• Debt securities

    Debt securities represent a promise on the part of the issuer (i.e. the borrower) to make one or more payment(s) to the holder (the lender) at a specified future date or dates.

  • Deflation

    General and persistent decline in prices

  • Delors Report

    The Delors Report, presented in April 1989 by a group of experts comprising the governors of the national central banks, laid the foundations for the euro and defined the transition to EMU as a three-stage process. The provisions of the Maastricht Treaty are largely based on the ideas set out in that report.

  • Deposit and Consignment Office

    A government body, which is part of the Belgian Federal Public Service Finance. The Office receives and administers all deposits, security deposits and consignments that are imposed pursuant to judicial or administrative decisions or as a consequence of laws and regulations.

  • Deposit facility

    A standing facility of the Eurosystem which counterparties may use to make overnight deposits, remunerated at a pre-specified interest rate, at a national central bank.

  • Deposit facility rate

    This rate defines the interest banks receive for depositing money with the central bank overnight. It is one of the three interest rates the ECB sets every six weeks as part of its monetary policy.

  • Direct investment

    Cross-border investment that reflects the objective of obtaining a lasting interest in an entreprise resident in another economy.