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European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) is an agency of the European Union located in Paris. ESMA replaced the Committee of European Securities Regulators (CESR) on 1 January 2011. It is one of three European Supervisory Authorities set up within the European System of Financial Supervision in Paris, together with the European Banking Authority (EBA) also in Paris and the Eu
Securities & exchangesEvent-driven investing
Event-driven investing or Event-driven trading is a broad term encompassing hedge fund investment strategies that seeks to exploit pricing inefficiencies that may occur before or after an event. Examples of such events could be an earnings call, bankruptcy, merger, acquisition, or spinoff. In more recent times market practitioners have expanded this definition to include additional event
Fiat currenciesEverything bubble
The "everything bubble" refers to the impact on the values of asset prices, including equities, real estate, bonds, many commodities, and cryptocurrencies, due to quantitative easing by the Federal Reserve, European Central Bank, and the Bank of Japan. The policy itself and the techniques of direct and indirect methods of quantitative easing used to execute it are sometimes referred to a
Fiat currenciesExchange rate regime
An exchange rate regime is a way a monetary authority of a country or currency union manages the currency about other currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors, such as economic scale and openness, inflation rate, the elasticity of the labor market, financial market development, and
Trading basicsExchange-traded note
An exchange-traded note (ETN) is a senior, unsecured, unsubordinated debt security issued by an underwriting bank or by a special-purpose entity. Similar to other debt securities, ETNs may have a maturity date and are backed by the credit of the issuer, though some ETNs may have a portfolio of assets given as a collateral.
Trading basicsExpedited Funds Availability Act
The Expedited Funds Availability Act (EFA or EFAA) was enacted in 1987 by the United States Congress for the purpose of standardizing hold periods on deposits made to commercial banks and to regulate institutions' use of deposit holds. It is also referred to as Regulation CC or Reg CC, after the Federal Reserve regulation that implements the act. The law is codified in Title 12, Chapter
BankingExposure at default
Exposure at default (EAD) is a parameter used in the calculation of economic capital or regulatory capital under Basel II for a banking institution. It can be defined as the gross exposure under a facility upon default of an obligor.
Trading basicsEZ-Link
The EZ-Link card is a rechargeable contactless smart card and electronic money system that is primarily used as a payment method for public transport such as bus and rail lines in Singapore. A standard EZ-Link card is a credit-card sized stored-value contact-less smart-card that comes in a variety of colours, as well as limited edition designs. It is sold by SimplyGo Pte Ltd, a merged en
Payments & settlementFaster Payment System (Hong Kong)
Faster Payment System (FPS; Chinese: 快速支付系統, more commonly known as 轉數快) is a real-time gross settlement payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators. Users are able to perform instant money transfer or make payment to merchants by using the recipient's phone number, e-mail or QR code that contains the user's numeric iden
Trading basicsFaster Payment System (Russia)
The Faster Payments System (FPS; Russian: Система быстрых платежей, acronym СБП) is a system operated by the Bank of Russia that enables individuals to transfer funds using an identifier (currently a mobile phone number) between accounts in different credit institutions. The FPS also supports instant 24/7 payments for work, goods, and services, including transactions made via QR code. In
Payments & settlementFaster Payment System (United Kingdom)
The Faster Payment System (FPS) is a United Kingdom real-time gross settlement system which facilitates transfers between different banks' customer accounts within a few seconds. The system offers faster settlement times than the long-established BACS and CHAPS systems. FPS processes a large volume of small payments, subject to limits set by the individual banks, with some allowing Faste
BankingFederal funds rate
The federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds
Trading basicsFederal takeover of Fannie Mae and Freddie Mac
In September 2008, the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subp
AssetsFilecoin
Filecoin (⨎) is a cryptocurrency intended to be a blockchain-based cooperative digital storage and data retrieval method. It was developed by Protocol Labs and shares some ideas from InterPlanetary File System allowing users to rent unused hard drive space. Filecoin is an open protocol and uses a blockchain to record participation in the network. Transactions are made using the blockchai
BankingFils (currency)
The fils (Arabic: فلس) is a subdivision of currency used in some Arab countries, such as, in modern times, Iraq and Bahrain. The term is a modern retranscription of fals, an early medieval Arab copper coin first produced by the Umayyad Caliphate (661–750) beginning in the late 7th century and used throughout the region under its rule.
Trading basicsFinance
Finance refers to the management, movement, investment, and raising of money.
