Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Term	Abbreviation	Description
Accepted Level of Risk	ALR	Accepted level of risk is the level of potential losses that an institution considers acceptable in a given content.
Access to Credit (in BOS)		Indicates the accessibility of bank credit during the current quarter
Accommodative monetary policy stance
Active Liability Management Act	ALMA
Ad valorem duty		Duty levied as a percentage of value of the goods being imported.
Advance payment		Paying or part-paying a supplier before goods or services are delivered.
Agriculture Value Chain	AVC	Different segments and their connectivity in agriculture sector.
All Share Price Index	ASPI
AMD 01		Letter to be sent to the EPF Department to rectify the discrepancy between the name of a member who has already been sent through RR 06 form & the name in accordance with the National Identity Card.
AMD 02		Letter to be sent if there is a discrepancy between the National Identity Card number of a member who has already been sent through RR 06 form & the number according to the National Identity Card.
Annual average basis Inflation		The percentage change of the average CPI of last 12 months and the averge CPI of previous 12 months.
Anti-Money Laundering and Countering the Financing of Terrorism	AML/CFT	Anti-money laundering refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Combating the Financing of Terrorism is a set of government laws, regulations, and other practices that are intended to restrict access to funding and financial services for those whom the government designates as terrorists.
Application System 400	AS/400	Application System 400 (AS/400) is a server operating platform developed by IBM.
Asia Pacific Group on Money Laundering	APG	The Asia/Pacific Group on Money Laundering is an inter-governmental organisation, consisting of 41 member jurisdictions, focused on ensuring that its members effectively implement the international standards against money laundering, terrorist financing and proliferation financing related to weapons of mass destruction.
Asian Development Bank	ADB
ASL Balancing		EPF annual balancing of accounts & credit of annual interest to member accounts.
Asset-Backed Securities	ABS	Asset-Backed Security is a security whose payments are backed by a specified pool of assets such as loans, receivables, and mortgages.
Assistant Commissioner of Labor	ACL
Authentication		The identification process that verifies a user as the person he/she claims to be
Authorized Dealer	AD	A bank licensed under the Banking Act, No. 30 of 1988 authorized under section 4 of the Foreign Exchange Act, No.12 of 2017 as authorized dealer to deal in foreign exchange
Authorised Money Brokers	AMBs	Authorised Money Broker (AMB) is a financial intermediary engaged in the business of money broking, foreign exchange broking, inter - bank money broking, in respect of transactions of financial products with clients in the money, securities and foreign exchange markets in Sri Lanka and other recognised international markets issued with the Certificate of Authorisation under the Money Broking Regulations No. 01 of 2013.
Automated Teller Machine	ATM	An automated electromechanical device operated by the cardholder, commonly using a payment card and PIN verfication, for online transactions such as withdrawing cash and/or for other services such as balance inquiry and fund transfer.
Average Time to Maturity	ATM	Weighted average time to maturity of all the debt securities/loans in the debt portfolio.
Average Time to Refixing	ATR
Average Weighted Call Money Rate	AWCMR	Weighted average of interest rates of overnight call money market transactions (uncollateralised) between Licensed Commercial Banks (LCBs) on a given day, which is computed and published by the CBSL on each working day. AWCMR is also CBSL’s operating target under the existing monetary policy framework.
Average Weighted Deposit Rate	AWDR	AWDR reflects the movements in interest rates pertaining to all outstanding interest bearing rupee deposits held with LCBs.
Average Weighted Fixed Deposit Rate	AWFDR	AWFDR is based on interest rates pertaining to all outstanding interest bearing rupee time deposits held with LCBs.
Average Weighted Lending Rate	AWLR	AWLR is based on interest rates of all outstanding rupee loans and advances extended by LCBs.
Average Weighted New Deposit Rate	AWNDR	AWNDR is based on interest rates pertaining to all new interest bearing rupee deposits mobilised by LCBs during a particular month
Average Weighted New Fixed Deposit Rate	AWNFDR	AWNFDR is based on interest rates pertaining to all new interest bearing rupee time deposits mobilised by LCBs during a particular month
Average Weighted New Lending Rate	AWNLR	AWNLR captures interest rates of all new rupee loans and advances extended by LCBs during a particular month
Average Weighted New SME loan Rate	AWNSR	AWNSR captures interest rates of all new rupee loans and advances extended by licensed banks during a particular month to MSMEs, excluding refinance schemes of the Government and the Central Bank
Average Weighted Prime Lending Rate	AWPR	AWPR is based on interest rates applicable to short term rupee loans and advances granted by LCBs to their prime customers during a particular week
Average Weighted SME loan Rate	AWSR	AWSR is based on interest rates of all outstanding rupee loans and advances extended by licensed banks to MSMEs, excluding refinance schemes of the Government and the Central Bank
Average Weighted Repo Rate	AWRR	Weighted average of interest rates of overnight repo transactions (collateralized by government securities) between Participating Institutions (PIs) on a given day, which is computed and published by the CBSL on each working day.

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Term	Abbreviation	Description
Back Office	BO	Back office is responsible for the payment & settlement activities relating to the transaction carried out by Front Office.
Balance of Payments	BOP
Balance of trade		The difference between a country’s total exports and imports for a specific time period.
Bank Identifier Code	BIC	Bank Identifier Code (BIC) is a 8 to 11 character code used to identify a specific bank used in a SWIFT transaction.
Bank Rate		Bank Rate is an administratively determined rate that could be used in periods of emergency for the Central Bank to grant extraordinary loans or advances to LCBs
Bank Supervision Department	BSD
Banking Soundness Index	BSI	An indicator that has been developed to assess the soundness of the banking sector, which is a key component of the financial system with respect to financial stability.
Basis Points	BPS
Basket of currencies
Before Tax	BT
Benchmark		A benchmark is a standard measure with which the comparison of risk and performance of investments can be made.
Benchmark Bond		A bond that provides a standard against which the performance of other bonds can be measured. Government bonds are often used as benchmark bonds. This is also referred to as “benchmark issue”.
Bilateral Currency Swap Agreement	BCSA	An agreement under which two central banks agree to acquire each other's currency/another currency (other than the own currency of the other central bank) in exchange for its own, either up to a pre-agreed limit or in unlimited amount.
Bilateral trade agreement		A formal agreement involving trade between two countries.
Blockchain Technology		Blockchain technology is a distributed, ledger system that promotes decentralization, transparency, and data integrity
Board of Investment	BOI
Board Risk Oversight Committee	BROC
Bond Borrowing Scheme	BBS	A special scheme used by the CBSL to absorb excess liquidity in the domestic money market using securities borrowed from a third party at times when the stock of Treasury bills and Treasury bonds held by the CBSL is not adequate to conduct repurchase transactions under open market operations (OMOs). Currently, the CBSL is only permitted to borrow securities from the Employees’ Provident Fund under BBS.
Book Value	BV	Value of government securities at the market prices
Brilliant Uncirculated Coins		Coins typically produced the same way as circulated coins but with quality enhancements to create brilliant finish
Broad money (M2b)		Includes narrow money supply, time and savings deposits held by the public with commercial banks and also includes a part of foreign currency deposits of commercial banks
Budget deficit
Bunching of Debt Stock		An excessive amount of debt maturing on a given date or within a given period of time.
Business Condition (in BOS)		Indicates the general business condition during the current quarter and the expectation for the next quarter
Business Continuity		The process performed to ensure that critical functionalities of systems are available to users without disruption even through disasters
Business Continuity Plan	BCP
Business Foreign Currency Account	BFCA	Foreign Currency Account for persons resident in Sri Lanka who earn foreign exchange from a resident outside Sri Lanka.
Business friendly tax regime
Business Outlook Survey	BOS	BOS is a quarterly survey which captures the sentiments of the corporate sector covering all three major sectors of the economy with respect to current and expected developments of key areas of business activities, which serve to monitor the ongoing status of the economy.

