General Glossary

General Glossary

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Debenture loan  
Financing method of a company which requests a loan in conjunction with a large number of investors, dividing up the debt into small participations.
Debit entry 
An entry made to an account, which implies a reduction in the balance of the account (due to cash withdrawal, payment of a direct debit, etc.).
Deflation 
A decline in the general price level.
Demand deposit  
In general, a synonym for current account. It refers to a financial instrument wherein the amounts deposited may be withdrawn or transferred (by cheque or similar) at any time without giving the custodian prior notice.
Deposit  
A subsidiary obligation to guarantee the performance of another, contracted by a third party. It normally consists in depositing an asset or amount of money.
Deposit Guarantee Fund  

A mechanism created to guarantee deposits made by clients, up to a limit of 100,000 per depositor, in case of crisis in a bank institution. The DGF will act in cases of bankruptcy or cessation of payments of an institution, or if the latter is unable to attend the payment of demand deposits and the Banco de España concludes that its financial situation will prevent it from returning them in the short term.

Deposit institution  
Subgroup of credit institutions formed by banks, savings banks and credit co-operatives. They are the only institutions with the capacity to receive deposits from the public.
Derivative  
A financial instrument whose value does not only vary according to parameters such as risk, term, etc., but also depends on the price quotation reached in the market by another asset, referred to as underlying reference asset. An investor who acquires a derivative bets on a certain movement of said underlying asset (upward or downward) in securities markets.
Direct debit order  
Order given by a customer to their bank for the payment of certain obligations when presented for collection (for example, the electricity or telephone bill).
Directorate General of Insurance and Pension Funds  
Dependant upon the Secretary of State for Economic Affairs, it is in turn attached to the Ministry of Economy, with supervisory and control competencies in matters relating to private insurance and reinsurance, capitalisation and pension funds.
Documentary credit  
Operation whereby a financial institution undertakes to place an amount of money at a customer's disposal, provided that the customer provides certain documents and fulfils certain requirements.
Draw  
To extend a commercial document against a debtor.
Draw  
To issue bills of exchange, cheques, commercial papers or other payment orders.
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