Glossary

General Glossary

H

Harmonised Index of Consumer Prices (HICP) 

A statistical indicator of consumer prices in the States belonging to the euro area, drawn up using the same methodological criteria across the entire area and published by Eurostat. It is used by the Governing Council of the ECB to assess price stability. It was standardised to comply with the requirements of the Treaty, and this was undertaken by the European Commission (through Eurostat), in collaboration with national statistics offices, the European Monetary Institute (EMI), and subsequently with the ECB. The breakdown of the HICP into groups of goods and services was defined according to the harmonised classification of private consumption by purpose. Moreover, due to their analytical interest, calculations are made for certain special groups, such as unprepared foodstuffs, seasonal foodstuffs, manufactured goods excluding energy, energy, services, etc. The unprepared foodstuffs and energy groups are those with the greatest fluctuations in price and they are therefore excluded from the HICP to obtain the so-called core inflation.

Held-to-maturity portfolio 

A portfolio registered in favour of a participant in the registered public debt market plus temporarily transferred securities minus those temporarily acquired.

Holder 

In general, an individual with a legal document in their name that grants them a right or ownership of something. In the context of current and savings accounts, it is the person in whose name these products are opened.

Holgram patch 

An element containing a hologram structure with three-dimensional images. The obverse of €50, €100, €200 and €500 notes features a hologram patch.

Hologram 

A fine microscopic diffraction structure whereby three-dimensional images are generated. In €5, €10 and €20 banknotes it is incorporated in the form of a strip, while in €50, €100 , €200 and €500 banknotes it is incorporated in the form of a foil patch.

Holographic band 

A rectangular stripe, located vertically on a banknote, in which a holographic structure with three dimensional images is located. The €5, €10 and €20 banknotes have it on their obverse to make it easier for the public to recognise legitimate banknotes. See also "Light diffraction" and "Hologram".

Home savings account  

Bank account or margin deposit which enjoys certain tax benefits, provided that the amounts deposited are destined exclusively for purchasing or renovating the first main residence. The tax discount is subject to a quantitative amount and the duration of the margin deposit is also limited in time.