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Term	Abbreviation	Description
Capacity Utilisation (in BOS)		Indicates the capacity utilised (labour, facilities etc.) during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Capital Adequacy Ratio	CAR
Capital Transaction		A transaction which is not a current transaction within the meaning of the Foreign Exchange Act, No.12 of 2017
Capital Transactions Rupee Account	CTRA	Account which has been introduced to facilitate emigrants, non-nationals resident in or outside Sri Lanka and resident persons who intend to migrate/depart from Sri Lanka, to repatriate their eligible migration allowance and other eligible proceeds outside Sri Lanka.
Cardholder		Any person authorized to use a payment card issued by an card Issuer
Card Issuer		An entity which issues a payment card and thereby enters into a contractual relationship with the cardholder
Card Verification Value	CVV	Card Verification Value refers to a number, which is commonly depicted with three digits on the back of a payment card. The CVV is generally used when the cardholder is not physically present when making a payment (Eg; online card transactions).
Cash Deposit Machine	CDM	A self service device/terminal that allows customers to deposit cash and make payment transactions using cash
Cash Recycling Machine	CRM	A device/terminal that allows customers to deposit and withdraw cash, similar to an ATM
CBSL holdings of government securities
CCPI Core	CCPI Core	Excluding Volatile Food, Energy and Transport from the CCPI basket
Central Bank Digital Currency	CBDC	Fiat currency issued by a central bank in digital form as an electronic record or digital token
Central Bank Intervention in Foreign Exchange Market		Central bank buys and sells foreign exchange in the foreign exchange market with objectives to prevent excessive volatility in the exchange rate and/or to maintain an adequate level of external reserves.
Central Bank of Sri Lanka	CBSL
Central Counterparty	CCP	A central counterparty interposes itself between counterparties to contracts traded in one or more financial markets, becoming the buyer to every seller and the seller to every buyer and thereby ensuring the performance of open contracts. A CCP becomes counterparty to trades with market participants through novation, an open-offer system, or through an analogous legally binding arrangement. CCPs have the potential to reduce significant risks to participants through the multilateral netting of trades and by imposing more-effective risk controls on all participants and, as a result, they can reduce systemic risk in the markets they serve.
Central Depository System	CDS	The system which electronically records the ownership of government of Sri Lanka debt securities and Central Bank of Sri Lanka Securities issued in scripless form. This is system is owned and operated by Central Bank of Sri Lanka
Central Integrated Market Monitor	CIMM	A reporting platform provided by CBSL to PIs, which is used to record all money market transactions on near real time basis and the details of liquidity position of PIs
Central Securities Depository	CSD	A system which electronically records the ownership of Securities issued in scripless form.
Centre for Banking Studies	CBS
Certificate of Authorisation	COA	An Authorisation certificate issued by the Monetary Board of the CBSL to only a limited liability company registered under the Companies Act No. 07 of 2007 to engage in the business of money broking.
Ceylon Electricity Board	CEB
Ceylon Petroleum Corporation	CPC
Charge Card		A payment card which involves a line of credit granted by the issuer to the cardholder where the credit utilized by the cardholder must be settled fully on or before a date specified by the issuer, without any extended credit
Cheque Imaging and Truncation System	CITS	An interbank system operated by LankaClear (Pvt) Ltd (LCPL) that enables the clearing of cheques by presenting the cheque image instead of the physical cheque.
Chief Compliance Officer	CCO
Chief Risk Officer	CRO
Circulation Standard Commemorative Coins		Commemorative coins that are issued into circulation for transaction in which the monetary value equals the face value of the coin
Claims Adjuster (Loss Adjuster)		Investigates insurance claims to determine the extent of insuring a company's liability.
Claims Ratio		The percentage of claims costs incurred in relation to the premiums earned.
Clean Note Policy		Ensure the availability of good quality notes in circulation
Clearing Cycle		Time period predefined by the payment system operator for netting of transactions for settlement
Clearing house		A corporation, association, partnership, agency or organization or other entity or person that provides clearing or settlement services for payment instructions and/or security transactions
Clearing system		Mechanism for the exchanging and processing of obligations to make payment or the transfer of securities among banks and other financial institutions for the purpose of settling them
Coinage		A collection of denominations of coins issued into circulation
Collateral		Collateral is a security of asset accepted by lenders from borrowers to protect in an event of defaults. If a borrower failed to honor the obligations, the lender can use the pledged collaterals to claim against the loss incurred due to defaults.
Colombo Consumer Price Index	CCPI	CCPI demonstrates the price movment of selcted goods and services consumed by urban households of the Colombo district.
Colombo Port City Investment Accounts (Investor/Investee)	CPCIA	CPCIAs was introduced under the Directions No. 06 of 2022 and 07 of 2022. There are two types of accounts available under this account category
Colombo Stock Exchange	CSE
Combined Ratio		A measure of profitability used by an insurance company to gauge how well it is performing in its daily operations. The combined ratio is calculated by taking the sum of incurred losses and expenses and then dividing them by the earned premium.
Commemorative Notes and Coins		A currency note or coin issued to commemorate the significance of the contribution of a person or a special event to the wellbeing of the Sri Lankan society
Commercial banks' deposits with the Central Bank
Commercial Papers		Commonly used type of short-term debt instrument issued by corporations, typically used for the financing short-term liabilities.
Commercial Scale Dairy Development Loan Scheme	CSDDLS
Commodity Exports Subsidy Scheme	CESS
Common Electronic Fund Transfer Switch	CEFTS	An electronic fund transfer switch , which facilitates domestic interbank real-time fund transfers between customers of financial institutions connected to the system through payment channels such as Internet Banking, Mobile Banking, Kiosks, Over the Counter (OTC) and Automated Teller Machines (ATMs)
Common POS Switch	CPS	An electronic system operated by LankaClear (Pvt) Ltd (LCPL) that links Point of Sales (POS) of its members to facilitate switching and clearing of not-on-us POS transactions
Communications Department	CMD
Compliance Monitoring Officer	CMO
Complaint Reference Number	CRN
Complaint Submission Form	CSF
CON TOT Checking		Checking the balance not credited into the member accounts & remained at employer account prior to the annual account balance.
Condominium Market Survey	CMS	CMS is carried out by the Statistics Department of the CBSL targeting the condominium developers on a quarterly basis with the objective of obtaining market information including sales transaction data, required to be used in informed decision making process and in property price index compilation process. A summary report compiled based on the information obtained through the survey is published on the CBSL website on a quarterly basis.
Confidence Intervals	CI
Consolidated Operating Instructions	COI	A circular, which outlines operating instructions relating to OMOs of the CBSL
Consumer price inflation
Contactless payments		Refers payments by using technologies such as radio frequency identification (RFID) and near-field communication (NFC) enabled in payment cards or other devices
Contagion Risk		Transmission of financial difficulties in one or many financial institutions to a large number of other financial institutions or to the entire financial system. Financial Interconnectedness acts as a conduit for contagion.
Conversion of export proceeds
Contribution detail file for paying through electronic media	EVEMC
Core Inflation		Measures excluding Volatile Food, Energy and Transport from the headline index
Corporate Debt Instruments	CDI
Corporate Debt Market
Corporative Wholesale Establishment	CWE
Corridor of interest rates
Cost, Insurance and Freight	CIF	An inco term, which means cost, insurance, freight included in the price.
Counterfeit/ Forged Notes		Currency issued into circulation by any person or establishment other than the Central Bank of Sri Lanka, in a deliberate attempt to imitate the currency to deceive its recipient
Counterparty		An individual or an entity on the other side of a financial contract or a transaction.
Counterparty Credit Risk Management Guideline	CCRMG
Coupon		The interest payment made to bond holders during the lifetime of the bond. Coupon payments are usually paid semi-annually. The annual amount of interest is equal to the principal value times the coupon rate.
Credit Card		A payment card which involves a line of credit granted by the issuer to the card holder, where the credit utilized can be settled in full or in part on or before a specified date. The issuer may charge interest or other charges on any amount not settled on the specified date
Credit Guarantee/Credit Guarantees	CG/CGs	One of the tools for credit risk mitigation and credit enhancement. The guarantee is issued by the CBSL as the agent of the GOSL or acts on behalf of the GOSL and it covers the risk of default by borrowers. If the borrower fails to repay what he borrowed by financial institutions, the financial institutions could resort to Credit Guarantee Scheme to recover the losses incurred by him due to the default by the borrower.
Credit Risk		Credit risk is the possibility of a loss due to failure of a borrower to repay full or part of their financial obligation when due.
Credit Supply survey	CSS	CSS is a survey to capture the recent developments and forward-looking information on the credit activities of all licensed commercial banks and licensed specialised banks in the country on a quarterly basis.
Criminal Investigation Division	CID
Cross Currency		A currency pair that does not involve the US dollar as the base or the quoted currency. A cross currency transaction, for example, doesn't use the U.S. dollar as a contract settlement currency.
Currency		All currency notes and coins issued or circulating in the country in accordance with the Monetary Law Act No. 58 of 1949
Currency Department	CRD
Currency in Circulation	CIC	The physical amount of currency notes and coins held by the public (Including Licensed Commercial Banks and other Financial Institutions) at a given time
Currency Note Processing System	CNPS
Current Transaction		Any international transaction necessitating a transfer of foreign exchange into or from Sri Lanka, and referred to in paragraph (d) of Article XXX of the Articles of the International Monetary Fund
Custodians in terms of Financial Transactions		Clearing members who settle trades on behalf of their clients that are executed through other trading members.
Customer Account based Mobile Payment System		A mobile phone based payment system operated by a Licensed Commercial Bank, a Licensed Specialized Bank or a Finance Company that provides a means of access to customer accounts maintained with such financial institutions
Customer Due Diligence	CDD	Customer due diligence is the process of (a) Identifying the customer and verifying that customer’s identity using reliable, independent source documents, data or information. (b) Identifying the beneficial owner and taking reasonable measures to verify the identity of the beneficial owner. (c) Understanding and, as appropriate, obtaining information on the purpose and intended nature of the business relationship. (d) Conducting ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution’s knowledge of the customer, their business and risk profile, including, where necessary, the source of funds.

