Glossary

General Glossary

V

Vacancies 

Collective term that covers newly created jobs, positions that remain open and those that will become available in the near future, in respect of which the company has adopted active measures to find a suitable candidate.

Valuation 

The calculation of the value of a certain asset. For example, housing is subject to official appraisal by an expert, in order to find out its real value before a mortgage loan can be taken out.

Valuation agencies  

Entities specialising in real estate valuation which are authorised to conduct this activity and are supervised by the Banco de España.

Value date  

The date from which an amount begins to generate interest or is payable, for example when it is paid into a current account.

Variable-income securities 

These represent a shareholding in the ownership of a business. They include shares listed on the Stock Exchange (listed shares), non-listed shares and other forms of shareholding. Variable-income securities usually generate income in the form of dividends.

Variable interest rate 

A loan is contracted at a variable interest rate when it is agreed that the interest rate be review at certain intervals (usually annually or every six months). To carry out this review, a referral rate is established, for example the Euribor, the evolution of which determines increases or reductions in interest payments.

Variable rate tender 

A tender procedure whereby the counterparties bid both the amount of liquidity they want to transact with the central bank and the interest rate at which they want to enter the transaction.