Monetary Policy Glossary

Monetary Policy Glossary

Buscar por letra:

S

Securities settlement system (SSS) 
Transfer system for the settlement of securities operations. It covers all the institutional procedures necessary for the clearing and settlement of securities operations, as well as for their custody.
Single monetary policy 
The single monetary policy is the policy applied in the European Community States which have joined EMU and adopted the euro as their currency by means of a common monetary authority, the Eurosystem (made up of the ECB and the central banks of those States), that is responsible for taking and executing decisions on monetary policy throughout the area. The Governing Council of the ECB is the supreme decision-making body of the Eurosystem, which makes decisions on monetary policy according to the situation of the euro area as a whole. The national central banks of Member States are responsible for conducting monetary policy operations in a decentralised way, while following common guidelines.
Standing facility 
A central bank instrument available to counterparties at their own initiative. The Eurosystem offers two standing facilities: The marginal lending facility and the deposit facility.