FinanceFinance Committee (Israel)
The Finance Committee (Hebrew: ועדת הכספים) is a permanent Knesset committee which oversees finance issues of the State of Israel, including the drafting of legislation, supervision over related government ministries and the approval of their budgets. It is regarded as one of two most important Knesset committees (the other being the Foreign Affairs and Defense Committee). Article 100(2)
FinanceFinance Watch
Finance Watch is an independent European non-profit association that conducts research and advocacy on financial regulation. Finance Watch develops a public interest vision for financial reform and interacts with policymakers to bring about change. Based in Brussels, the organization focuses on financial regulation in the European Union.
Fiat currenciesFinancial centre
A financial centre (financial center in American English) or financial hub is a location with a significant concentration of commerce in financial services.
BankingFinancial Consumer Agency of Canada
The Financial Consumer Agency of Canada (French: Agence de la consommation en matière financière du Canada, FCAC) is an agency of the Government of Canada that enforces consumer protection legislation, regulations and industry commitments by federally regulated financial entities. It also provides programs and information to help consumers understand their rights and responsibilities whe
FinanceFinancial contagion
Financial contagion refers to "the spread of market disturbances—mostly on the downside—from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows". Financial contagion can be a potential risk for countries who are trying to integrate their financial system with international financial markets and instituti
Trading basicsFinancial crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. A broader reduction of economic activity affecting the whole economy is known as an economic crisis. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Ot
BankingFinancial inclusion
Financial inclusion is the availability and equality of opportunities to access financial services. It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which include banking, loan, equity, and insurance products. It provides paths to enhance inclusiveness in economic growth by enabling the unbanked po
Securities & exchangesFinancial innovation
Financial innovation is the act of creating new financial instruments as well as new financial technologies, institutions, and markets. Recent financial innovations include hedge funds, private equity, weather derivatives, retail-structured products, exchange-traded funds, multi-family offices, and Islamic bonds (Sukuk). The shadow banking system has spawned an array of financial innovat
FinanceFinancial instrument
A financial instrument is a monetary contract between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership interest in an entity or a contractual right to receive or deliver in the form of currency (forex); debt (bonds, loans); equity (shares); or derivatives (options, futures, forwards).
FinanceFinancial law
Financial law is the law and regulation of the commercial banking, capital markets, insurance, derivatives and investment management sectors. Understanding financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
FinanceFinancial market impact of the COVID-19 pandemic
Economic turmoil associated with the COVID-19 pandemic has had wide-ranging and severe impacts upon financial markets, including stock, bond, and commodity (including crude oil and gold) markets. Major events included a described Russia–Saudi Arabia oil price war, which after failing to reach an OPEC+ agreement resulted in a collapse of crude oil prices and a stock market crash in March
Payments & settlementFinancial market infrastructure
Financial market infrastructure refers to systems and entities involved in clearing, settlement, and the recording of payments, securities, derivatives, and other financial transactions. Depending on context, financial market infrastructure may refer to the category in general, or to individual companies or entities (thus also used in plural: financial market infrastructures).
FinanceFinancial market participants
There are two basic financial market participant distinctions, investors versus speculators and institutional versus retail. Action in financial markets by central banks is usually regarded as intervention rather than participation.
FinanceFinancial planner
A financial planner or personal financial planner is a qualified financial advisor. Practicing in full service personal finance, they advise clients on investments, insurance, tax, retirement and estate planning.
FinanceFinancial regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those tha
Fiat currenciesFinancial repression
Financial repression refers to government implementation of policies to channel domestic funds to the public sector that in a deregulated market environment would go elsewhere. These policies are used to reduce the government's debt-to-GDP ratio.
FinanceFinancial Revolution
The Financial Revolution was a set of economic and financial reforms in Great Britain after the Glorious Revolution in 1688 when William III invaded England. The reforms were based in part on Dutch economic and financial innovations that were brought to England by William III. New institutions were created: a public debt (first government bonds were issued in 1693) and the Bank of Englan
FinanceFinancial risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent.
FinanceFinancial services
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.
Securities & exchangesFinancial Services Commission of Belize
The Financial Services Commission (FSC) is the Belize government agency responsible for non-banking financial regulation. It is responsible for regulating all non-banking financial market participants and setting and enforcing of financial regulations. A number of international online forex brokers obtain their international license from FSC.
FinanceFinancial services in China
Financial services in China refers to the services provided in China by the finance industry: banks, investment banks, insurance companies, credit card companies, consumer finance companies, government sponsored enterprises, and stock brokerages.
