C

Claims on (foreign) governments

Treasury bills and other securities issued by (foreign) governments and international organizations in convertible and other currencies.

Clearing

The administrative handling of payment orders through the Centrale Bank van Aruba between two or more financial institutions, leading to the establishment of final positions (net debit or credit) between these institutions for settlement.

Coins issued

The Government issues coins, which are, therefore, its liability. The Centrale Bank van Aruba buys the coins and resells them at face value to the commercial banks and to the public.

Commercial banks

Financial institutions licensed to carry out banking operations with residents. These banks grant loans, and have among their liabilities deposits transferable by check or otherwise usable in making payments.

Commercial loan

An overdraft or loan granted for business and commercial purposes (other than to the government), including loans that are secured by real estate.

Consumer price index

An index of the development of prices of goods and services. It is often referred to as 'the cost of living index'. The Consumer Price Index, produced by the Central Bureau of Statistics, is a Laspeyres type of index, and is based on the results of household expenditure surveys conducted by this Bureau. The latest survey was conducted during the period October 1998 through January 1999. The current base period is September 2000.

Credit extensions (supervisory term)

Loans, overdraft facilities, guarantees and all other forms of credit, irrespective of form or collateral.

Current account (balance of payments)

The current account of the balance of payments shows transactions in real resources (goods, services, income) and current transfers. The major classifications of Aruba's current account are:

Current transfers (balance of payments)

Private and official transfers, i.e., workers' remittances and other current transfers of individuals as well as pension and education payments and grants.

D

D.O.W.

Abbreviation for Department of Public Works ('Dienst Openbare Werken').