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Confederation of British Industry (LO) The major representative body for private and public sector firms of UK industry. The CBI was created in 1965 as a result of the merging together of the Federation of British Industries (founded in 1916), the British Employers' Federation and the National Association of British Manufacturers.
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emission reductions banking (Q2)<br />An environmental control policy allowing a source of pollution which reduces its emissions more than legally required to ' bank' the right to pollute more in the future. Thus over a period of time the flow of emissions is on average at the legal limit.
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international monetary system (F3)<br />The financial arrangements between sovereign states in force at a particular time. These consist largely of agreements for the fixing of exchange rates and the settlement of debts, particularly balance of payments deficits. Countries have a choice between market mechanisms under FLOATING EXCHANGE RATES or an order managed by an international body. The most famous international monetary systems have been the GOLD STANDARD, BRETTON WOODS and the EUROPEAN MONETARY SYSTEM.<br /> <br /><em>Reference</em><br />Solmon, R. (1977) The International Monetary System, 1945-76: An Insider's View, New York and London: Harper & Row.<br /> Tew, B. (1982) The Evolution of the International Monetary System, 1945 to 1981, London: Hutchinson.
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<strong>Standard repayment schedule</strong> – A repayment schedule under which the borrower pays the same amount for each installment payment throughout the entire repayment period OR pays an amount that is adjusted to reflect annual changes in a variable-rate loan.
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