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Abbreviations glossary

EAD

exposure at default

EBA

See European Banking Authority (EBA)

EBITDA

earnings before interest, taxes, depreciation and amortisation

EBP

excess bond premium

EBPP

See Electronic Bill Presentment and Payment (EBPP; electronic invoicing)

ECA

European Court of Auditors

ECAF

Eurosystem credit assessment framework

ECB

See European Central Bank (ECB)

ECL

expected credit loss

ECOFIN

Economic and Financial Affairs Council. See Council of the European Union (EU Council)

ECU

See European Currency Unit (ECU)

EDF

expected default frequency

EDI

See electronic data interchange (EDI)

EDIS

European Deposit Insurance Scheme

EDP

See excessive deficit procedure (EDP)

EDW

European Data Warehouse

EEA

See European Economic Area (EEA)

EER

See effective exchange rate (EER) of the euro

EER-19

An effective exchange rate of the euro against the currencies of the nine non-euro area EU Member States and ten of the euro area’s trading partners outside the EU. See also effective exchange rate (EER) of the euro

EER-38

An effective exchange rate of the euro encompassing the EER-19 and 19 additional countries. See also effective exchange rate (EER) of the euro

EFC

See Economic and Financial Committee (EFC)

EFSF

See European Financial Stability Facility (EFSF)

EFSM

See European Financial Stabilisation Mechanism (EFSM)

EIOPA

European Insurance and Occupational Pensions Authority

ELB

See effective lower bound (ELB)

ELMI

See electronic money institution (ELMI)

EMI

See European Monetary Institute (EMI)

EMIR

European Market Infrastructure Regulation

EMMS

Euro Money Market Survey

EMS

See European Monetary System (EMS)

EMU

See Economic and Monetary Union (EMU)

EMV

An acronym describing the set of specifications developed by the consortium EMVCo, which is promoting the global standardisation of electronic financial transactions – in particular the global interoperability of chip cards. “EMV” stands for “Europay, MasterCard and Visa”.

EONIA

See euro overnight index average (EONIA)

ERM II

See exchange rate mechanism II (ERM II)

ERPB

Euro Retail Payments Board

ESA

European Supervisory Authority

ESA 2010

See European System of Accounts 2010 (ESA 2010)

ESA 95

See European System of Accounts 1995 (ESA 95)

ESCB

See European System of Central Banks (ESCB)

ESCG

European Systemic Cyber Group

ESFS

See European System of Financial Supervision (ESFS)

ESM

See European Stability Mechanism (ESM)

ESMA

European Securities and Markets Authority

ESRB

See European Systemic Risk Board (ESRB)

ETF

exchange-traded fund

EUCLID

European centralised infrastructure for supervisory data

EURIBOR

See euro interbank offered rate (EURIBOR)

€STR

See euro short-term rate (€STR)

EVE

economic value of equity