Glosario de términos

• Credit to euro area residents
  A broad measure of the financing of non-monetary financial institution (MFI) euro area residents (including general governments and the private sector) provided by MFI sector. It is defined as including loans and holdings of securities. The latter includes shares, other equity and debt securities issued by non-MFI euro area residents. As securities can be seen as an alternative source of funds to loans, and as some loans can be securitised, this definition provides more accurate information on the total amount of financing provided by the MFI sector to the economy than a narrow definition comprising loans only.
• Current account
  A balance of payments account that covers all transactions in goods and services, income and current transfers between residents and non-residents.
• Capital account
  A balance of payments account that covers all capital transfers and acquisitions/disposals of non-produced, non-financial assets between residents and non-residents.
• Compensation per employee
  The total remuneration, including gross wages and salaries as well as bonuses, overtime payments and employers' social security contributions, that is payable, in cash or in kind, by employers to employees, divided by the total number of employees.

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