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Term	Abbreviation	Description
Damaged/ Mutilated Notes		Currency note which has been reduced in its original size due to wear and tear, burnt, decomposed, shredded, torn, and where security features, date on note, serial number and signature are tampered with, by accident or by various natural disasters
Data Library		Data Library consists of time series data on a variety of areas spanning across Real, Monetary, Fiscal, External and Financial sectors collected from several internal Departments of the Central Bank and several external institutions.
Data Warehouse		A data storage architecture that enables business intelligence activities to be performed on stored data
Deal in foreign exchange		Accepting, buying, selling, borrowing, and lending of foreign exchange and exchange to any other foreign currency for the purposes under the Foreign Exchange Act, No. 12 of 2017
Dealer Direct Participant	DDP	A Direct Participant appointed as a Dealer Direct Participant by CBSL in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance. Dealer Direct Participant shall have the access to maintain securities accounts in the CDS and effect transfers of Scripless Securities on its own behalf or on behalf of its Customers.
Dealing Unit	DU
Debentures
Debit Card		A payment card that may be used to withdraw cash and/or execute payments for purchase of goods and services, by directly debiting from the credit balance of the cardholder’s account
Debt moratoria
Debt service obligations
Debt Sustainability		The level of debt which allows a debtor country to meet its current and future debt service obligations in full, without recourse to further debt relief or rescheduling, avoiding accumulation of arrears, while allowing an acceptable level of economic growth.
Declaration		Declaration to the Department of Customs where foreign exchange exceeds USD 15,000 or its equivalent in other foreign currencies or an appropriate declaration to an Authorized Dealer where such foreign exchange is less than or equals USD 15,000 or its equivalent in other foreign currencies
Delivery Versus Payment	DVP	Transfer (delivery) of ownership of securities and the underlying transfer of funds are realized simultaneously on real time.
Delivery Versus Payment I	DVPI	Transfer of ownership of securities are realized and the underlying transfer of funds are realized on gross basis in real-time bilaterally between PIs as final settlements.
Delivery Versus Payment II	DVPII	Transfer of ownership of securities are realized on gross (trade-by-trade) basis in real-time but the underlying transfer of funds realize on differed net basis between PIs as final settlements.
Delivery Versus Payment III	DVPIII	Transfer of ownership of securities and the underlying transfer of funds are realized on differed net settlement basis. i.e. at predetermined times of a day (based on the frequency of net settlements) open positions of securities and open positions of funds are netted multilaterally and settled between all PIs simultaneously ensuring settlement finality of transactions (irrevocable and unconditional).
Demand (in BOS)		Indicates the volume of demand during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Demand driven inflationary pressures
Demand for Bank Credit (in BOS)		Indicates the demand to obtain bank credit during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Demonetization		Withdrawal of a coin or currency note from use as legal tender by the Central Bank with an advance notice
Department of Cencus and Statistics	DCS
Department of Foreign Exchange	DFE
Department of Supervision of Non-Bank Financial Institutions	DSNBFI
Departmental Risk Officer	DRO
Deposit liabilities
Depreciation and amortisation
Deputy Commissioner of Labour	DCL
Deputy Secretary to the Treasury Account	DST	The Account which is used for handling all transactions and documents between the CBSL and the General Treasury.
Designated Foreign Currency		United States Dollars (USD); Euro; Sterling Pound; Australian Dollars; Singapore Dollars; Swedish Kroner; Swiss Franc; Canadian Dollars; Hong Kong Dollars; Japanese Yen; Danish Kroner; Norwegian Kroner; Chinese Renminbi; New Zealand Dollars and Thai Baht.
Designated Non-Finance Businesses and Professions	DNFBPs	Institutions engaged in Designated Non-Finance Businesses and Professions as defined in the Financial Transactions Reporting Act, No. 6 of 2006
Deterioration of fiscal balances
Determination Letter	DL
Digital Signature		A cryptographically generated group of data, containing an electronic message that verifies a signatory
Diplomatic Foreign Currency Account	DFCA	Foreign Currency Account for Diplomatic Missions/ Personal in Sri Lanka
Diplomatic Mission		An embassy, high commission, consulate, permanent mission of United Nations Organization, European Union delegation of the European Commission, International Monetary Fund, International Bank for Reconstruction and Development, Asian Development Bank or any other similar organization which has been recognized as a diplomatic mission by the Protocol Division of the Ministry of Foreign Affairs (MFA) from time to time
Diplomatic personnel		Citizens of a foreign country represented by the diplomatic mission
Diplomatic Rupee Account	DRA	Sri Lanka Rupee Account for Diplomatic Missions/ Personal in Sri Lanka
Direct Financial Interconnectedness		Direct Financial Interconnectedness originates from direct linkages between financial institutions through financial transactions, other obligations and relationships.
Direct Investment Enterprises	DIEs
Direct Issuance Window	DIW	The arrangement in place for direct issuances of Treasury Bonds in the Primary Market at the WAYR determined at the Primary auction and allowed for bidding during the period between primary auction and its settlement.
Direct Participant	DP	A Licensed Commercial Bank, a Primary Dealer or any other person appointed as a Direct Participant by CBSL in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance. A Direct Participant shall have the access to maintain a securities account in the CSD and effect transfers of Scripless Securities on its own behalf.
Director Risk Management	DRM
Disaster Recovery		A subset of Business continuity, that refers to the procedures involved in recovering data, technology and systems through any disaster situation
Disaster Recovery Site	DRS
Disbursed Outstanding External Debt	DOD
Disinflation path
Dissavings of the government
District Office Code	D/O Code
Dividend payments
Doing business environment
Domain		A network of computers and devices controlled by an authority according to its regulations and guidelines
Domestic Agriculture Development	DAD
Domestic Agriculture Development - Pilot Project	DAD-PP
Domestic Banking Unit	DBU
Domestic Debt Management Committee	DDMC
Domestic Inter-Bank Foreign Exchange Market		The market where foreign currency is traded between all authorized dealers in foreign exchange, which comprises from all licensed commercial banks and National Savings Bank. This market helps to manage foreign exchange liquidity within the banking system through currency conversion.
Domestic foreign exchange market
Domestic Operations Bond Borrowing Account	DOBB	The account which, Treasury bonds borrowed under the BBS from a third party are transferred temporarily enabling CBSL to use the Treasury bonds for OMOs.
Domestic Operations Department	DOD
Domestic money market
Drawal of a Swap Transaction		Exchanging of swap currencies between the requesting party and the providing party, under the terms and conditions stipulated in a swap agreement.
Duration (Public Debt)		The weighted average maturity of the cash flows of a debt security/portfolio.
Duration (Risk Management)		Duration is a market risk parameter used to measure the price sensitivity of a financial instruments or a portfolio to interest rate changes.
DVPIII		Simultaneous Net Settlement of Securities and Funds Transfers. These systems settle transfer instructions for both securities and funds on a net basis, with final transfer of both occurring at the end of the processing cycle. Settlement may occur once a day or several times a day.

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Term	Abbreviation	Description
Economic and Social Statistics of Sri Lanka	ESS	Statistics Department of the CBSL has been publishing ESS on an annual basis, with the objective of providing a single source of information that contains economic and social statistics related to Sri Lanka and neighbouring countries. The booklet is available in both printed and electronic formats and in all three official languages.
Economic History Museum	EHM
Economic Research Department	ERD
Electronic Fund Transfer Card	EFTC	A card or a device that enables the user to transfer value in credit, debit or any other form and includes credit cards, debit cards and stored value cards where transaction details could be identified by the ADs for the purposes of being compliant with the provisions of the FEA
Electronic Return	e-Return
Electronic Trading	E-Trading	It is an electronic mechanism which enables traders to connect, place orders and conduct trading activities of eligible instruments such as securities, derivatives and commodities.
Electronic Trading Platform	ETP	The electronic platform which facilitates Electronic Trading.
Emigrant		An individual Sri Lankan who has obtained Permanent Residency status or Citizenship in another country, a dual citizen of Sri Lanka whose mother or father was born in Sri Lanka, a non-Sri Lankan citizen whose mother or father was born in Sri Lanka and whose birth has been registered in Sri Lanka, including minors of the said persons.
Emigrants’ Remittable Income Account	ERIA	An account introduced for the purpose of repatriation of current income derived in Sri Lanka by an emigrants, only if there is a regulatory requirement in the country where the emigrant is residing permanently, to identify the current income globally derived by such emigrant.
Employed Population		Persons who worked at least one hour during the reference period, as paid employees, employers, own account workers or contributing family workers are said to be employed. This also includes persons with a job but not at work during the reference period.
Employee Share Ownership Plan/ Employee Share Option Scheme		A plan or a scheme under which a company incorporated outside Sri Lanka offers an opportunity to acquire its shares or shares of the group of companies, to employees of its branch or subsidiary in Sri Lanka
Employees' Provident Fund	EPF	A mandatory defined contribution retirement scheme for the private and semi-government sector employees who do not enjoy pension benefits. It is the largest superannuation fund in Sri Lanka.
Employees' Provident Fund Department	EPF
Employees' Trust Fund	ETF	All public sector employees who are not entitled to the Govt. Pension Scheme and all private sector employees are members of this Fund while their employers are required to remit 3% of the gross earnings of their employees to the Fund, monthly. Hence, unlike the EPF, only the employer makes a contribution on behalf of the employee/member and hence, it is a non-contributory benefit to the member.
Employment (in PMI)		Number of employees working for the organisation
EMVCo		EMV stands for Europay, MasterCard and Visa, a global standard that provides specifications for payment chips and other payment technologies
Enterprise-wide Risk Management	ERM	Enterprise-Wide Risk Management is the overall management of risk that an organization takes and holds to achieve its strategic objectives.
Environmental Social and Governance	ESG	ESG is a framework designed to be embedded into an organization’s strategy that considers the needs and ways in which to generate value for all of organizational stakeholders
EPF Investment Committee	EIC
EPF Investment Oversight Committee	EIOC
Europian Investment Bank	EIB
Exchange Rate Movements
Expected Loss	EL	Expected loss is a credit risk measure which calculates as the sum of the possible losses multiplied by the probability of occurring that loss.
Expert Panel Discussions	EPD	Discussion centered around a timely topic contributed by Speakers and Panelists representing different aspects of a particular subject with economic interest.
Export Development Board	EDB
Export Unit Value Index		The ratio between export value index and export volume index.
Export Value Index		The ratio of the export values between the current period and the base period.
Export Volume Index		The ratio of the export quantities between the current period and the base period
Extended Fund Facility	EFF
External Commercial Borrowing Account	ECBA	Account maintained by the resident borrower (other than Licensed Commercial Banks, Licensed Specialized Bank, the Government of Sri Lanka and State owned enterprises) to credit proceeds of the foreign borrowings obtained by persons resident outside Sri Lanka, under the provisions of the Foreign Exchange Act, No. 12 of 2017
External current account deficit
External Manager		An entity who is retained by the Monetary Board or an Investment Vehicle to manage a portfolio of securities or other assets for various objectives including return enhancement, diversification and/or for technical knowhow.

