GDP

See   gross domestic product (GDP)
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General Council of the ECB

One of the decision-making bodies of the ECB. It comprises the President and the Vice-President of the ECB and the governors of the national central banks of all EU Member States. See also   Executive Board
  Governing Council
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general government

A sector defined in the ESA 95 as comprising resident entities that are engaged primarily in the production of non-market goods and services intended for individual and collective consumption and/or in the redistribution of national income and wealth. Included are central, regional and local government authorities as well as social security funds. Excluded are government-owned entities that conduct commercial operations, such as public enterprises. See also   central government
  state government
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GESMES

A United Nations standard (EDIFACT message) designed by Expert Group 6 (Statistics) of the e-Business Board for European Standardisation that allows partner institutions to exchange multi-dimensional statistical arrays in a generic but standardised way.
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GESMES/TS

A message (a GESMES profile, previously called GESMES/CB) used to exchange statistical time series, related attributes and structural metadata in a standardised format.
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global custodian

A custodian which provides its customers with custody services in respect of securities traded and settled not only in the country in which the custodian is located but also in numerous other countries throughout the world.
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Governing Council

The supreme decision-making body of the ECB. It comprises the President and the Vice-President of the ECB plus the other members of the Executive Board and the governors of the national central banks of those EU Member States that have adopted the euro. See also   Executive Board
  General Council of the ECB
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government deficit/surplus

Net borrowing/lending by the general government sector.
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government expenditure

The set of non-financial transactions defined in the ESA 95 as decreasing general government net lending or increasing general government net borrowing, i.e. transactions that decrease the general government sector’s net worth.
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government revenue

The set of non-financial transactions defined in the ESA 95 as increasing general government net lending or decreasing general government net borrowing, i.e. transactions that increase the general government sector’s net worth.
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gridlock

A situation which can arise in a funds or securities transfer system when the failure of some transfer instructions to be executed (because the necessary funds or securities balances are unavailable) prevents a substantial number of other instructions from other participants being executed. See also   failed transaction
  queuing
  systemic risk
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gross domestic product (GDP)

A measure of economic activity, namely the value of an economy's total output of goods and services, less intermediate consumption, plus net taxes on products and imports, in a specified period. GDP can be broken down by output, expenditure or income components. The main expenditure aggregates that make up GDP are household final consumption, government final consumption, gross fixed capital formation, changes in inventories, and imports and exports of goods and services (including intra-euro area trade).
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gross monthly earnings

The gross monthly wages and salaries of employees, including employees’ social security contributions.
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gross settlement system

A transfer system in which the settlement of funds or the transfer of securities occurs on an instruction-by-instruction basis. See also   net settlement system
  transfer system
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