Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
| Payment systems |
| Set of instruments, procedures, etc. and in general, systems for transferring funds between banks aimed at facilitating the circulation of money. |
| Price stability |
| The maintenance of price stability is the primary objective of the Eurosystem. The Governing Council defines price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%. The Governing Council has also made it clear that, in the pursuit of price stability, it aims to maintain inflation rates below, but close to, 2% over the medium term. |
| Primary market |
| Market where new loans are issued. |
| Promissory note |
| The promissory note only differs from a bill of exchange in that it is issued in the form of a promise of payment made by the debtor instead of an order or payment order by the creditor. |
| Protest |
| Official statement by a bailiff of the non-payment of a commercial bill. At the request of the party who has presented the document for payment without success, the bailiff draws up a bill of protest inside two working days, which is communicated to the drawee. If he does not pay his debt (increased by the amount of the costs of the protest) before the tenth day of the following calendar month, the bill of protest is published at the registry of the court of commercial law. Since the publication of this bill of protest (and, consequently, its appearance on a "black list") compromises the creditworthiness of the drawee, the bill of protest is therefore an important means to ensure payment is made on time. |