FinanceFinancial Stability Board
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF). The Board includes all G20 major economies, FSF members, and the European Commission. Hosted and funded by the Bank for International Settlements,
FinanceFinancial Stability Forum
The Financial Stability Forum (FSF) was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. It was first convened in April 1999 in Washington. At the 2009 G20 London summit, the G20 nations established a successor to the FSF, called the Financial Stability Board with an expanded membership and broaden
Trading basicsFinancial Stability Oversight Council
The Financial Stability Oversight Council (FSOC) is a United States federal government organization, established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Barack Obama on July 21, 2010. The Office of Financial Research is intended to provide support to the council.
FinanceFinancial supervisory authority
A financial regulatory authority or financial supervisory authority, alternatively financial regulator or financial supervisor, is a public authority whose role is to ensure the proper implementation of financial regulation within its scope of responsibility. Some, though not all, such authorities also set financial rules of their own.
BankingFinancial system
A financial system is a system that allows the exchange of funds between financial market participants such as lenders, investors, and borrowers. Financial systems operate at national and global levels. Financial institutions consist of complex, closely related services, markets, and institutions intended to provide an efficient and regular linkage between investors and borrowers.
FinanceFinancial technology
Financial technology (abbreviated as fintech) refers to the application of new technologies to products and services in the financial industry. This broad term encompasses a wide array of technological tools in financial services, including mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as cryptocurrencies. Financi
Payments & settlementFinancial transaction
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A financial transaction always involves one or more financial asset, most commonly money or another valuable item such as gold or silver.
AssetsFiro (cryptocurrency)
Firo, formerly known as Zcoin, is a cryptocurrency aimed at using cryptography to provide better privacy for its users compared to other cryptocurrencies such as Bitcoin.
FinanceFixed income arbitrage
Fixed-income arbitrage is a group of market-neutral-investment strategies that are designed to take advantage of differences in interest rates between varying fixed-income securities or contracts (Jefferson, 2007). Arbitrage in terms of investment strategy, involves buying securities on one market for immediate resale on another market in order to profit from a price discrepancy.
Trading basicsFixed-income relative-value investing
Fixed-Income Relative-Value Investing (FI-RV) is a hedge fund investment strategy made popular by the failed hedge fund Long-Term Capital Management.
FinanceFlash crash
In modern finance, a flash crash is a very rapid, deep, and volatile fall in security prices occurring within a very short time period followed by a quick recovery. Flash crashes are frequently blamed by media on trades executed by black-box trading, combined with high-frequency trading, whose speed and interconnectedness can result in the loss and recovery of billions of dollars in a ma
FinanceFlat rate (finance)
In accounting and finance, flat interest rate mortgages and loans calculate interest based on the amount of money a borrower receives at the beginning of the loan. However, if repayment is scheduled to occur at regular intervals throughout the term, the average amount to which the borrower has access is lower and so the effective or true rate of interest is higher. Only if the principa
Trading basicsFobaproa
Fobaproa (from the Spanish: Fondo Bancario de Protección al Ahorro, lit. 'Savings Protection Banking Fund') was a contingencies fund created in 1990 by the Mexican government, led by then dominant Institutional Revolutionary Party (PRI), to attempt to resolve liquidity problems of the banking system. The contingencies fund was applied in 1995 during the Mexican peso crisis to protect Mex
Trading basicsFondo Interbancario di Tutela dei Depositi
The Fondo Interbancario di Tutela dei Depositi (FITD; English: Interbank Deposit Protection Fund) is an Italian deposit guarantee fund founded in 1987. The fund became a mandatory scheme under the EU Deposit Guarantee Schemes Directive (94/19/EEC). However, the cooperative banks (BCC) of Italy managed their own fund (Fondo di Garanzia dei Depositanti del Credito Cooperativo). Another fun
BankingForbes Bank
Forbes Bank was a bank in the British Crown dependency of the Isle of Man, providing private and business banking services to the local population. The bank operated from 1826 until it crashed spectacularly in 1843 resulting in hardship, unemployment, bankruptcy and destitution for many of the inhabitants of the Island.
FinanceForeclosure rescue
Foreclosure rescue in the United States is where a mortgage that is in arrears and where the lender is at the stage of foreclosing on the loan agrees to stop the foreclosure in exchange for funds received through loan modification or from a government grant. It may also refer to funds that allow the homeowner to repurchase the property at or after foreclosure.
