Banco de España - General Glossary

General Glossary

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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.