Glossary

If you are interested in learning more about what financial language means, or what Clear Junction can do for your business, read through our glossary below or contact us.

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Associations/Institutions/Regulatory Bodies

Bank of England (BoE)

The Bank of England (BoE) is the UK’s central bank. Its main responsibilities are working to ensure monetary and financial stability for British people. The Bank of England also issues banknotes and sets UK interest rates (through the Monetary Policy Committee).

European Banking Authority (EBA)

The European Banking Authority (EBA) is an independent, regulatory agency of the European Union. Its activities include conducting stress tests on European banks and it works to ensure effective and consistent regulation across the European banking sector.

European Central Bank (ECB)

The European Central Bank (ECB) is the central bank of the 19 European Countries that have adopted the euro. Its main responsibility is to maintain price stability by working to control inflation, as well as helping contribute to the safety and soundness of the European banking system.

Financial Conduct Authority (FCA)

The Financial Conduct Authority (FCA) is an independent financial regulatory body in the UK. Its responsibilities include protecting consumers, maintaining the stability of the financial services industry, and promoting competition between financial service providers.

Pay.UK

Pay.UK runs the UK’s retail payments operations, including the Bacs Payment System and the Faster Payments System. Pay.UK works to ensure that payments flow without interruption, as well as driving competition and innovation in the payments market.

The Payments Association

The Payments Association is a payments community in the UK, EU and Asia. Its main purpose is to empower the most influential payments community, enabling industry players to connect, collaborate and learn. In addition, The Payments Association conducts extensive industry research which helps to inform community members.

Federal Reserve

The Federal Reserve is the central bank of the US. It works to support responsible innovation within fintech and financial services through regulation, supervision and examination. It also conducts monetary policy activities in the US to promote stability within the US economy.

Common Acronyms

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