The Monetary System

Glossary

ABCP

Asset-backed commercial paper. Redeemable financial instrument backed by a guarantee on a portfolio of receivables

ABS

Asset-backed securities. Redeemable financial instrument backed by a mortgage or lean on an asset. They are moved off-balance-sheet by banks

ADeS

Advanced developed economies. A concept used by the FSB and OCDE. It distinguishes EMDEs and less developed countries

AMF

Autorité des Marchés Financiers. French authority in charge of regulating listed securities and financial markets as well as issuers

ANC

Autorité des Normes Comptables. French authoritative body for transposing European regulation into French regulation and giving suggestions to international accounting standard setters

APAK

German oversight board for the German auditing profession. It is the equivalent to PCAOB in the USA or H3C in France

ARC

Accounting Regulatory Committee. Part of the European Union endorsement system for accounting standards

Bancor

Proposed by the British economist John Maynard Keynes to create a global bank (the International Clearing Union (ICU)) which would then issue its own currency (Bancor) based on the value of 30 representative commodities including gold, exchangeable against national currencies at fixed rates. All trade accounts were to be measured in Bancor, while each country would maintain a Bancor account with the ICU

BCBS

Basel Committee on Banking Supervision. Created inside the Bank for International Settlements (BIS), the BCBS convenes ...