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Term	Abbreviation	Description
Face Value	FV	Value of government securities at maturity.
Facilities Management Department	FMD
Fan chart		A chart representing realised data and forecasts of a given variable, together with confidence bands for forecasts, highlighting the uncertainty over the same
Federal Fund Target Rate	FFTR	The Federal fund rate that sets by the Federal Open Markets Committee (FOMC). This rate is used to guide overnight lending among U.S. banks and is set as a range between an upper and lower limit.
File Transfer Protocol	FTP	A set of rules followed by computers when transferring files over the internet from one system to another
Finance Department	FD
Financial Action Task Force	FATF	The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. The FATF has developed the FATF Recommendations, or FATF Standards, which ensure a co-ordinated global response to prevent money laundering, terrorist financing, funding for weapons of mass destruction and organised crimes and corruptions. The FATF monitors countries to ensure they implement the FATF Standards fully and effectively and holds countries to account that do not comply.
Financial Acquirer		Any person who makes arrangements with third parties to accept payment cards of cardholders as a means of payment and reimburses those third parties with the value of the goods or services purchased by the cardholder, and/or who reimburses such third parties for cash advances obtained by the cardholders
Financial Consumer Protection	FCP
Financial Consumer Relations Department	FCRD
Financial Inclusion Survey	FIS
Financial Information Network	FInNet	Financial Information Network (FInNet) is a system which facilitate to collect regulatory reporting data from Licensed Commercial Banks (LCBs), Primary Dealers (PDs) and Leasing Companies daily, weekly, monthly, quarterly and annual basis
Financial Institutions	FIs	Institutions engaged in finance business as defined in the Financial Transactions Reporting Act, No. 6 of 2006
Financial Intelligence Unit	FIU	The Financial Intelligence Unit of Sri Lanka was established in March 2006 in terms of the provisions of the Financial Transactions Reporting Act No. 06 of 2006 (FTRA) under the Ministry of Finance. The FIU functions as an independent institution within the administrative structure of the CBSL in terms of the order made by H.E the President under the FTRA to combat money laundering, terrorist financing and other related crimes in Sri Lanka in line with international recommendations and standards.
Financial Interconnectedness		Financial interconnectedness is the network of financial linkages resulting from credit exposures, trading links, other relationships and dependencies between financial Institutions. Financial Interconnectedness is an important dimension of systemic Risk. Financial interconnectedness is of two folds viz. direct financial interconnectedness and indirect financial interconnectedness.
Financial Intermediary	FI	The process of channeling funds between parties who has surplus funds and fund deficits.
Financial Risk		Financial risk is a risk of loosing the value of investments due to certain expected and unexpected factors and can broadly be categorized as market, credit, liquidity and operational risk.
Financial Service Provider	FSP
Fintech		The technology and innovation that aims to support or enable banking and financial services
Firewall		A guarding barrier in between networks that blocks unauthorized communication coming from outside networks including the internet
Fiscal Consolidation
Fiscal Management (Responsibility) Act	FMRA
Fiscal stimulus measures
Fitch Ratings	Fitch
Fixed Deposit	FD
Fixed Income Quote	FIQ
Fixed Income Securities	FIS	Fixed income securities are instruments which give fixed and regular stream of cash flow to the investor.
Flexible Inflation Targeting	FIT	Monetary policy conducted under a flexible inflation targeting (FIT) framework is aimed at stabilising inflation around the inflation target while minimising disturbance to the real economy
Floating Rate Bond		A bond that has a variable coupon equal to a money market reference rate, like LIBOR plus a spread. The spread is a value that remains constant.
Forecasting and Policy Analysis System	FPAS	A system of tools and related processes designed to support forward-looking monetary policy formulation based on economic data and analyses
Foreign airline		Any ‘foreign air operator’ within the meaning of the Civil Aviation Act, No. 14 of 2010 (as amended) which is a resident outside Sri Lanka
Foreign Currency		Any currency other than Sri Lankan currency.
Foreign Currency SWAP
Foreign Currency Term Financing Facility	FCTFF
Foreign Direct Investment	FDI
Foreign Exchange Act, No. 12 of 2017	FEA
Foreign Exchange Cash Transaction	CASH	Outright purchase of one currency amount against another currency, at the agreed foreign exchange rate, settled on the transaction execution date (t0).
Foreign Exchange Forward Transaction	Forward	Outright purchase of one currency amount against another currency, at the agreed foreign exchange rate, settled by delivery on an agreed future date exceeding two business days after the transaction execution date.
Foreign Exchange Tom Transaction	TOM	Outright purchase of one currency amount against another currency, at the agreed foreign exchange rate, settled on the next business day after the transaction execution date (t0+1).
Foreign inward remittances
Foreign Shipping line		Any shipping line within the meaning of the Licensing of Shipping Agency Act, No. 10 of 1972 (as amended) which is a resident outside Sri Lanka
Form ‘83’		The summary of EPF contribution payments & individual accounts performed by a relevant employer for one account year, who sent C 03 form but does not send contributions electronically even with more than 150 employees.
Form ‘C 01’		The form which should be sent by the employers with more than 50 employees, who have not yet registered to submit EPF contributions electronically along with monthly EPF contributions.
Form ‘C 03’		The form which should be sent by the employers who has paid the EPF contributions on a monthly basis through C 01 form, to send the details of the contributions to be made to the members' accounts.
Form ‘C’		The form which contains the details of contributions to be made to the members accounts & forwarded along with contributions to the Department of Employees’ Provident Fund (EPF Department) by the employers with less than 50 employees on monthly basis.
Form ‘CL 01’		The form should be forwarded through Labour Department along with the ‘C’ form & the first installment to be credited under proportionate method when paying arrears EPF contributions or contributions paying after legal actions on installment basis.
Form ‘CL 02’		The form which contains the details of contributions to be sent when forwarding the relevant other installments of the EPF Contributions to the FPF Department under proportionate method when submitted the CL 01 form to the respective case.
Form ‘CL 03’		The form to be sent by the Labour Department with ‘C’ form to credit to the several installments of the EPF contributions in to individual member accounts proportionately, which are remained at the Commissioner of Labor account of the EPF Department.
Form ‘CR’		The form issued to confirm the receipt of monthly EPF contribution paid by the employers to the EPF.
Form ‘D’		An application that should be completed & submitted to the Labour Department to register their employment in the Employees Provident Fund (EPF) after a business entity has started & recruited employees.
Form ‘EM1’		This is the form that need to be submitted by an employer in for registering for submitting the EPF contributions through electronic media.
Form ‘K’		Application to be submitted to claim the refund of EPF.
Form ‘N’		The form which should be forwarded when transferring a Private Fund to the EPF Department with the approval of the Commissioner of Labor (EPF) stating the audited details of the accounts to be accounted under the EPF accounts.
Form ‘Q’		The form to be forwarded to the EPF Department with the approval of the Commissioner of Labor (EPF) to refund the erroneously paid or excess EPF contributions to the EPF within one year after payment of contributions.
Form ‘RR 02’		The form to be completed by an employer to rectify the discrepancy between the name of the National Identity Card of an employee who has already paid EPF contributions & the name of the Central Bank of Sri Lanka & re-register the member details with the EPF Department as per the information in the National Identity Card.
Form ‘RR 06’		The form to be completed & sent by the employer stating the members who are paying EPF contributions under their employer & registering them with the EPF Department as per the information contained in their National Identity Card.
Form ‘WR1’		The Application Form required to be completed & submitted to Employees’ Provident Fund (EPF) Department of Central Bank to register for the Online/ Short Message Service (SMS) balance inquiry facility. When a member obtains the EPF Online balance inquiry facility he would be able to view his current balance, contribution history, status of the refund application, status of the housing loan application.
Form ‘WR2’		The Application Form required to be completed & submitted to EPF Department of Central Bank to add new EPF member accounts to the EPF Online balance inquiry facility when he has already registered for the online balance inquiry facility.
Form 1		Sales of foreign exchange
Form 2		Purchases of foreign exchange
Free on board	FOB	An incoterm meaning the price, excluding insurance and freight.
Free trade agreement	FTA	An arrangement that establishes unimpeded exchange and flow of goods and services between trading partners, regardless of national borders of member countries.
Front office	FO	Front office is the unit which involves in trading and investment activities with counterparties.
Frosted Proof Coins		Uncirculated commemorative coin with a mirror like background with frosted design elements. Typically these coins are minted manually to bring out the details in design
Fund Management Departments	FMDs
Fund Transfer	FT

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Term	Abbreviation	Description
General Insurance		Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance.
General Sales Agent	GSA	A person authorized to carry on business as a general sales agent in Sri Lanka on behalf of a foreign airline (foreign principal) with a valid license or authorization letter issued by the Director General of Civil Aviation Authority of Sri Lanka
Generalised System of Preferences Plus Scheme	GSP+	A special component of the GSP scheme that provides additional trade incentives to developing countries already benefitting from GSP
Genuine Currency Notes		Currency notes issued by the Central Bank of Sri Lanka
Golden Paradise Foreign Currency Account	GPFCA	Special Foreign Currency Accounts in the name of foreign nationals who wish to stay in Sri Lanka on 10 years resident Visas under the “Golden Paradise Visa Programme” implemented by the Department of Immigration and Emigration
Government of Sri Lanka	GOSL
Grace Period		Period of time provided for in a loan agreement for commencement of repayment of the loan.
Grant Element		A measure of concessionally of a loan, calculated as the difference between the face value of the loan and the sum of discounted future debt service payments to be made by the borrower expressed as a percentage of the face value of the loan.
Green House Gases	GHGs	Gases that contribute to the natural greenhouse effect. The Kyoto Protocol covers a basket of six greenhouse gases (GHGs) produced by human activities that will increase the risk of global warming and climate change
Gross Domestic Product	GDP	GDP is the standard measure of estimating market value of the value added created through the production of goods and services in a country during a certain period.
Gross National Product	GNP
Gross Official Reserves	GOR	Gross Official Reserves mainly comprise of the holdings of foreign assets of the Central Bank (including gold holding), SDR holding, the country’s reserve position with the International Monetary Fund and the holdings of foreign assets of the Government.
Gross Written Premiums		Total revenue from a contract expected to be received by an insurer before deductions for reinsurance or ceding commissions.
Growth at Risk		Growth at Risk framework predicts the growth distribution of GDP conditional on an index of macrofinancial conditions. The framework quantifies macrofinancial risks in terms of growth and monitor the evolution of risks to economic activity over time.

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Term	Abbreviation	Description
Harmonized system	HS	A method of classifying goods in international trade developed by the World Customs Organization
Headline inflation		Headline inflation refers to the rate of change in the consumer price index and measures the total inflation within an economy.
High Level Seminars	HLS	Discussion centered around a timely topic with the participation of Speakers and Panelists with foreign exposure, representing different facets of a particular subject. The audience of HLS are high level professionals from the related areas
High risk premia
Host		A host machine can be a server, client or any other type of a computer that is accessible over a network
Household Income and Expenditure Survey	HIES
Housing Loan	HL
Human Resources Department	HRD
Hypertext Transfer Protocol	HTTP	A set of rules used by information systems that enables users to ineteract with World Wide Web data on the internet. When a URL is entered to the browser an HTTP instruction is sent to the web server demanding it to find and view the required web page

