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 [..]

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 [..]

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.

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.

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.

A straight-line accumulation of capital gains on discount bonds in anticipation of being paid par at maturity.

See cash method of accounting.

Any total (e.g., the gross national product; the sum of monthly sales).

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 [..]

The process of fully paying off indebtedness by installments of principal and earned interest over a definite time.