The concepts that begin with the selected letter along with their definition are listed below. Click "Further information" to be directed to the page where detailed information about the concept is located. You can use the links above if you want to change the start letter.
M
- Main refinancing operations interest rate
The interest rate at which the European Central Bank is remunerated by credit institutions for lending them money for a one-week term.
- Management companies of closed-end collective investment schemes
Public limited company or limited liability company whose corporate purpose is the management of the investments of one or more venture capital entities and or one or more closed-end collective investment entities, as well as the control and management of their risks.
- Management companies of collective investment schemes
Public limited company that exercises control without owning a fund or investment company. The activity of management companies of collective investment schemes consists of managing, administering, and representing funds and investment companies, as well as defining and executing the investment policy.
- Marginal lending facility interest rate
The interest rate at which the European Central Bank is remunerated by credit institutions for lending them money for a one-day term.
- Market value
The price at which a financial asset or liability is valued on a specific date. It represents the current value of the financial instrument.
- MFI
- Míbor
Spanish interbank interest rate that, until the creation of Euribor in the year 2000, was the most commonly used reference rate for mortgage loans.
- MMF
- MMIF
See Money Market Investment Funds.
- Monetary Financial Institutions
An institutional grouping used to designate the set of financial entities considered to be money creators. Their main activity consists of accepting deposits or close substitutes and granting loans or investing in securities on their own account. In the euro area, monetary financial institutions are composed of the Eurosystem (European Central Bank and national central banks) and other monetary financial institutions. This term was coined by the Eurosystem.
- Monetary gold
Gold for which monetary authorities, or others who are subject to the effective control of the monetary authorities, have title and which is held as a reserve asset. It includes gold bullion and unallocated gold accounts with non-residents that give title to claim the delivery of gold.
- Monetary gold and SDRs
Monetary gold is gold to which monetary authorities have title. It includes gold bullion and unallocated gold accounts. All gold held by other entities is considered non-monetary gold and is not classified as a financial instrument. Unlike all other instruments, gold bullion can only be recorded as a financial asset (i.e. never as a liability). Special drawing rights (SDRs) are international reserve assets created by the International Monetary Fund (IMF). SDRs can be converted into any IMF member country currency and serve as a source of liquidity for those countries.
- Money market assets investment funds
An old Spanish legal figure that, since January 1999, corresponds exactly to money market funds. The definition of money market assets investment funds focused primarily on eligible investment assets —never equities— and the residual maturity of these assets, which could not exceed 18 months.
- Money market funds (MMF)
Subsector of the economy consisting of all financial institutions and quasi-corporations, except those classified in the ‘central bank’ and ‘Deposit-taking corporations except the central bank’ subsectors, that are primarily engaged in financial intermediation.
- M1
Narrow monetary aggregate that includes currency in circulation and overnight deposits.
- M2
Intermediate monetary aggregate that includes M1, deposits redeemable at notice up to three months, and deposits with agree maturity up to two years.
- M3
Broad monetary aggregate that includes M2 and negotiable instruments, in particular, repurchase agreements, money market fund shares, and debt securities up to two years issued by monetary financial institutions.
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