var glossary = Array();

glossary["Affiliated companies"] = "Entity over which the investor has control .";
glossary["Associated companies"] = "Entity over which the investor has significant influence.";
glossary["Back testing"] = "The backward comparison of VaR figures with actual results to test the quality of a model.";
glossary["Badwill"] = "Any remaining excess of the acquirer’s interest in the fair values of the identifiable assets and liabilities acquired over the cost of the acquisition as at the date of the exchange transaction.";
glossary["Banking book"] = "All positions that are not assigned to the trading book.";
glossary["BWG"] = "Austrian Banking Act.";
glossary["Cash flow"] = "Inflows and outflows of cash and cash equivalents.";
glossary["Cash flow statement"] = "Statement of cash flows during the financial year arising from operating activities, investing activities and financing activities and a reconciliation of cash and cash equivalents held at the beginning and the end of the financial year.";
glossary["CEE"] = "Central and Eastern Europe.";
glossary["CE"] = "Central Europe. For Raiffeisen International it is defined as Hungary, Poland, Slovakia, Slovenia, and the Czech Republic.";
glossary["CIS"] = "Commonwealth of Independent States, consisting predominantly of territories of the former Soviet Union.";
glossary["Clean price"] = "Price of a financial instrument without accrued interest.";
glossary["Consolidated ROE"] = "Return on Consolidated Equity, i.e. the equity attributable to the shareholders of Raiffeisen International. It is calculated by consolidated profit in relation to average balance sheet equity . Average equity is based on monthend figures and does not include current year profit.";
glossary["Country risk"] = "This comprises transfer and convertibility risk and political risk.";
glossary["Core capital"] = "Paid-in capital and reserves less intangible fixed assets and balance sheet losses and material losses during the current financial year.";
glossary["Core capital ratio"] = "This ratio's numerator is core capital  and its denominator is the basis of assessment .";
glossary["Cost/income ratio"] = "Indicator of an enterprise’s cost efficiency based on the ratio of expenses to earnings. It is calculated by comparing general administrative expenses  with operating income .";
glossary["Credit derivatives"] = "Instruments designed to transfer credit risk arising from loans, bonds and other risk assets or market risk items to another party.";
glossary["Credit exposure"] = "Comprises all on-balance-sheet exposures  and off-balancesheet exposures  that expose Raiffeisen International to credit risk.";
glossary["DBO"] = "Defined benefit obligation, i.e. the present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.";
glossary["Default risk"] = "Risk that counterparties in a financial transaction will not be able to fulfill an obligation, causing the other party a financial loss.";
glossary["Deferred tax assets"] = "The amounts of income taxes recoverable in future periods in respect of deductible temporary differences, the carry forward of unused tax losses, and the carry forward of unused tax credits.";
glossary["Deferred tax liabilities"] = "The amounts of income taxes payable in future periods in respect of taxable temporary differences.";
glossary["Derivatives"] = "Financial instruments whose value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, a credit rating or credit index, or other variable, that requires no initial net investment or small initial net investment and that is settled at a future date.";
glossary["Dirty price"] = "Price of a financial instrument including accrued interest.";
glossary["Earnings per share "] = "Profit attributable to ordinary equity holders  divided by the weighted average number of ordinary shares outstanding during the period.";
glossary["Excess cover ratio"] = "Relation of excess own funds to total own funds requirement.";
glossary["Fair value"] = "The amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.";
glossary["Fiduciary business"] = "Transactions which are carried out by a trustee, often banks, on own name but on account of the beneficiary.";
glossary["Finance lease"] = "A lease that transfers substantially all the risks and rewards incidental to ownership of an asset.";
glossary["Futures"] = "Standardized forward contracts traded on a stock exchange under which a commodity traded in a money, capital, precious metal or currency market is to be delivered or accepted at a price fixed in an exchange environment.";
glossary["Goodwill"] = "Any excess of the cost of the acquisition over the acquirer’s interest in the fair value of the identifiable assets and liabilities acquired as at the date of the exchange transaction.";
glossary["Gross investment value"] = "The aggregate of minimum lease payments receivable by the lessor under a finance lease and any unguaranteed residual value accruing to the lessor.";
glossary["Hedging"] = "Designating one or more hedging instruments so that their change in fair value is an offset, in whole or in part, to the change in fair value or cash flows of a hedged item.";
glossary["Held-for-trading"] = "Securities held for trading purposes to take advantage of short-term market fluctuations.";
glossary["Held-to-maturity"] = "Financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity.";
glossary["HGB/UGB"] = " Commercial Code.";
glossary["IFRIC, SIC"] = "International Financial Reporting Interpretation Committee: Interpreter of the International Financial Reporting Standards, formerly also SIC .";
glossary["IFRS, IAS"] = "The International Financial Reporting Standards or International Accounting Standards are reporting standards published by the IASB  with the goal of achieving transparent and comparable accounting on an international basis.";
glossary["Interest margin"] = "Net interest income in relation to average balance sheet total.";
glossary["Investment property"] = "Property,  which are held to earn rentals or for capital appreciation or both.";
glossary["IPO"] = "Initial public offering.";
glossary["Liquidity risk"] = "Risk that the bank could be unable to meet its current and future financial obligations in full or in good time. This arises from the danger that e.g. refinancing can only be obtained at very disadvantageous terms or is entirely impossible.";
glossary["Loss rate"] = "Usage of previously allocated loan loss provisions plus direct write-downs and income received on written-down claims divided by total credit exposure.";
glossary["Market capitalization"] = "The number of issued shares multiplied by the share price.";