Fiat currenciesForeign exchange reserves
Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold and silver held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. Reserves are held in one or more reserve cur
Trading basicsForeign-exchange reserves of China
The foreign exchange reserves of China are the state of foreign exchange reserves held by the People's Republic of China, comprising cash, bank deposits, bonds, and other financial assets denominated in currencies other than China's national currency (the renminbi). As of August 2026, China's foreign exchange reserves totaled US$3.438 trillion, which is the highest foreign exchange reser
Trading basicsForeign-exchange reserves of India
The foreign reserves of India are holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee. The foreign-exchange reserves are managed by the Reserve Bank of India (RBI) for the Indian government, and the main component is foreign currency assets.
Fiat currenciesForex scandal
The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain. Market regulators in Asia, Switzerland, the United Kingdom, and the United States began to investigate the $4.7 trillion per day fo
NetworksFork (blockchain)
In blockchain, a fork is defined variously as:
Trading basicsForward Markets Commission
The Forward Markets Commission (FMC) was the regulatory body for the commodity market and futures market in India. It was under the Ministry of Finance, Government of India. In July 2014, it regulated Rs 17 trillion worth of commodity trades in India. It was headquartered in Mumbai. The Commission allowed commodity trading in 22 exchanges in India, of which 6 are national.
BankingFour pillars policy
The four pillars policy is an Australian Government policy to maintain the separation of the four largest banks in Australia by rejecting any merger or acquisition between the four major banks. The policy, rather than formal regulation, first articulated in 1990, reflects the competitive concerns of more concentration as well as the broad political unpopularity of further bank mergers. A
BankingFractional-reserve banking
Fractional-reserve banking is the system of banking under which banks that take deposits from the public keep only part of their deposit liabilities in liquid assets as a reserve, and lend a percentage to borrowers, thus increasing the money supply by the loaned amount. Bank reserves are held as cash in the bank or as balances in the bank's account at the central bank. Fractional-reserv
BankingFree banking
Free banking is a monetary arrangement where banks are free to issue their own paper currency (banknotes) while also being subject to no special regulations beyond those applicable to most enterprises.
FinanceFreedom Holding
Freedom Holding Corp. is an American investment conglomerate headquartered in Almaty, Kazakhstan. Founded in 2008 by Timur Turlov in the United States, the company provides a range of services in retail financial securities brokerage and trading, asset management, capital markets, investment research and counseling, investment banking and underwriting services, mortgages, insurance, bank
BankingFriends of Traditional Banking
The Friends of Traditional Banking (FOTB) is an independent expenditure-only committee, or super PAC, with the aim of improving the political and regulatory environment for the banking industry in the United States by decreasing federal regulation, particularly by repealing the Dodd–Frank Wall Street Reform and Consumer Protection Act. As a non-partisan trade group, it selects a small nu
Securities & exchangesFront running
Front running, also known as tailgating, is the practice of entering into an equity (stock) trade, option, futures contract, derivative, or security-based swap to capitalize on advance, nonpublic knowledge of a large ("block") pending transaction that will influence the price of the underlying security. In essence, it means the use of knowledge of an impending trade to engage in a person
Securities & exchangesFTSE All-Share Index
The FTSE All-Share Index, originally known as the FTSE Actuaries All Share Index, is a capitalisation-weighted index, comprising around 600 of more than 2,000 companies traded on the London Stock Exchange (LSE). By weighting companies based on their market capitalisation, the index ensures that companies with larger market capitalisations have a greater influence on the index's performan
BankingFugitive bankers case
The Case of the Fugitive Bankers was a political scandal in Venezuela that came about during the 1994 banking crisis, when several banks collapsed and their directors fled the country. Among them were Orlando Castro Llanes, Fernando Araújo, director of Banco Metropolitano and son-in-law of then-president, Rafael Caldera, Gustavo Gómez López of Banco Latino, José Bauza of Banco de Venezue
BankingFull-reserve banking
Full-reserve banking (also known as 100% reserve banking) is a system of banking where banks do not lend demand deposits and instead only lend from time deposits. It differs from fractional-reserve banking, in which banks may lend funds on deposit, while fully reserved banks would be required to keep the full amount of each customer's demand deposits in cash, available for immediate with
BankingFunding liquidity
Funding liquidity is the availability of credit to finance the purchase of financial assets. The International Monetary Fund (IMF) defines funding liquidity as "the ability of a solvent institution to make agreed-upon payments in a timely fashion". In practice, funding liquidity refers to whether a bank or financial institution can meet its payment obligations at a given point in time.
