Statistical Terms Glossary

See also asset(-based) swap; basis (rate) swap.
A spot purchase of foreign exchange (currency swaps), fixed or floating rate funds (interest rate swaps) or assets (asset swaps) with simultaneous forward sale or vice versa. Pase financiero is an Argentinian system, related to the swap system, whereby persons or institutions making capital investments are given an "exchange guarantee," which guarantees that the funds can be re-exchanged at a predetermined exchange rate on a specific date. The French Government is recommending the term crédit croisé but it is fighting a losing battle.

A freight-carrying unit optimized to road vehicle dimensions and fitted with handling devices for transfer between modes, usually road/rail.
Note: Such units were not originally designed to be stacked when full or top-lifted. Many units now can be, although not to the same extent as containers. The main feature distinguishing them from containers is that they are optimized to road vehicle dimensions. Such a unit would need approval by the International Union of Railways to be used on rail. Some swap bodies are equipped with folding legs on which the unit stands when not on the vehicle.

A freight-carrying unit optimised to road vehicle dimensions and fitted with handling devices for transfer between modes, usually road/rail. Such units were not originally designed to be stacked when full or top-lift ed. Many units now can be, although not to the same extent as containers. The main feature distinguishing them from containers is that they are optimised to road vehicle dimensions. Such unit would need UIC approval to be used on rail. Some swap bodies are equipped with folding legs on which the unit stands when not on the vehicle.

Futures contract in swaps (initially interest rate swaps), introduced in the U.S. market in 1986.

Scheme set up by the Bank to provide greater flexibility in selecting direct counterparties. Enables Bank to negotiate directly with counterparties previously ineligible because of their credit status and to separate the pricing of the arrangers and credit fees from the pricing of other financial aspects of a swap operation.

See Foreign exchange swap.

To carry out a swap transaction.

A forward-type financial derivative contract in which two counterparties agree to exchange cash flows determined with reference to prices of, say, currencies or interest rates, according to predetermined rules. At inception, this instrument typically has zero market value, but as market prices change the swap acquires value.

Cross-currency interest rate swaps (sometimes known as “currency swaps”) involve an exchange of cash flows related to interest payments and an exchange of principal amounts at an agreed exchange rate at the end of the contract; there might also be an exchange of principal at the beginning of the contract and, in these circumstances, there may be subsequent repayments, which include both interest and principal, over time according to the predetermined rules

See Interest rate swap - SNA.

Instrument combining features of swaps and options whereby the buyer acquires the right (but not the obligation) to make a swap within a specific period of time at a rate previously agreed.

An organe within the body of a fish that allows the fish to remain neutrally buoyant at various depths of water by adjusting the gaseous content of the space.

A short-term line of credit enabling borrowers to draw at short notice to cover the delay in issuing notes or making other forms of drawing.

See Mixed indexation

Sale of paper which is no longer considered to have long-term possibilities and investment of the proceeds in securities considered more worthwhile.

In a rollover credit agreement, a clause which allows a lender to lend in a currency other than the one stipulated in the agreement, if the stipulated currency is not available.

See Interest (rate) switching; inward switching; outward switching operations.

The value that reverses the ranking of two alternative projects. For example, Farm A will produce beef with high technology equipment and few workers, while Farm B will consist of a low-technology operation employing many farm workers. Up to a weight of 1.5 on income going to the poor, Farm A has a higher rate of return. However, if a weight greater than 1.5 is given, Farm B will have a higher rate of return. The switching value, therefore, is 1.5.

The power of symbols to impose, devastate, attack, suppress, and distort ways of seeing, thinking, and talking. Symbolic violence often can be more devastating than physical attack to the extent that it imposed and reinforces social harms caused by class, gender, and other status differences, strengthens social barriers, and reinforces culturally embedded domination games. It occurs through imposing a set of ideas, in an unclear manner on a recessive social category and thus this category start, in a non-conscious way, to realize, understand and monitor the social system that serves the dominant category, and serves to perpetuate the social structure that’s preferred by the dominant category. The method used in the imposition of gender and discrimination on its basis is considered one of the most prominent examples of symbolic violence.