• Chained euros

    Means to measure the volume growth and to remove the effect of price changes in the calculation of various economic aggregates (such as GDP, investment, household consumption...).

  • Compulsory tender

    Compulsory tender corresponds to the principle adopted by all central banks whereby they abolished the obligation to convert banknotes into gold. That principle, which seems natural enough today, was not always readily accepted by our forebears.

  • Constituency

    The International Monetary Fund is managed by a Managing Director and 24 Executive Directors. The latter represent one country or a constituency of several IMF member countries.

  • Consumer confidence

    The consumer confidence index is a concept which is used to try to predict private consumption on the basis of surveys. The questions in the European Commission survey are divided into five categories: (1) the financial situation of households; (2) the outlook for the financial situation of households; (3) the current general economic situation; (4) the outlook for the general economic situation; (5) the desirability of purchasing durable goods. The questions relate to a one-year period.

  • Consumer credit

    Consumer credit refers to a loan contracted by a natural person for private purposes and used for purchasing something other than real estate. It usually takes the form of an overdraft facility or credit line, instalment credit or hire-purchase.

  • Corporate governance

    Procedures and processes according to which an organisation is directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organisation and lays down the rules and procedures for decision-making.

  • Council of Ministers

    An institution of the European Community made up of representatives of the governments of the Member States. The Council meeting in the composition of the ministers of economy and finance is often referred to as the ECOFIN Council.

  • Counterparty

    The opposite party in a financial transaction (e.g. any party transacting with a central bank).

  • Credit allotment

    Procedure whereby the Eurosystem arranges for credit institutions in the euro area to compete (by tendering) to obtain liquidities.

  • Credit institution

    An undertaking whose business is to receive deposits and other repayable funds from the public and to grant credit for its own account. Banks and savings banks are credit institutions.

  • Credit risk

    The risk that a counterparty will not settle an obligation in full, either when due or at any time thereafter.