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Term	Abbreviation	Description
IEL		The ledger containing the balance at the end of the year in each member's accounts after balancing the annual accounts.
Immediate family members under Regulations No 1 and 4 of 2021		The parents, spouse, and children of the relevant person.
Immediate family members under Regulations No 2 of 2021		The parents, grandparents, spouse, and children of the relevant person.
Immediate family members under Regulations No 3 of 2021		The parents, grandparents, siblings and spouse of the relevant person.
Impact		The damage a risk event would cause in the event it materializes.
Import Unit Value Index		The ratio between import value index and import volume index
Import Value Index		The ratio of the import values between the current period and the base period
Import Volume Index		The ratio of the import quantities between the current period and the base period
Index Linked Bond		A bond, which pays a coupon that, varies according to some underlying index usually the Consumer Price Index.
Index of Industrial Production	IIP
Indirect Financial Interconnectedness		This refers to channels through which distress of a financial institute can affect another financial institution even in the absence of direct relationships. Exposure to common assets, shadow banking, fire sales, margin calls and haircuts and information spillovers are a few examples of indirect financial interconnectedness.
Industrial Development Board	IDB
Inflation		A constant rise in the general price level of goods and services in an economy over the year. There are two measures of inflation in general use. Those are Year-on-Year base Inflation and Moving average Inflation.
Inflation outlook
Information Technology	IT
Information Technology and Business Process Outsourcing	IT/BPO
Information Technology Department	ITD
Inherent Risk		The amount of risk that exists assuming there are no mitigating controls in place.
Initial Public Offering		An initial public offering is a public offering in which shares of a company are sold to institutional investors and retail investors for the first time.
Input Prices (in BOS)		Indicates the input prices (raw material prices or prices of other inputs such as labour) during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Insurance Policyholder		A person or entity who owns or controls an insurance policy and has the privilege to exercise the rights outlined in the contract. This party is often, but not always, the insured and may or may not be one of the policy’s beneficiaries.
Interbank Call Money Market
Interest Rate Risk		Interest rate risk is the risk of changing the value of an asset when interest rates changes in the market.
Interest Service	INT
Interest Subsidy	IS	One of the tools that are used to expand the access to finance. GOSL or CBSL or a donor agency may provide funds to provide interest subsidy to the financial institutions under interest subsidy schemes in order to encourage the financial institutions to lend by using their own funds to economic sectors, which involve high credit risk.
Internal Audit Department	IAD
Internal Investment Oversight Committee	IIOC
International Bank for Reconstruction and Development	IBRD
International Development Agency	IDA
International Finance Corporation	IFC
International Fund For Agricultural Development	IFAD
International Monetary Fund	IMF
International Operations Department	IOD
International Reserve Investment Oversight Committee	IRIOC
International Securities Identification Number	ISIN	An identification number allocated to distinguish the type of security, tenure and date of maturity of government securities
International Sovereign Bond	ISB
Internet Protocol address	IP address	An identification number which is unique to each computer Eg: 192.168.101.1.
Intra Day Liquidity		Funds, which can be accessed during a business day and settled on the same day, usually to enable financial institutions to make payments on real time.
Intra-day Liquidity Facility	ILF	An intra-day interest free funding facility provided to PIs by the CBSL to facilitate smooth operation of the Real Time Gross Settlement (RTGS) System.
Intraday Volatility of the Exchange Rate		Exchange rate movements within a day.
Investment (in BOS)		Indicates the investment level during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Investment Guidelines	IG
Investment Management and Accounting System	IMAS
Investment Oversight Committees	IOCs
Investment Policy Statement	IPS
Inward Investment Account	IIA	An account introduced for channelling inward remittances in respect of permitted capital transactions in Sri Lanka by non-resident investors and repatriation of any return of such investments.

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Term	Abbreviation	Description
Key Rate Duration		Key rate duration is a measure of how sensitive a debt security’s price is when its yield changes by 1% for a certain maturity while all other maturities are held constant.
Know Your Customer	KYC	The mandatory process of identifying and verifying the customer's identity when entering into relationships with FIs or DNFBPs

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Term	Abbreviation	Description
Labour Force		The current economically active population, i.e. the number of persons (aged 15 years and above), who are employed or unemployed during the reference one-week period.
Labour Force Participation Rate	LFPR
Labour Productivity		Measured in terms of Gross Value Added (GVA) (in 2010 prices) per hour worked
Land Price Index	LPI	LPI was compiled by the Statistics Department of the CBSL using per perch bare land prices obtained from the Government Valuation Department covering all 13 DS divisions in the Colombo District on a semi-annual basis. From 2nd half of 2019 onwards LPI is renamed as LVI and released on a semi-annual basis.
Land Valuation Indicator	LVI	LVI which is previously known as LPI, is compiled by the Statistics Department of the CBSL using per perch bare land prices obtained from the Government Valuation Department covering all 13 DS divisions in the Colombo District on a semi-annual basis.
LankaPay (Pvt.) Ltd	LPPL	LankaPay (Pvt.) Ltd (LPPL) which was previously named as Lankaclear (Pvt.) Ltd, is the national payment network that functions under the guidance and supervision of the CBSL.
LANKAQR		LANKAQR is the National Quick Response (QR) Code standard for local currency payments in Sri Lanka, introduced by the Central Bank of Sri Lanka (CBSL)
LankaSecure Net		The internet based online viewing facility for the investors in Govt. Securities recorded in the Central Depository System
LankaSecure System		The Scripless Securities Settlement System and the Central Depository System established and operated by CBSL in terms of the Monetary Law Act
LankaSettle System		Real-Time Gross Settlement System and the LankaSecure System established and operated by CBSL in terms of the Monetary Law Act
Legal & Compliance Department	LCD
Legal Rate		Legal Rate is applicable to any legal action for the recovery of a sum of money
Legal Tender		All currency notes and coins issued by the Central Bank shall be valid in Sri Lanka for the payment of any amount
Lender of last resort
Lending rate caps
Letter of Acceptance of Payments of Outstanding Bills due to Contractors and Suppliers of the Government	LAPC	A letter issued by the Government Treasury to contractors and suppliers of the Government confirming the outstanding payments from the Government to enable such contractors and suppliers to use the letter as a security to obtain loans from LCBs under special loan schemes introduced by the CBSL during the Covid-19 pandemic
Letter of Credit	LCs	A document issued by the importer´s bank stating its commitment to honor a draft, or otherwise pay, on presentation of specific documents by the exporter within a stated period of time
Library and Information Centre	LIC
Licensed Commercial Bank	LCB
Licensed Finance Companies	LFCs
Licensed Specialized Bank	LSB
Likelihood	The probability of a risk event occurring
Liquefied Petroleum Gas	LPG
Liquidity		Liquidity refers to the ability to convert an asset into cash without affecting its market price.
Liquidity buffers
Liquidity Coverage Ratio	LCR
Liquidity Facility to the Contractors and Suppliers	LFCS	A special loan scheme introduced by the CBSL for contractors and suppliers of the Government to obtain loans from LCBs against a Letter of Acceptance of Payments of Outstanding Bills due to Contractors and Suppliers of the Government issued by the Government Treasury during the Covid-19 pandemic
Liquidity Risk		Liquidity risk Is the risk that a financial institutions fails to meet its financial obligations, without incurring a substantial loss.
Liquidity Support Facility	LSF	A Reverse Repo auction available for SPDs under OMOs
Loan Scheme	LS
Loan to Value Ratio	LTV	Measures the relationship between the loan amount and the market value of the asset securing the loan.
Local Treasury Bills Ordinance	LTBO	Local Treasury Bills Ordinance No. 8 of 1923 (as amended)
London Inter-Bank Offered Rate	LIBOR	The London Inter Bank Offered Rate. This rate is used as a reference rate by the international banking markets and is commonly the basis on which lending/borrowing margins are fixed.
Long Term	LT	Tenor of the auctions conducted more than 7 days (more than one week) under OMOs with the view to absorb/inject liquidity from/to the market on term basis
Long Term Credit Rating	LTCR
Long-term Insurance		Refers to life insurance

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Term	Abbreviation	Description
Macrofinancal feedback loops		Adverse condition in the macroeconomy affecting a component in the financial system which in turn will impact the macroeconomy again which will continue in form of a loop
Macroprudential measures
Macroprudential policy		Policies aimed at maintaining financial system stability and avoiding systemic risk
Macroprudential Surveillance Department	MSD
Management Committee	MC	The Committee established under National Financial Inclusion Strategy (NFIS) which will supervise the day-to-day implementation of the NFIS and ensure that progress adheres to the implementation plan and the guidance of the NFIC
Market capitalisation		Market capitalisation is the total number of issued shares of listed Companies, multiplied by their respective prices at a given time. This figure reflects the broad value of the market at that time.
Market deposit interest rates
Market Lending Rates
Market Operations Committee	MOC	A committee entrusted with the task of translating overall monetary policy considerations adopted by the Monetary Board into daily monetary operations. In terms of monetary policy implementation, the MOC decides on the required actions in relation to liquidity management, taking into consideration the estimated liquidity conditions, desired level of the operating target, liquidity distribution among market participants, the need for devising appropriate market signals, etc
Market Rate		Market Rate is applicable only in relation to legal actions instituted by lending institutions for the recovery of debt exceeding Rs. 150,000 arising out of commercial transactions, where there is no agreed rate of interest
Market Risk		Market risk encompasses the risk of financial losses resulting from movements in market prices and includes interest rate risk, foreign exchange risk, equity price risk & the commodity price risk.
Market Volatility		Market volatility is how much and how quickly prices move over a given span of time.
Maturity		In case of a security (financial instrument) maturity is the amount and date the issuer has promised to redeem the issue by paying the principal value. The number of days or years until the date of redemption is called the maturity period.
Maximum Retail Price	MRP
Medium and Long-Term Debt Service	MLDS
Medium Term Debt Management Strategy	MTDS
Medium Term Fiscal Framework	MTFF
Memorandum of Understanding	MoU
Merchandise trade deficit
Micro Finance	MF
Micro, Small and Medium Enterprises	MSME
Mid-single digit levels
Middle Office	MO	Middle Office conduct risk analysis & performance analysis of trading/investment activities.
Middle Rate of the USD/LKR SPOT Exchange Rate		The weighted average rate of all actual USD/LKR Spot transactions executed in the domestic inter-bank foreign exchange market, including the CBSL spot interventions carried out via “Request for Quote (RFQ)” method throughout the previous/ latest available business day.
Migration Allowance		A quota permitted for emigrants who is aged 18 years or above to claim proceeds of realised from any asset in Sri Lanka which was owned/acquired/inherited/ received as a gift by such emigrants.
Ministry of Finance	MOF
Mobile payment application		A payment made for a product or service through computer program or software application that enables making payments using a mobile device such as a tablet or mobile phone
Mobile phone based E-money System		Mobile phone based e-money systems issue monetary value upon receipt of funds, which can be stored electronically for the purpose of payments.
Monetary aggregates
Monetary Board	MB
Monetary Law Act	MLA
Monetary Policy Consultative Committee	MPCC
Monetary policy measures
Money Laundering and Terrorist Financing	ML/TF	Money Laundering is the process by which proceeds from a criminal activity are disguised to conceal their illicit origin. Terrorist financing is the financing of terrorist acts, and of terrorists and terrorist organisations.
Money Market	MM
Money Market Instruments	MMI	Financial instruments, that are easily convertible into cash for the purposes of short-term lending and borrowing, with maturities ranging from a day to a year.
Money printing		Money printing is the process of supplying fresh money to the economy by the Central Bank
Money services		Any services relating to money, including safekeeping, money transmission, cheque encashment, or currency exchange, and other similar services
Monitoring & Evaluation System	M&E System
Month on month basis Inflation		The percentage change of the current month Consumer Price Index(CPI) over previous month CPI.
Moody’s Investors Service	Moody's
Mortgage backed housing loans
Mortgage-Backed Securities	MBS	A mortgage-backed security is a special type of asset backed security backed by mortgage loans.
Multidimensional Poverty Index
Multilateral Net Settlement Clearing Balances	MLNSB	Multilateral Net Settlement Balances (MLNSB) is the net balances which are generated by LPPL through its Cheque Clearing, SLIPS Clearing, Common ATM Switch Clearing, Common Electronic Fund Transfer Switch Clearing and Common Point of Sales Clearing systems of Licensed Commercial Banks (LCBs)

