ERM ( exchange rate mechanism ) : Det Europæiske Monetære Systems ( EMS ) valutakurs - og interventionsmekanisme for medlemslandenes respektive valutaenheders centralkurser i forhold til ecu . Disse centralkurser blev brugt til at etablere et net af bilaterale centralkurser mellem de deltagende medlemslandes valutaer .
The government deficit is defined in Protocol No 20 ( on the excessive deficit procedure ) as net borrowing of the general government . Deposit facility : a standing facility of the Eurosystem which counterparties may use to make overnight deposits , which are remunerated at a pre-specified interest rate , at an NCB ( see also key ECB interest rates ) .