debt securities issued , including money market paper

Liquidity risk the risk that a counterparty will not settle an obligation at its full value when due but on some unspecified date thereafter .

Executive Board one of the decision making bodies of the European Central Bank ( ECB ) .

Implied volatility the expected volatility ( i.e. standard deviation ) in the rates of change of the price of an asset ( e.g. a share or a bond ) .

( 45 ) Refers to debt securities and money market paper .

( b ) Marketable securities Market price

( d ) Marketable securities Market value

( b ) Securities ( marketable ) Market price

securities other than shares , including money market paper

Foreign exchange swap simultaneous spot and forward transactions exchanging one currency against another .

Money market paper

In the context of the Eurosystem , this means buying or selling other currencies against the euro . General Council one of the decision making bodies of the ECB .

Money market paper is included as part of debt securities .

Debt securities markets The money market in a broader sense also includes the market for shortterm securities .

( c ) money market paper .

money market paper ( 3 )

and money market paper .

money market paper issued

3 Excluding money market paper .

( d ) market practice ( derived from reports by the International Securities Market Association ) .

It has bought securities backed by cash flows from private sector mortgages, so called covered bonds, and it has floated the idea of buying corporate bonds and multilateral securities issued by the European Investment Bank.

Debt securities Bonds and notes Money market instruments

( 3 ) Excluding money market paper .

There are also real business benefits.

Debt securities Bonds and notes Money market instruments Euro

Assessment of links The Eurosystem has also continued to assess links between SSSs , in line with its policy of encouraging the development of market solutions for the cross border use of collateral and to foster the integration of European financial markets .

( b ) Securities ( marketable ) Market price and foreign exchange rate

( a ) Securities ( marketable ) Market price and foreign exchange market rate

( b ) Marketable securities Market price and foreign exchange market rate

( a ) Marketable securities Market price and foreign exchange market rate

Portfolio investment Equity securities Debt securities Bonds and notes Money market instruments III .

Overnight deposits Deposits with agreed maturity up to 2 years Deposits redeemable at notice up to 2 years Debt securities issued Debt securities with agreed maturity up to 2 years Money market paper Money market paper

Governing Council the supreme decision making body of the ECB .

Debt securities US Dollar Bonds and notes Money market instruments

Debt securities Other currencies Bonds and notes Money market instruments

( b ) Marketable securities Market price at year end

European System of Accounts 1995 ( ESA 95 ) a system of uniform statistical definitions and classifications aimed at achieving a harmonised quantitative description of the economies of the Member States .

3 ) The item includes money market paper .

The reporting of this item is discontinued . Historical data are also discontinued and not revised

Defined as holdings of money market paper ( MMP ) issued by MFIs .

Defined as holdings of MMP issued by MFIs .

with a maturity of up to two years .

4 Defined as holdings of money market paper issued by MFIs .

( b ) Marketable securities Market price at yearend ( c ) Loans outside the euro area Loans to and non marketable securities issued by non euro area residents

The euro area equity market is increasingly viewed as a single market .