold and dollars.  2, record 9, English, - payments%20imbalance

Record 9,  Textual support,  French

Record number: 9, Textual support number: 1 CONT

En conséquence la balance des paiements britanniques était en déséquilibre; les autorités monétaires britanniques durent largement entamer leurs réserves d'or et de dollars.  2, record 9, French, - d%C3%A9s%C3%A9quilibre%20des%20paiements

Record 9,  Textual support,  Spanish

Record 10,  Textual support,  English

Record number: 10, Textual support number: 1 CONT

The guiding principle applied by the monetary authorities is to leave responsibility for co-ordinated action in relation to the changeover primarily with the market operators themselves, while being prepared to lend assistance where necessary.  2, record 10, English, - market%20operator

Record 10,  Textual support,  French

Record number: 10, Textual support number: 1 CONT

Le principe directeur appliqué par les autorités monétaires est de laisser essentiellement aux opérateurs de marché eux-mêmes la responsabilité de la coordination des actions relatives au passage à la monnaie unique, tout en étant prête à leur prêter assistance si nécessaire.  1, record 10, French, - op%C3%A9rateur%20de%20march%C3%A9

Record 10,  Textual support,  Spanish

Record 11,  Textual support,  English

Record number: 11, Textual support number: 1 DEF

The individuals who are responsible for formulating and implementing monetary policy ...  3, record 11, English, - monetary%20authorities

Record number: 11, Textual support number: 1 CONT

Under a currency board arrangement, the monetary authorities commit to trade foreign exchange for domestic currency on demand at a fixed rate of exchange.  4, record 11, English, - monetary%20authorities

Record 11,  Textual support,  French

Record number: 11, Textual support number: 1 DEF

Ensemble des organismes qui ont un rôle à jouer sur la politique monétaire d'un pays donné.  2, record 11, French, - autorit%C3%A9s%20mon%C3%A9taires

Record number: 11, Textual support number: 1 OBS

Source : Revue de la Banque du Canada, décembre 1989.  3, record 11, French, - autorit%C3%A9s%20mon%C3%A9taires

Record number: 11, Textual support number: 1 CONT

Dans les pays qui optent pour ce système, les autorités monétaires s'engagent à échanger à vue la monnaie nationale contre des devises à un taux fixe.  4, record 11, French, - autorit%C3%A9s%20mon%C3%A9taires

Record 11,  Textual support,  Spanish

Record number: 11, Textual support number: 1 CONT

En este último tipo de régimen, las autoridades monetarias se comprometen a proporcionar divisas a cambio de moneda nacional a la vista, y a un tipo de cambio fijo.  1, record 11, Spanish, - autoridades%20monetarias

Record 12,  Textual support,  English

Record number: 12, Textual support number: 1 DEF

Quantitative and qualitative control exercised by monetary authorities over the volume and nature of credit and over interest rates.  1, record 12, English, - credit%20control

Record number: 12, Textual support number: 1 OBS

credit control: term and text reproduced from The Encyclopedia of Banking and Finance, Tenth Edition (1993), by Glenn G. Munn, F.L. Garcia and Charles J. Woelfel, with the permission of the copyright holder, The McGraw-Hill Companies Inc. In no event shall McGraw-Hill have any liability to any party for special, incidental, tort, or consequential damages arising out of or in connection with the use of this material.  2, record 12, English, - credit%20control

Record 12,  Textual support,  French

Record number: 12, Textual support number: 1 CONT

Le contrôle de la distribution des crédits par les banques s'est développé en fonction d'objectifs multiples [...] Du fait de ces objectifs multiples et souvent difficiles à concilier, les moyens de contrôle du crédit se sont diversifiés: moyens globaux portant sur le volume du crédit, sur son prix; moyens sélectifs portant sur la réglementation et les interventions de la banque centrale.  2, record 12, French, - contr%C3%B4le%20du%20cr%C3%A9dit

Record 12,  Textual support,  Spanish

Record number: 12, Textual support number: 1 DEF

Actividad específica de las autoridades monetarias que consiste en fijar no sólo la naturaleza y el volumen del crédito, sino también los tipos de interés.  2, record 12, Spanish, - control%20del%20cr%C3%A9dito

Record 13,  Textual support,  English

Record number: 13, Textual support number: 1 DEF

A factor that intervenes in the formation of the monetary mass, however it is not controlled by the monetary authorities(for example, the quantity of money in public circulation, overseas sector, etc.).  1, record 13, English, - autonomous%20factor

