Glossary

 

  • 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.