General Glossary

General Glossary

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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.