Record number: 13, Textual support number: 1 OBS

autonomous factor: term and definition reproduced from the CAPITAL Business Dictionary with the permission of LID Editorial Empresarial.  2, record 13, English, - autonomous%20factor

Record 13,  Textual support,  French

Record number: 13, Textual support number: 1 DEF

Facteur qui intervient dans la formation de la masse monétaire mais dont le comportement est en principe indépendant de l'autorité monétaire, qui ne peut par conséquent, intervenir dans ces derniers (par exemple, la quantité d'espèces aux mains du public, le comportement du secteur extérieur, etc.).  1, record 13, French, - facteur%20autonome

Record number: 13, Textual support number: 1 OBS

facteur autonome : terme et définition extraits du CAPITAL Business Dictionary et reproduits avec l'autorisation de LID Editorial Empresarial.  2, record 13, French, - facteur%20autonome

Record 13,  Textual support,  Spanish

Record number: 13, Textual support number: 1 DEF

Factor que interviene en la formación de la masa monetaria pero cuyo comportamiento es en principio independiente de la autoridad monetaria, que no puede por tanto intervenir en ellos (por ejemplo, la cantidad de efectivo en manos del público, el comportamiento del sector exterior, etc.).  1, record 13, Spanish, - factor%20aut%C3%B3nomo

Record number: 13, Textual support number: 1 OBS

factor autónomo: término y definición extraídos del CAPITAL Business Dictionary con la autorización de LID Editorial Empresarial.  2, record 13, Spanish, - factor%20aut%C3%B3nomo

Record 14,  Textual support,  English

Record number: 14, Textual support number: 1 DEF

Placements issued by international development institutions and placed directly with central banks, monetary authorities, and governments.  1, record 14, English, - special%20placement

Record 14,  Textual support,  French

Record 14,  Textual support,  Spanish

Record 15,  Textual support,  English

Record number: 15, Textual support number: 1 DEF

Vehicles for country authorities to reach agreement with the World Bank and International Monetary Fund on the broad outline of medium-term programs to overcome balance of payments problems and foster growth. In their final form they are statements by governments of their objectives and policies over a rolling three-year period with annual updates and revisions.  1, record 15, English, - policy%20framework%20paper

Record 15,  Textual support,  French

Record 15,  Textual support,  Spanish

Record 16,  Textual support,  English

Record number: 16, Textual support number: 1 CONT

The tight monetary policy adopted by the U. S. authorities in the early 1980s and a shift in portfolios to dollar assets may also have helped to push the dollar up and widen the current account deficit, according to Golub.  1, record 16, English, - portfolio%20shift

Record 16,  Textual support,  French

Record number: 16, Textual support number: 1 CONT

Le resserrement de la politique monétaire amorcé au début de la décennie et la réorientation des portefeuilles vers les actifs en dollars ont sans doute aussi contribué au raffermissement de la devise américaine et à l'aggravation du déficit de la balance courante.  2, record 16, French, - modification%20du%20portefeuille

Record 16,  Textual support,  Spanish

Record 17,  Textual support,  English

Record number: 17, Textual support number: 1 CONT

Traditionally, theoretical literature on balance of payments crises stressed that weak economic fundamentals-such as excessively expansionary fiscal and monetary policies-resulted in a persistent loss of international reserves, ultimately forcing the authorities to abandon the fixed exchange rate parity. More recently, however, some economists have argued that the authorities may decide to abandon the parity for reasons other than a depletion of official international reserves.  2, record 17, English, - official%20international%20reserve

Record 17,  Textual support,  French

Record 17,  Textual support,  Spanish

Record number: 17, Textual support number: 1 CONT

Tradicionalmente, en la literatura teórica sobre las crisis de balanza de pagos se insistía en que cuando las variables fundamentales son poco sólidas - por ejemplo, una política fiscal y monetaria excesivamente expansionistas - se produce una pérdida persistente de reservas internacionales que obliga a las autoridades a abandonar tarde o temprano el régimen de paridad fija. Sin embargo, en estudios más recientes se sostiene que las autoridades pueden decidir abandonar esa paridad por otras razones, no sólo porque se agoten las reservas internacionales oficiales.  1, record 17, Spanish, - reserva%20internacional%20oficial