glossary["Market risk"] = "The risk that the value of a financial instrument will fluctuate because of changes in market prices whether those changes are caused by factors specific to the individual security or its issuer or factors affecting all securities traded in the market.";
glossary["Net provisioning ratio "] = "Risk valuation ratio. Is calculated by provisioning for impairment losses divided by average risk-weighted assets of the banking book.";
glossary["Net provisioning ratio "] = "Risk valuation ratio. Is calculated by provisioning for impairment losses divided by the total credit exposure.";
glossary["Operating lease"] = "Lease under which commercial and legal ownership remains with the lessor with the effect that the lessor must show the asset on its balance sheet.";
glossary["Operating profit/loss"] = "In IFRS-compliant financial statements, it consists of operating income net of general administrative expenses. Operating income comprises net interest income, net commission income, trading profit/loss and other operating profit/loss. General administrative expenses comprise staff expenses and other administrative expenses and depreciation/amortisation of tangible and intangible fixed assets.";
glossary["Operational risk"] = "Risk of unexpected losses resulting from inadequate or failed internal processes, people and systems or from external events, including legal risk.";
glossary["Options"] = "Instruments that give the holder the right to purchase the underlying from a contracting party at an agreed price and at an agreed time or within an agreed period  or to sell the underlying to a contracting party at an agreed price and at an agreed time or within an agreed period .";
glossary["OTC instruments"] = "Financial instruments that are neither standardized nor traded on a stock exchange. They are traded directly between market participants over-thecounter.";
glossary["Own funds according to BWG"] = "Consist of core capital , additional and subordinated capital  and short-term subordinated capital and rededicated tier 2 capital .";
glossary["Own funds ratio"] = "The ratio’s numerator is own funds within the meaning of the Austrian Banking Act  and its denominator is the basis of assessment pursuant to section 22 BWG plus 12.5 times the own funds required as cover for the trading book and open currency positions.";
glossary["Own shares"] = "Repurchased equity instruments  held by the issuing entity itself or by its subsidiaries.";
glossary["Plan assets"] = "Assets held by a long-term employment benefit fund.";
glossary["Portfolio-based loan loss provisions"] = "Impairment provisions for portfolios of loans with identical risk profiles that may be compiled under certain conditions.";
glossary["Portfolio rate"] = "Total provisions for impairment losses divided by total credit exposure.";
glossary["Projected unit credit method"] = "An actuarial valuation method defined by IAS 19 that sees each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation .";
glossary["Raiffeisen International"] = "The Group of Raiffeisen International Bank-Holding AG.";
glossary["Repurchase agreement"] = "During a genuine repurchase transaction , the enterprise sells assets to a counterparty and concurrently agrees to reacquire the assets at an agreed time and at an agreed price.";
glossary["Risk-weighted assets "] = "Comprises the basis of assessment within the meaning of section 22 of the Austrian Banking Act  plus 12.5 times the own funds required as cover for the trading book and open currency positions.";
glossary["Risk-weighted assets of the banking book"] = "According to the Austrian Banking Act  these are on-balancesheet assets, off-balance-sheet and special off-balancesheet banking book asset positions weighted by business and counterparty risk, respectively.";
glossary["Risk/earnings ratio"] = "Risk valuation ratio. Is calculated by provisioning for impairment losses divided by net interest income.";
glossary["ROE "] = "Return on the total equity including minority interests, i.e. profit before tax respectively after tax in relation to weighted average  balance sheet equity. Average equity is calculated on month-end figures and does not include current year profit.";
glossary["RZB"] = "Raiffeisen Zentralbank Österreich AG Group.";
glossary["RZB-Kreditinstitutsgruppe"] = "Pursuant to section 30 of the Austrian Banking Act , RZB-Kreditinstitutsgruppe  is made up of all banks, financial institutions, securities companies and companies rendering bankingrelated services in which Raiffeisen Zentralbank holds direct or indirect interests or has control as a superordinate institution.";
glossary["Securitization"] = "Special type of refinancing and the packaging of designated portfolios of loans or leasing claims with an appropriate level of credit enhancement and the redistribution of these portfolios to investors.";
glossary["Segment reporting"] = "Disclosure of earnings and asset data for business segments  and geographical areas .";
glossary["SEPA"] = "Single European Payments Area. This is a project to create a European-wide standardized payment area. In this payment area there is no distinction between crossborder and national payments for customers anymore.";
glossary["Share-based remuneration"] = "Performance-based allotments of company shares for eligible employees for a given period of time.";
glossary["Splitting"] = "A procedure that is particularly common in U.S. investment banking where equities that have become very highly priced are split into two or more shares or share certificates.";
glossary["SPO"] = "Secondary public offering; capital increase.";
glossary["Stress tests"] = "Stress tests endeavour to simulate extreme fluctuations in market parameters. They are used because such fluctuations are usually inadequately captured by VaR models .";
glossary["Subprime loans"] = "Mortgage loans given to borrowers who do not qualify for the prime market interest rate due to their low creditworthiness. Subprime loans are characterized by a relatively high risk of loss.";
glossary["Swap"] = "Exchange of interest obligations  and/or currency positions.";
glossary["Tax rate"] = "Relation of income taxes to profit before tax.";
glossary["Total shareholder return"] = "Is a ratio illustrating the development of a share investment over a period considering the dividends and increases in share price.";
glossary["Trading book"] = "Bank regulators’ term for assets held by a bank for short-term resale to exploit fluctuations in prices and interest rates.";
glossary["VaR"] = "Value at risk expresses the potential loss that will, with a 99 per cent probability, not be exceeded within the period for which an asset is held in the portfolio in question.";