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Definitions (252)
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foreign currency operations
Purchase or sale of the currencies of other nations by a central bank for the purpose of influencing foreign exchange rates or maintaining orderly foreign exchange markets. Also called foreign-exchang [..]
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Joint float
An arrangement by which a group of currencies maintain a fixed relationship relative to each other, but move jointly relative to another currency in response to supply and demand conditions in the exc [..]
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Vault cash
Cash kept on hand in a depository institution’s vault to meet day-to-day business needs, such as cashing checks for customers; can be counted as a portion of the institution’s required reserves.
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Absolute advantage
A country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another country.
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academic consultants
An advisory group initiated by the Board in the 1960’s to provide a forum for the exchange of views between the Federal Reserve Board and members of the academic community in economics and banking.
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ACCRETION OF DISCOUNT
A straight-line accumulation of capital gains on discount bonds in anticipation of being paid par at maturity.
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aggregate
Any total (e.g., the gross national product; the sum of monthly sales).
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Agreement corporation
Corporation chartered by a state to engage in international banking; so named because the corporation enters into an ‘agreement’ with the Board of Governors to limit its activities to those permitted [..]
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AMORTIZATION
The process of fully paying off indebtedness by installments of principal and earned interest over a definite time.
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