Record 18,  Textual support,  English

Record number: 18, Textual support number: 1 CONT

Economic fundamentals clearly favour a more substantial narrowing of Canada-U.S. interest rate differentials.  3, record 18, English, - economic%20fundamentals

Record number: 18, Textual support number: 2 CONT

Traditionally, theoretical literature on balance of payments crises stressed that weak economic fundamentals-such as excessively expansionary fiscal and monetary policies-resulted in a persistent loss of international reserves, ultimately forcing the authorities to abandon the fixed exchange rate parity.  2, record 18, English, - economic%20fundamentals

Record 18,  Textual support,  French

Record number: 18, Textual support number: 1 CONT

Les facteurs économiques fondamentaux jouent manifestement en faveur d'un rapprochement plus marqué des taux d'intérêt dans les deux pays.  1, record 18, French, - facteurs%20%C3%A9conomiques%20fondamentaux

Record 18,  Textual support,  Spanish

Record number: 18, Textual support number: 1 CONT

Tradicionalmente, en la literatura teórica sobre las crisis de balanza de pagos se insistía en que cuando las variables fundamentales son poco sólidas - por ejemplo, una política fiscal y monetaria excesivamente expansionistas - se produce una pérdida persistente de reservas internacionales que obliga a las autoridades a abandonar tarde o temprano el régimen de paridad fija.  1, record 18, Spanish, - variables%20fundamentales

Record 19,  Textual support,  English

Record number: 19, Textual support number: 1 CONT

Sterilised intervention means a change in the monetary authorities’ net foreign currency assets which is offset by a corresponding change in their net domestic currency assets, so that their monetary liabilities(or, specifically, the monetary base) remain unchanged.  1, record 19, English, - sterilised%20intervention

Record 19,  Textual support,  French

Record number: 19, Textual support number: 1 CONT

Les interventions stérilisées impliquent une modification des avoirs nets en devises des autorités monétaires qui est compensé par une modification correspondante de leurs avoirs nets en monnaie nationale, de façon que leurs engagements de caractère monétaire (ou, plus précisément, la base monétaire) ne s'en trouvent pas affectés.  2, record 19, French, - intervention%20st%C3%A9rilis%C3%A9e

Record 19,  Textual support,  Spanish

Record number: 19, Textual support number: 1 CONT

Además, los países disponen de otros tres instrumentos para abordar los posibles efectos de las importantes entradas de capital: intervención esterilizada, restricción fiscal y valorización del tipo de cambio.  1, record 19, Spanish, - intervenci%C3%B3n%20esterilizada

Record 20,  Textual support,  English

Record number: 20, Textual support number: 1 DEF

An emergency coin or bill, issued by authorities in a city or town surrounded by hostile forces, and thus cut off from the standard sources of monetary supply.  1, record 20, English, - siege%20piece

Record number: 20, Textual support number: 1 OBS

See related term: emergency money.  1, record 20, English, - siege%20piece

Record 20,  Textual support,  French

Record number: 20, Textual support number: 1 DEF

Pièce de monnaie ou billet de banque émis par les autorités dans une ville assiégée pour que se poursuivent les activités en l'absence de numéraire officiel.  1, record 20, French, - monnaie%20obsidionale

Record 20,  Textual support,  Spanish

Record 21,  Textual support,  English

Record number: 21, Textual support number: 1 CONT

In the wake of the recent EMS(European Monetary System) current turmoil... there have been urgent calls for the application of capital controls by the authorities of participating countries... [Guitián] argues that such policy action would be shortsighted and ultimately fertile.  1, record 21, English, - shortsighted%20policy

Record 21,  Textual support,  French

Record number: 21, Textual support number: 1 CONT

Des voix se sont élevées, au sein du SME (système monétaire européen), pour demander la mise en place d'un contrôle des mouvements de capitaux [...] M. Guitián estime que cette politique à courte vue s'avérerait très vite futile.  1, record 21, French, - politique%20%C3%A0%20courte%20vue

Record number: 21, Textual support number: 1 OBS

Politique qui manque de perspicacité de largeur de vue.  2, record 21, French, - politique%20%C3%A0%20courte%20vue

Record 21,  Textual support,  Spanish

Record 22,  Textual support,  English

Record number: 22, 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 22, English, - unsterilised%20intervention

Record 22,  Textual support,  French

Record number: 22, 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 22, French, - intervention%20non%20st%C3%A9rilis%C3%A9e

Record 22,  Textual support,  Spanish