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Term	Abbreviation	Description
National Agribusiness Development Programme	NADeP
National Consumer Price Index	NCPI	The NCPI demonstrates the price movment of selcted goods and services consumed by households at national level.
National Crafts Council	NCC
National Financial Inclusion Council	NFIC	The Council established under National Financial Inclusion Strategy (NFIS) which provide overall leadership, policy guidance, and strategic direction for the NFIS and oversee the NFIS implementation with the support from Management Committee and the Secretariat.
National Financial Inclusion Strategy	NFIS	Strategy for individuals and enterprises in Sri Lanka can access high-quality, appropriate, secure, and affordable services based on their needs and make an informed choice and use these services efficiently and effectively to support their economic activities and improve the quality of their lives.
National Payment Council	NPC
National Steering Committee	NSC
Nationally Determind Contributions	NDCs	The Paris Agreement requests each country to outline and communicate their post-2020 climate actions, known as their NDCs that includes commitments by each country to reduce national emissions and adapt to the impacts of climate change
NCPI Core	NCPI Core	Excluding Volatile Food, Energy and Transport from the NCPI basket
Near Field Communication	NFC	A short range wireless technology that allows devices with NFC chips to communicate securely with each other usually by a physical device touch or when placed within very close proximity
Net Credit to the Government	NCG
Net Domestic Assets	NDA
Net Foreign Assets	NFA
Net Foreign Exchange Open Position	NOP	An excess of assets (including off-balance sheet items) over liabilities (including off-balance sheet items) or an excess of liabilities (including off-balance sheet items) over assets (including off-balance sheet items) held by a financial institution denominated in a foreign currency at the given date/ point of time.
Net Present Value	NPV
New Comprehensive Rural Credit Scheme	NCRCS
New Orders (in PMI)		The volume of new sales orders
Nominal Effective Exchange Rate	NEER
Non-Conventional Renewable Energy	NCRE	Non-Conventional Renewable Energy sources such as Solar, Biomass, Dendro, Wind Power & etc.
Non Performing Loans	NPLs
Non-Financial Risk Management Committee	NFRMC
Non-Financial Risks		Risks excluding financial risks
Non-Governmental Organization	NGO	A voluntary social service organization registered under the National Secretariat for Non-Governmental Organizations in terms of the Voluntary Social Service Organizations [Registration and Supervision] Act, No. 31 of 1980 and any amendment thereto.
Non-Resident Rupee Account	NRRA	A Sri Lanka Rupee account introduced for, emigrants to facilitate local transactions and permitted investments in Sri Lanka out of their rupee generated income which is eligible to claim migration allowance. firms and companies outside Sri Lanka, to repatriate their local income derived from current transactions and proceeds of investments made in Sri Lanka for which the inward remittances brought into the country could not be proved.
Nostro Account		An account that a bank holds in a foreign currency in another bank in a foreign country.
Note Series		A collection of denominations of currency notes issued under a specific theme
Novation		Replacement of a contract between the original counterparties with two new contracts; one between the buyer’s clearing agent and the CCP, and another between the CCP and the seller’s clearing agent
Nuclear Gold Reserve		The minimum level of gold reserves that the Monetary Board shall endeavour to hold.
Numismatic		A study or collection of currency

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Term	Abbreviation	Description
Official Prices		Prices calculated by the CBSL of all available Treasury bill and Treasury bond ISINs based on the secondary market yield rates (quotes) published by the Public Debt Department (PDD). These official prices are used by the AS400 and Scripless Securities Settlement System (SSSS) to value collateral securities
Off-shore Banking Unit	OBU
One Time Password	OTP	An auto generated string of numeric or alphanumeric characters used to authenticate a user for a single transaction or login session
Online Electronic Bidding System	OEBS	AS400 System that facilitates auctions under OMOs and access to standing facilities by the PIs
Open account		A payment term under which the buyer promises to pay the seller within a predetermined number of days
Open Banking		The process of customers giving consent to third-party service providers to access their financial data held in financial institutions in order to obtain value-added services.
Open Market Operations	OMO	OMOs are the market based monetary policy operations conducted by the CBSL using acceptable securities (government securities and the CBSL’s own securities) to maintain market liquidity at appropriate levels and ensure stability in interest rates in line with the monetary policy stance of the CBSL. OMOs are used to steer the overnight interbank interest rates (AWCMR) along a desired path within the Standing Rate Corridor (SRC) by managing liquidity in the domestic money market so as to be consistent with the prevailing monetary policy stance
Operated Kilometres
Operating Instructions	OIs	Operating guidelines issued by the Regional Development Department of the Central Bank of Sri Lanka to implement a credit scheme including refinance, interest subsidy and credit guarantee from time to time.
Operational loss
Operational Risk		Risk of loss resulting from inadequate or failed internal processes, people, systems or from external events.
Organization of the Petroleum Exporting Countries	OPEC
Output Prices (in BOS)		Indicates the sales prices during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Outright Transactions		Transactions by which ownership (title) of the securities are transferred permanently from seller to buyer.
Outstanding domestic debt
Outstanding External Debt	OED
Outstanding foreign debt
Outward Investment Account	OIA	An account introduced for channelling outward remittances in respect of permitted capital transactions outside Sri Lanka by resident persons and receipt of any return of such investments into Sri Lanka.
Overdraft	OD	A deficit in a current account held with an LCB caused by drawing more money than the money available in the account

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Term	Abbreviation	Description
Para tariffs		Import taxes other than general custom duty
Parent Migration Scheme		A scheme operated by a foreign country enabling Sri Lankan parents of a person who has obtained permanent residency status or citizenship in that country, to obtain permanent residency status in such foreign country.
Parity Variance		Effect of the appreciation/ depreciation of foreign currencies against the local currency on the existing foreign currency debt portfolio stated in the local currency.
Participating Institutions	PIs	Financial Institutions such as Licensed Commercial Banks (LCBs) and Standalone Primary Dealers (Companies appointed as Primary Dealers except LCBs) as well as the Employees Provident Fund (EPF) who are conducting operations with the CBSL
Participatory Financial Institution	PFI
Pay-As-You-Earn Tax	PAYE tax
Payment card		Any card, plate, coupon book, or other device, including a code or any other means of access to an account, stored value or credit that may be used from time to time to obtain money or to make payment and includes a debit, charge, credit and stored-value card
Payment detail file for paying through electronic media	EVEMP
Payment instrument		Cheque, draft, money order, traveller’s cheque, payment card or other instrument for the transmission or payment of money or monetary value, whether or not negotiable. The term does not include a credit card voucher, letter of credit, or instrument that is redeemable by the issuer only in goods or services
Payment system		A system or arrangement for the communication, processing, exchange, clearance or settlement of payment orders and other messages effecting, ordering, enabling, or facilitating the making of payments money transmission, money withdrawals, or transfers of monetary value
Payments & Settlements Department	PSD
Percentage Points	pps
Person		Any natural or legal person
Personal Foreign Currency Account	PFCA	Foreign Currency Account for eligible individuals
Personal Identification Number	PIN	A numeric code which the cardholder or customer may need to quote for verification of identity when using payment cards, accessing Internet banking or mobile payment apps.
Persons’ resident in Sri Lanka		Persons determined as ‘residents’ in terms of the Order issued under Section 31 of the Foreign Exchange Act, No. 12 of 2017
Phishing		A trick scammers do to obtain private information from vulnerable users. Scammers send fabricated e-mails that seem to be from legitimate websites, requiring users to click on certain malicious links through which personal data may be stolen
Point of Sale (POS) terminal	POS terminal	POS terminals allow customers to make payments through credit, debit and stored value cards at merchants’ outlets
Policy Review and Monitoring Department	PRMD
Port Terminal operators		Include Airport & Aviation Services (Sri Lanka) Ltd., Sri Lanka Ports Authority, South Asia Gateway Terminals (Pvt) Ltd. and Colombo International Container Terminals Ltd
Portfolio Management Unit	PMU
Ports and Airports Development Levy	PAL
Potential Exposure	PE
Poverty Alleviation Microfinance Project	PAMP
Poverty Alleviation Microfinance Project -Revolving Fund	PAMP - RF
Poverty Head Count Index
Preferential trade agreements
Price-earnings ratio		The ratio of a company's/ overall market’s share price to the company's/ overall market’s earnings per share. The ratio is used for valuing companies/ overall market and to find out whether they are overvalued or undervalued
Price-to-book ratio		Price-to-book ratio is a financial ratio used to compare a company's current market value to its book value.
Primary Dealer	PD	An institution appointed by CBSL under the LTBO and the RSSO to participate in the Primary Auctions of Government Securities, and to hold and transact Scripless Securities for itself and for its customers.
Primary Market		Market is where the instruments are first created and issued to the investors for the first time.
Primary Market Weighted Average Yield Rates	PMWAYR
Private- Public- Producers Partnership	4P
Private Sector Credit	PSC
Probability of Default	PD
Profitability (in BOS)		Indicates the profit level during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Profits after tax of the banking sector
Profits and dividends
Project Management Unit	PMU
Property Price Indices		Statistics Department of the CBSL currently compiles four property price indices covering the Colombo District. The Price Index for new condominiums is compiled on a quarterly basis using the information gathered through the CMS. Meanwhile, Asking Price Indices are compiled for Condominiums, Houses and Lands on a monthly basis using property advertisement information. These price indices are calculated according to hedonic regression based rolling window time dummy method following international best practices.
Provincial Gross Domestic Product	PGDP	PGDP is computed by the Statistics Department of the CBSL, using a top-down approach by disaggregating the nominal GDP compiled by the Department of Census and Statistics (DCS). In the estimation of PGDP for the provinces, the value of each line item in GDP is apportioned using relevant indicators at the provincial level.
Public Debt Department	PDD
Public Private Partnership	PPP
Purchasing Managers' Index	PMI	PMI is a monthly survey conducted seperately on a monthly basis for Manufacturing, Construction and Services activities, and the data are considered as high frequency and timely indicators of economic activities

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Term	Abbreviation	Description
QR code Issuer		Financial Institutions which facilitate QR code based payments from current accounts, savings accounts, credit card accounts, and Operators of Mobile Phone Based e-Money Systems
QR code Merchant Acquirer		The Financial Institution or Mobile Phone Based e-Money Operator responsible for enrolling merchants, assigning merchant IDs, maintaining merchant records/accounts, and settling merchants. The Merchant Acquirer also facilitates generation of merchant presented LANKAQR code
Quarterly Projection Model	QPM	A semi-structural macroeconomic model of a quarterly frequency used by the Central Bank to undertake medium term macroeconomic projections
Quick Response code	QR code	An ISO 18004-compliant encoding and visualization of data which is a machine-readable code, typically used for storing URLs or other information for reading by the camera on a smartphone.

