fair value accounting (FVA)

A valuation principle that stipulates the use of either a market price, where it exists, or an estimation of a market price as the present value of expected cash flows to establish the balance sheet value of financial instruments.
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financial account (in a b.o.p. context)

A b.o.p. account that covers all transactions in direct investment, portfolio investment, other investment, financial derivatives and reserve assets, between residents and non-residents.
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financial accounts

Part of the system of national (or euro area) accounts showing the financial positions (stocks) and financial transactions of the different institutional sectors of an economy by type of financial instrument.
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financial auxiliary

A corporation or quasi-corporation that is engaged primarily in auxiliary financial activities, e.g. insurance brokers, investment advisors and corporations providing infrastructure for financial markets.
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financial corporations engaged in lending

Corporations and quasi-corporations, classified as OFIs, specialising mainly in asset financing for households and non-financial corporations. Included are also firms specialising in financial leasing, factoring, mortgage lending and consumer lending.
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fixed rate bond

A debt security with a nominal coupon payment that does not change during the life of the issue.
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fixed rate tender

A tender procedure, in which the interest rate is specified in advance by the central bank and in which participating counterparties bid the amount of money they want to transact at that interest rate.
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flow (transactions)

The creation, transformation, exchange, transfer or extinction of economic value involving a change in the ownership of goods and/or financial assets, the provision of services or the provision of labour and capital. Flows can be calculated as differences in stocks adjusted to remove the effect of reclassifications, exchange rate variations, other revaluations and any other changes that do not arise from transactions.
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foreign exchange revaluation

An adjustment to remove from flow data the effects of any change in the euro value of balance sheet items originally denominated in foreign currency that arises from changes in the relevant exchange rates against the euro.
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foreign exchange swap

Simultaneous spot and forward transactions exchanging one currency against another. The Eurosystem can execute open market monetary policy operations in the form of foreign exchange swaps, where the national central banks (or the ECB) buy or sell euro spot against a foreign currency and at the same time sell or buy them back in a forward transaction.
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FVA

See   fair value accounting (FVA)
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