BankingFunds transfer pricing
The Fund Transfer Pricing (FTP) measures the contribution by each source of funding to the overall profitability in a financial institution. Funds that go toward lending products are charged to asset-generating businesses whereas funds generated by deposit and other funding products are credited to liability-generating businesses.
Securities & exchangesFutures contract
In finance, a futures contract (often just called a future) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The item transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the forward price or delivery pric
Trading basicsGAIN Capital
GAIN Capital Holdings, Inc. was a US-based provider of online trading services, headquartered in Warren, New Jersey until it was acquired by StoneX Group in 2020. The company provided market access and trade execution services in foreign exchange, contracts for difference (CFDs) and exchange-based products to retail and institutional investors. Trading was provided via one of two electr
AssetsGalaxy Digital (company)
Galaxy Digital Inc., doing business as Galaxy, is an American financial services and infrastructure company headquartered in New York City. The company focuses on digital assets, cryptocurrency, blockchain infrastructure, and artificial intelligence and high-performance computing data center infrastructure. Its digital asset businesses include over-the-counter trading, lending, investmen
AssetsGenesis (cryptocurrency company)
Genesis is a cryptocurrency intermediary for institutional investors, with Digital Currency Group (DCG) as its parent company.
StablecoinsGENIUS Act
The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) is a United States federal law that aims to create a comprehensive regulatory framework for stablecoins. Stablecoins are a type of cryptocurrency that are backed by assets considered to be reliable such as a national currency or a commodity. Stablecoins are typically used to transfer funds between diff
BankingGerman Banking Industry Committee
The German Banking Industry Committee (GBIC) (German: Die Deutsche Kreditwirtschaft / DK), known until 2011 as the Central Credit Committee (German: Zentraler Kreditausschuss / ZKA) is an industry association of the German banking industry. Its decisions are held normative for the national banking sector – either directly by interbank treaties or indirectly by preparing a corresponding m
BankingGerman public banking sector
The German public banking sector (German: Öffentliches Kreditwesen) represents a significant share of the broader banking sector in Germany. Unlike in most other Western and Central European countries, German public-sector banks have been present since the early phases of formalization of banking entities in the early modern period and have never lost their collective significance. They
BankingGhana banking crisis
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016. Most of the indigenous banks had been at the risk of defaulting on their loans, as th
BankingGharar
Gharar (Arabic: غرر) literally means uncertainty, hazard, chance or risk. It is a negative element in mu'amalat fiqh (transactional Islamic jurisprudence), like riba (usury) and maisir (gambling).
FinanceGIFT International Financial Services Centre
The GIFT International Financial Services Centre (GIFT IFSC) is a financial centre and special economic zone in GIFT City, India. It was established in 2015 as a financial hub to provide world-class infrastructure and services for financial institutions and companies operating in areas such as banking, insurance, capital markets, and asset management. GIFT IFSC is regulated by the Intern
Payments & settlementGiro (banking)
A giro transfer, often shortened to giro (), is a payment transfer between current bank accounts and initiated by the payer, not the payee. The debit card has a similar model. Giros are primarily used in Europe; although electronic payment systems exist in the United States (e.g., the Automated Clearing House), it is not possible to perform third-party transfers with them. In the Europea
BankingGirocard
girocard is an interbank network and debit card service in Germany connecting virtually all automated teller machines (ATMs) and banks. It is based on standards and agreements developed by the German Banking Industry Committee.
Payments & settlementGiropay
Giropay was an Internet payment system in Germany, based on online banking. Introduced in February 2006, this payment method allowed customers to buy securely on the Internet using direct online transfers from their bank account. The system was similar to the Dutch iDEAL payment system, MyBank payment system, the Interac online service in Canada, pagomiscuentas payment service in Argenti
BankingGlobal Alliance for Banking on Values
The Global Alliance for Banking on Values (GABV) is an independent association of 'values-based banks' with a shared mission to use finance to deliver environmental, social, and corporate governance (ESG) positive outcomes. The GABV consists of over 70 member banks, credit unions and microfinance institutions. Its headquarters are in Amsterdam, Netherlands.
FinanceGlobal financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic action that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment
Trading basicsGlobal recession
A global recession is a recession that affects many countries around the world—that is, a period of global economic slowdown or declining economic output. Since World War II, the International Monetary Fund (IMF) has identified five such recessions, with the COVID-19 recession being the most severe.