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Term	Abbreviation	Description
Real economy
Real Effective Exchange Rate	REER	The REER is computed by adjusting the Nominal Effective Exchange Rate (NEER) for inflation differentials with the countries whose currencies are included in the basket
Real Estate Investment Trusts	REITS	A company or a fund, listed and traded on an exchange, whose purpose is to invest in property or finance income-generating real estate/infrastructure. REITs pool the capital of numerous investors and, similarly to a mutual fund, sells shares in those investments, providing the holder with exposure to real estate investment without buying, managing or financing any properties themselves.
Real Time Gross Settlement System	RTGS	Real Time Gross Settlement System (RTGS) is an electronic fund settlement system which processes and settles each payment instruction individually and irrevocably on real time basis using funds in the participants’ Settlement Accounts in the RTGS System
Recurrent expenditure
Receipts in exports of goods and non-factor Services including workers’ remittances and Compensation of employees.	XGS
Receive versus Payment	RVP	Transfer (receipt) of ownership of securities and the underlying transfer of funds are realized simultaneously on real time.
Regional Development Department	RDD
Regional Office - Anuradhapura	RO-ANU
Regional Office - Kilinochchi	RO-KIL
Regional Office - Matale	RO-MAL
Regional Office - Matara	RO-MAT
Regional Office - Nuwara Eliya	RO-NUW
Regional Office - Trincomalee	RO-TRI
Registered Stocks and Securities Ordinance	RSSO	Registered Stock and Securities Ordinance No. 7 of 1937 (as amended)
Regulatory Sandbox		A framework set up by the Central Bank of Sri Lanka to allow small scale, live testing of innovations by select entities, in a controlled environment (operating under a special exemption, allowance, or other limited, timebound exception) under its supervision.
Remittances		Include telegraphic transfers, other interbank transfers, bank drafts, other payment instruments, payments received via other internationally accepted payment mechanisms or platforms and funds received from exchange companies/houses in foreign currency from abroad, other than currency notes
Renewal of a Swap Transaction		Extending the maturity period of a swap transaction for a further period of time with an agreed terms and conditions of both parties to the swap agreement. Sometimes it may call as a roll-over of a swap transaction.
Repayment Period		The period during which the debt obligation is to be repaid.
Repealed Exchange Control Act	ECA
Reproduction of Currency Notes		Copying, replicating, imitating or designing any part (more than 25% of a currency note) or the whole of the visual image, contents or appearance of currency notes through illustrations, paintings, photographs, pictures, electronic images, print or electronic media including internet, television and films
Repo		A form of temporary deposit by the PIs with the CBSL under OMOs involving the sale of government securities by the CBSL to PIs with an agreement to buy them back at a higher price at a future date
Request for a Quote	RFQ	Verbal, electronic or written request for a written quote/ price with an intention to buy/sell in a competitive market.
Reserve asset position
Reserve Maintenance Period	RMP	The period which LCBs needs maintain their reserves at CBSL. Currently, the RMP is two weeks period
Reserve money
Resident Guest Foreign Currency Account	RGFCA	Resident Guest Scheme Special Accounts - These special accounts are introduced under the Directions No. 08 of 2021. There are three types of accounts available under this special category.
Resident Guest Rupee Current Account – Investor’s	RGRCAs - Investors
Resident Guest Rupee Current Account – Professionals	RGRCAs - Professionals
Resident Guest Scheme	RGS	Special Accounts for of prospective investors and professionals who come to Sri Lanka under ‘Resident Guest Scheme’ implemented by the Department of Immigration and Emigration
Resident Investor		An eligible resident persons as specified in the Regulations issued under the provisions of FEA, to make permitted capital transactions outside Sri Lanka.
Residual Risk		Risk after considering the effectiveness of mitigating control(s) already in place
Resolution and Enforcement Department	RED
Restricted Dealer	RD	Any person, class or classes of persons not being an authorized dealer, to deal in foreign exchange within Sri Lanka for the purposes specified in the permit, subject to such terms and conditions as may be imposed by the Central Bank in that behalf
Retention Ratio		The percentage of businesses covered by insurance companies that are not transferred to reinsurance.
Return on assets
Return on equity
Returned Determination Letter	RDL
Reverse Repo	Re-Repo	A form of temporary borrowing by the PIs from the CBSL under OMOs involving the purchase of government securities by the CBSL from PIs with an agreement to sell them back at a higher price at a future date
Risk Appetite Statement	RAS	Statement that sets out the amount and types of risks that an entity is willing to undertake in order to meet its objectives and its readiness to accept a level of risks subsequent to the application of risk treatments.
Risk Coordinating Officers	RCOs
Risk Management Department	RMD
Risk Management Policy Statement	RMPS
Risk Matrix		A four-point scale which gives the rating for residual risk, by considering the ratings for aggregate impact and likelihood of the risk events.
Risk Weighted Capital Adequacy Ratio		The ratio computed by dividing available capital by the risk weighted assets.
Running Cost Ratio		The interest paid as a proportion of the outstanding debt stock at the beginning of the year.
Rupee denominated securities
Rupee liquidity
Rupee Loan		A medium to long-term debt instrument issued with maturities more than two years on tap basis or as private placements by the Central Bank on behalf of the government under the Registered Stock and Securities Ordinance. Interest rates of this instrument are determined administratively.
Rural Banking and Staff Training College	RB&STC

