The requirement of the short term approach is to report securities other than shares at nominal ( face ) value ( N ) and quoted shares at market ( transaction ) value ( M ) .

NCBs must report debt securities at nominal value ( i. e face value ) and quoted shares at market value ( i. e transaction value ) .

Removal of transaction costs

nature of transaction

Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares Securities other than shares

Trade date accounting

Counterparty the opposite party in a financial transaction ( e.g. in a transaction with the central bank ) .

Securities Non ( other MFIs than shares ) Securities ( other than shares ) Securities Non ( other MFIs than shares ) Securities Non ( other MFIs than shares ) Securities Non ( other MFIs than shares ) Securities Non ( other MFIs than shares ) Securities ( other than shares )

The structure of the transaction .

the Nature of Transaction .

Non MFIs

( b ) Quoted shares Quoted shares include capital shares issued by limited liability companies , redeemed shares in limited liability companies , dividend shares issued by limited liability companies , preferred or preference stocks or shares which provide for participation in the distribution of the residual value on dissolution of a corporation .

Day count convention the convention regulating the number of days included in the calculation of interest on credits .

the foreign credit institution would in turn regard this account as its nostro account .

Counterparty the opposite party in a financial transaction ( e.g. any transaction with the central bank ) .

This means that each national central bank has a securities account in its securities administration for each of the other national central banks ( and for the ECB ) .

It is computed as a weighted average of the interest rates on unsecured overnight contracts on deposits denominated in euro , as reported by a panel of contributing banks .

The Euro Clearing System ( Euro 1 ) is the successor system to the ECU Clearing and Settlement System .

4.1 Securities ( other than shares ) Securities ( other than shares )

Revaluation accounts balance sheet accounts for registration of the difference in the value of an asset or liability between the adjusted cost of its acquisition and its valuation at an end of period market price , when the latter is higher than the former in case of assets , and when the latter is lower than the former in case of liabilities .

Securities ( other than shares ) General government Securities ( other than shares ) Securities ( other than shares ) Securities ( other than shares ) General government Securities ( other than shares ) Securities ( other than shares ) Securities ( other than shares ) General government Securities ( other than shares ) Securities ( other than shares ) General government General government General government

STS short term securities other than shares . LTS long term securities other than shares .

Due attention is paid to the need to identify the nature of shocks affecting the economy , their effects on cost and pricing behaviour and the short to medium term prospects for their propagation in the economy ( see also monetary analysis ) .

Due attention is paid to the need to identify the nature of shocks affecting the economy , their effects on cost and pricing behaviour , and the short to medium term prospects for their propagation in the economy ( see also monetary analysis ) .

Loans Securities other than shares Claims on euro area residents denominated in for Domestic eign currency Other assets Domestic MFIs

Provisions shall mean amounts set aside before arriving at the profit or loss figure in order to provide for any known or expected liability or risk , the cost of which cannot be accurately determined ( see Reserves ) .

Securities other than shares Securities other than shares Securities other than shares

In most cases , in accordance with international standards , the investment in the respective firm was recorded as direct investment and the settlement of the transaction in shares as portfolio equity investment .

Price valuation according to the ESA 95 , which requires for debt securities and shares that flows are recorded at transaction value and stocks at market value , is not applied in this context .

( b ) Quoted shares Quoted shares include capital shares issued by limited liability companies , redeemed shares in limited liability companies , dividend shares issued by limited liability companies , preferred or preference stocks or shares which provide for participation in the distribution of the residual value on dissolution of a corporation .

Deposit facility a standing facility of the Eurosystem which counterparties may use to make overnight deposits at a national central bank and which are remunerated at a pre specified interest rate ( see key ECB interest rates ) .

The real EER indices for the euro are calculated using alternative measures of prices and costs .

EONIA ( euro overnight index average ) a measure of the interest rate prevailing in the euro interbank overnight market , based on transactions .

( b ) the conditions under which a regulated market may provide for deferred publication of trades and the sizes of transaction or types of share for which deferred publication is allowed

and ( c ) accepted as a means of payment by undertakings other than the issuer . Cross border settlement a settlement which takes place in a country other than the country or countries in which one or both of the parties to the trade are located .

and ( c ) accepted as a means of payment by undertakings other than the issuer . Cross border settlement a settlement which takes place in a country other than the country or countries in which one or both of the parties to the trade are located .

Table 2 Normal trade days for the main and the longer term refinancing operations Type of operation Normal trade day ( T )

Maximum Actions

Equity funds

Key Key

SDDs FCLs

Bond funds

The family launches a campaign

TRADE DATE ACCOUNTING Regular approach Alternative approach

the exchange rate prevailing at the time of the transaction .