• Real interest rate

    Yield on a claim (e.g. a bond) after deduction of the loss of purchasing power suffered due to inflation.

  • Registration by name

    Entry in a special register (‘Ledger’), with the creditor’s identity and the amount of his debt.

  • Repurchase agreement

    An agreement to sell an asset and to repurchase it at a specified price on a predetermined future date or on demand. Such an agreement is similar to collateralised borrowing, although it differs in that the seller does not retain ownership of the assets. Sale and repurchase agreements are also termed repo transactions and are traded on the repo market.

  • Reserve base

    The sum of the balance sheet items (in particular liabilities) which constitute the basis for calculating the reserve requirement of a credit institution.

  • Reserve ratio

    A ratio defined by the central bank for each category of balance sheet items included in the reserve base. The ratios are used to calculate reserve requirements.