BankingGLS Bank
GLS Bank (officially GLS Gemeinschaftsbank eG) is a German ethical bank that was founded in 1974 as an anthroposophical initiative by Wilhelm Ernst Barkhoff and Gisela Reuther. It was the first bank in Germany that operated with an ethical philosophy. According to GLS Bank, its focus is on cultural, social and ecological initiatives, initiated by people, and not anonymous interests seeki
BankingGold dinar
The gold dinar (Arabic: ﺩﻳﻨﺎﺭ ذهب) is an Islamic medieval gold coin first issued in AH 77 (696–697 CE) by Caliph Abd al-Malik ibn Marwan. The weight of the dinar is 1 mithqal (4.25 grams or 0.137 troy ounces).
BankingGold standard
A gold standard is a monetary system in which the standard economic unit of account is defined by a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971, when the United States unilaterally terminated convertibility of the US dollar into gold, effect
Payments & settlementGovPay
GovPay is a digital payment platform launched by the Government of Sri Lanka to streamline and modernise payment processes for government services. Officially introduced on 7 February 2025, under the patronage of President Anura Kumara Dissanayake, GovPay represents a significant step toward the digitalization of public services in Sri Lanka. This is a joint initiative of the Ministry of
BankingGreen lending
Green lending refers to a lending dependent on environmental criteria for the planned use of funds. It is part of the wider sustainable investing and aims to reduce the impact on the environment of new lending activities. It includes green bonds (debt), green loans (often linked to a specific project) and sustainability-linked loans (typically tied to sustainability performance objectiv
Securities & exchangesGreenshoe
Greenshoe, or over-allotment clause, is the term commonly used to describe a special arrangement in a U.S. registered share offering, for example an initial public offering (IPO), which enables the investment bank representing the underwriters to support the share price after the offering without putting their own capital at risk. This clause is codified as a provision in the underwritin
FinanceGreenspan put
The Greenspan put was a monetary policy that Alan Greenspan, during his tenure as chair of the Federal Reserve, exercised in response to financial crises. It was used for the first time with the crash of 1987. Though it was successful in addressing various crises, it became controversial as it led to periods of extreme speculation led by Wall Street investment banks overusing the put's r
FinanceGrey (company)
Grey, formerly known as Aboki Africa, is a financial technology company headquartered in Delaware, US. Founded in 2020 by Idorenyin Obong and Femi Aghedo during the global pandemic of 2020, the company focuses on creating global financial products for digital nomads. Grey is registered and licensed in Canada by FinTrac and the USA by FinCen and operates in the financial service market.
FinanceGross rent multiplier
The gross rent multiplier (GRM) is a real estate valuation metric defined as the ratio of a property's purchase price to its annual gross rental income, before deducting expenses such as property tax, insurance, and utilities. It represents the number of years of gross rent required to recover the full purchase price of the property. For a prospective investor, a lower GRM indicates a re
FinanceGroup of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors. Areas within the interest of the group include: the foreign exchange market, international capital markets, international financial instituti
Securities & exchangesGympie Stock Exchange
Gympie Stock Exchange is a heritage-listed former bank building and former stock exchange at 236 Mary Street, Gympie, Gympie Region, Queensland, Australia. It was designed by Francis Drummond Greville Stanley and built from 1881 to 1882. It is also the former Australian Joint Stock Bank and the Neilson, Stanton and Parkinson Building. It was added to the Queensland Heritage Register on 1
Trading basicsHana Bank
Hana Bank (Korean: 하나은행), known from its initial establishment in 1971 to 1991 as Korea Investment Finance Corporation (Korean: 한국투자금융), is one of South Korea's largest banks. It merged with Seoul Bank (est. 1959) in 2002, then with Korea Exchange Bank (est. 1967) in 2015, and was branded KEB Hana Bank from 2015 to 2019. It is a subsidiary of Hana Financial Group.
BankingHaute Banque
Haute Banque refers to the network of private bankers which dominated international finance during much of the 19th century, exemplified by the Rothschild family and including numerous other European banking families. Its influence declined in the late 19th and early 20th centuries as it became marginalized by the rise of universal banks and central banks.
AssetsHedera (distributed ledger)
Hedera Hashgraph, commonly known as Hedera, is a distributed ledger which uses a variant of proof of stake to reach consensus. The native cryptocurrency of the Hedera Hashgraph system is HBAR.