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Term	Abbreviation	Description
Sales (in BOS)		Indicates the sales volume during the current quarter and the expectation for the next quarter as compared to corresponding quarter of the last year
Scripless Securities		Treasury bills and Treasury bonds issued in book entry form or as paperless securities.
Scripless Security Settlement System	SSSS	A system which facilitates the settlement of transactions in Scripless Securities.
Secondary Market		The market where securities are traded and exchanged among buyers and sellers after the securities are issued at the primary market. In case of government securities, Secondary Market is where government securities are traded between market participants /investors subsequent to the first issuance at the primary market.
Secretariat Department	SEC
Secured Overnight Financing Rate	SOFR	The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities Benchmark interest rate for dollar-denominated derivatives and loans that will replace London Interbank Offered Rate (LIBOR).
Securities and Exchange Commission of Sri Lanka	SEC
Securities Investment Account	SIA
Security Features		Features incorporated in currency notes enabling distinguishing between genuine currency notes and counterfeit notes
Security Services Department	SSD
Self-Employment Promotion Initiative Loan Scheme	SEPI
Sell-buy forex swap
Senior Foreign Nationals’ Fixed Deposit Account (Foreign Currency)	SFNFDA	These special accounts are introduced under the Directions No. 07 of 2021. There are two types of accounts available under this special category.
Senior Foreign Nationals’ Rupee Accoun	SFNRA
Senior Foreign Nationals’ Special Account	SFNSA	Special Accounts for senior foreign nationals who are over 55 years of age and wish to a prolonged stay in Sri Lanka on resident visas under “Sri Lanka – My Dream Home programme” implemented by the Department of Immigration and Emigration
Server		A specific computer dedicated to serve requests made by other devices or software programs
Serviceable/Fit Currency Notes		Currency notes in a good condition that can be continue to be in circulation
Settlement Risk		Settlement risk is a type of counterparty risk, where counterparty fails to deliver its obligation as per the terms and conditions to the trade.
Shipping Agent	SA	Person authorized to carry on business as a shipping agent in Sri Lanka on behalf of a foreign shipping line (foreign principal) with a valid license or authorization letter issued by the Director General of Merchant Shipping of Sri Lanka
Short Message Service	SMS
Short Selling		The sale of an asset (a security/ stock, commodity futures contract, corporate or sovereign bond) that is not owned by the seller at the time of sale. Short selling are of two kinds, namely “Naked Short Selling and “Covered Short Selling”.
Skill Development Program	SDP	A program conducted to improve the business management knowledge of MSMEs
Small and Medium Enterprises	SME
Small Enterprises Development Division	SED
Smallholder Agribusiness Partnerships Programme	SAPP
Smallholder Tea and Rubber Revitalization	STaRR
Social Security Contribution Levy	SSCL
Society for Worldwide Interbank Financial Telecommunications	SWIFT	An international system that allows member banks to transfer money across borders safely and efficiently
South East Asian Central Banks	SEACEN
Sovereign Bond		A debt security issued by a sovereign government denominated in domestic or a foreign currency. The foreign currency most likely is a hard currency.
Sovereign Credit Rating		A sovereign credit rating is an independent assessment of the creditworthiness of a country or sovereign entity. Sovereign credit ratings can give investors insights into the level of risk associated with investing in the debt of a particular country, including any political risk. At the request of the country, a credit rating agency will evaluate its economic and political environment to assign it a rating. Obtaining a good sovereign credit rating is usually essential for developing countries that want access to funding in international bond markets.
Sovereign default
Sovereign Risk		The chance that a national government's treasury or central bank will default on their sovereign debt, or else implement foreign exchange rules or restrictions that will significantly reduce or negate the worth of its forex contracts.
Special Commodity Levy	SCL
Special Drawing Rights	SDR	The unit of account of the International Monetary Fund of which the value is based on a basket of key international currencies.
Special Deposits Accounts	SDA	SDAs were introduced under the Directions No. 21 of 2021. Further, said Directions was amended by the Directions No. 25 of 2021 and 04 of 2022.
Special Foreign Currency Account	SFCA	Foreign Currency Accounts specially permitted under the Foreign Exchange Act, No. 12 of 2017 with specific credit and debit limits
Specialised Leasing Companies	SLCs
SFCA – Short Term Loans		Foreign currency account which has been introduced to facilitate payments for import of raw materials for manufacturing of products.
Spot Transaction	SPOT	Outright purchase of one currency amount against another currency, at the agreed foreign exchange rate, settled on the second business day after the transaction execution date (t0+2).
Sri Lanka Development Bond	SLDB	Government bond denominated in USD, issued by Government of Sri Lanka domestically under Foreign Loan Act. 29 of 1957, for the purpose of developmental activities of the country.
Sri Lanka Inter-bank Payment System	SLIPS	A system that handles pre -authorised small value bulk payments (direct credit and debit transfers)
Sri Lanka Nation Building Bonds	SLNBB
Sri Lanka Prosperity Index	SLPI	SLPI is a composite indicator compiled by the Statistics Department of the CBSL to measure the level of prosperity of the country. The index comprises three sub-indices, i.e. Economy and Business Climate, Well-being of the People and Socio-Economic Infrastructure, measured using 41 variables representing different aspects of prosperity.
Sri Lanka Socio Economic Data Folder	SLSED	A pocket-size annual publication containing statistical tables and charts on socio economic variables including country comparisons. The booklet is available in both printed and electronic formats and in all three official languages.
Staff Services Management Department	SSMD
Stakeholder Engagement Committee	SEC	The Stakeholder Engagement Committee (SEC) consists of a cross section of stakeholders including eminent professionals, academics, and the private sector personnel
Standalone Primary Dealer	SPD	Non-bank primary dealers
Standard and Poor’s	S&P
Standing Deposit Facility	SDF	A facility provided for PIs to deposit excess funds at the CBSL at the end of the day
Standing Deposit Facility Rate	SDFR	The deposit interest rate at which the SDF is provided to PIs, which forms lower bound of the Standing Rate Corridor (SRC)
Standing Lending Facility	SLF	A collateralised facility provided for PIs to fulfill further shortage of the liquidity requirements from the CBSL at the end of the day
Standing Lending Facility Rate	SLFR	The interest rate at which the SLF is provided to PIs, which forms the upper bound of the (SRC)
Standing Rate Corridor	SRC	An interest rate corridor formed by the main policy rates of the CBSL, i.e. SDFR and SLFR
State Owned Business Enterprises	SOBEs
State Owned Enterprises	SOEs	A legal entity that is created by a government in order to partake in commercial activities on the government's behalf. It can be either wholly or partially owned by a government and is typically earmarked to participate in specific commercial activities.
Statistical base effect
Statistics Department	STD
Statutory Liquid Assets Ratio	SLAR
Statutory Reserve Ratio	SRR	The statutory reserve ratio (SRR) is the proportion of the deposit liabilities that commercial banks are required to keep as a cash deposit with the Central Bank
Sterling Overnight Index Average	SONIA	SONIA is based on actual transactions and reflects the average of the interest rates that banks pay to borrow sterling overnight from other financial institutions and other institutional investors.
Stock of Purchases (in PMI)		Raw materials purchased and kept in a warehouse to be used for production
Stored-value Card		A payment card or any other device with access to a stored value that can be used as a means of payment. The term does not include cards that can be used only to settle payment obligations to the issuer of such cards
Strategic Asset Allocation	SAA	SAA is the process by which an institution determines the appropriate asset allocation at any point in time to achieve its long-term investment objectives.
Strategic Risk		Risk events that adversely impact or affect an entity’s business strategy and strategic objectives.
Stress Testing		Stress Testing is used to determine the stability of a given sector/institution to withstand potential vulnerabilities emanating from certain unlikely but plausible events or movements in macro-financial variables.
Subsidiary Loan Agreement	SLA	Loan agreement entered into by and between the CBSL and each of the PFIs with regard to the implementation of a loan Scheme
Suppliers' Delivery Time (in PMI)		Time lag between order placement and delivery by the supplier
Sustainable Banking Network	SBN	SBN is a voluntary community of financial sector regulators, central banks, industry associations, and environmental regulators from emerging markets committed to advancing sustainable finance for national development priorities, financial market deepening, and stability. International Finance Corporation (IFC), the private sector arm of the World Bank Group, acts as the Secretariat to the SBN, playing the role of strategic and technical advisor, as well as global convener to SBN and its members.
Swap		An agreement or a derivative contract between two parties to exchange cash flows or liabilities from two different financial instruments.
Systemic Risk		Systemic risk is the risk of a breakdown of an entire financial system or financial markets caused by idiosyncratic events or conditions of financial sector. Risks associated with an individual entity or multiple of entities may not trigger a systemic risk if such risks can be contained without harming the entire system.
Systems Applications and Products	SAP

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Term	Abbreviation	Description
Tactical Asset Allocation	TAA	TAA is the asset allocation maintaining in a portfolio deviating from use SAA in order to take its advantage of pricing anomalies available in its market. It is an active management portfolio strategy.
Tax holidays
Technical Assistance	TA
Technology Transfer Program	TTP	A program conducted to improve the technical knowledge of business processes of MSMEs
Telegraphic Transfer Rates	TT Rates	Exchange rates that banks used to transfer foreign exchange via overseas wire transactions.
Temporary Resident Visa under Regulation 3 of 2021		A visa obtained by a citizen of Sri Lanka which falls into a category of visa that entitles the individual to obtain permanent residency status or citizenship in that country at a future date subject to fulfilling specified conditions.
Terms of Reference	ToR
Terms of Trade		The ratio between the index of export prices and the index of import prices
The Convention on the Suppression of Terrorist Financing Act, No. 25 of 2005	CSTFA	An act which gives effect to the International Convention for the Suppression of Terrorist Financing and prohibits the financing of terrorist acts, terrorists and terrorist organizations, and sets provisions for freezing, seizure and forfeiture of terrorist financing related assets.
The Financial Transactions Reporting Act, No. 6 of 2006	FTRA	An Act to provide for the collection of data relating to suspicious financial transactions to facilitate the prevention, detection, investigation and prosecution of the offences of money laundering and the financing of terrorism respectively ; to require certain institutions to undertake due diligence measures to combat money laundering and the financing of terrorism ; to identify the authority which will be responsible for monitoring the activities of all institutions to whom this act applies ; and to provide for matters connected therewith or incidental thereto
The Prevention of Money Laundering Act, No. 5 of 2006	PMLA	An act to prohibit money laundering in Sri Lanka; to provide the necessary measures to combat and prevent money laundering: and to provide for matters connected therewith or incidental thereto.
Tight monetary policy stance
Total Debt Service	TDS
Training of Trainers	ToT
Treasury Bill	T-Bill	A short-term debt instrument issued usually on a discount basis and for maturities of 91, 182, and 364 days by the CBSL on behalf of the government under the Local Treasury Bills Ordinance.
Treasury Bond	T-Bond	A medium to long-term debt instrument issued by the CBSL on behalf of the government under the Registered Stock and Securities Ordinance.
Twin deficits

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Term	Abbreviation	Description
Un-circulation Standard/Uncirculated Commemorative Coins		Commemorative coins which are not issued into circulation and sold as numismatic items. Typically the selling price of such coin is higher than its’ face value
Underlying demand pressures
Underwriting		Underwriting is the process through which an individual or institution takes on financial risk for a fee. This risk most typically involves loans, insurance, or investments.
Underwriting Ratio		The amount of a company's net premiums that were allocated to underwriting costs, like commissions to agents and brokers, state and municipal taxes, salaries, benefits and other operational expenses. This ratio is determined by dividing the underwriting expenses total by net premiums earned.
Unemployed Population		Persons available and/or looking for work, and who did not work and took steps to find a job during the last four weeks and are ready to accept a job given a work opportunity within next two weeks are said to be unemployed.
Unfit Notes		A genuine currency note that has become worn out, badly soiled, disfigured with writing, sustained minor damage while in circulation or willfully mutilated, altered or defaced
United Nations Development Programme	UNDP
Unitholder		An investor who owns one or more units in an investment trust. A unit is equivalent to a share, or piece of interest. Unitholders are afforded specific rights that are outlined in the trust declaration, which governs the trust's actions.
Unserviceable Notes		Currency notes that have become dirty, worn out/badly soiled while in circulation but not mutilated and not in a good condition to reuse
Usable Foreign Reserves		Foreign reserves that can be readily available to utilize without any restrictions/encumbrances on the convertibility and usability.
Utility costs

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Term	Abbreviation	Description
Value Added Tax	VAT
Value Chain Player	VCP	Participants in Value Chain
Value-at-Risk	VaR	VaR is the potential loss of a portfolio over a target time horizon with a given level of confidence, based on projected distribution of asset returns.
Virtual Currency		A digital representation of value that can be digitally traded and functions as a medium of exchange; and/or a unit of account; and/or a store of value, but does not have legal tender status in any jurisdiction and is not issued nor guaranteed by any jurisdiction
Virtual Private Networking	VPN	A secure way to access a network by connecting to a remote access server through another network or the internet
Volatility

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Term	Abbreviation	Description
Weighted Average Cost	WAC
Weighted Average Time to Maturity	WATM
Weighted Average Yield Rate	WAYR
West Texas Intermediate Crude Oil Prices	WTI
Willfully Mutilated/Altered/Defaced Bank Notes		Currency notes defaced with drawings, words, numbers, signs or symbols where the serial number, date, signature, value, or security feature of the currency note has been altered in any significant way
Withholding Tax	WHT
Working capital loan
Working Groups	WG	Teams established under National Financial Inclusion Strategy (NFIS) to cover NFIS focus areas (digital finance and payments, MSME finance, consumer protection and financial literacy & capacity building) and to cover key three enable (data, infrastructure, and policy tools and enabling regulatory environment) of which act as a consultation forum for NFIS focus areas.
World Currency Rates		Exchange rates of major foreign currencies against US dollar.
World Economic Outlook	WEO

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Term	Abbreviation	Description
Year on Year basis Inflation		The percentage change of the current month CPI over same month CPI of the last year
Yield		The coupon or discount when expressed as a percentage of the price.
Yield Curve		A graphical depiction of the relationship between the yield on the securities and different maturities.
Yields on government securities

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Term	Abbreviation	Description
Zero Coupon Bond		A bond that does not pay interest during the life of the bond. Instead, investors buy a zero coupon bond at a deep discount on the face value. The face value of the bond is paid at the maturity.

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