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<strong>Principal balance</strong> – The outstanding amount of a loan, on which the lender charges interest.
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Eurocurrency market (G2)<br />The international market dealing in bank deposits in the major currencies, including the US dollar, yen, Deutschmark, Swiss franc, French franc, guilder and ecu, which has been in existence since the 19 50s. Its early growth was stimulated by REGULATION Q which encouraged the expatriation of US dollars in search of higher interest rates.
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eftpos (G2)<br />Electronic funds transfer at point of sale, i.e. automatic debiting of customers' bank or credit card accounts. This is the major method of introducing the cashless society but unlikely to replace the present variety of payment methods.<br /><em>See also:</em> debit card
Standard Statistical Metropolitan Area (J4)<br />An urban area of the USA. This concept was used until June 1963 when it was replaced by the METROPOLITAN STATISTICAL AREA.
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