Panel Bank:
It is a name given to the group of banks contributing to EURIBOR (Euro
Interbank Offer Rate). Panel bank institutions execute the largest volumes
within the Euro market providing stability and liquidity.
Parallel Loan: It’s a parallel loan which involves two
companies taking loans from their respective national financial institutions and
then lending the funds to the other company's subsidiary. A was a precursor to
currency swaps.
Paris Pair: Nickname for the U.S. Dollar/French
Franc currency pair. It was used prior to France's conversion to the Euro.
Pegging: A scheme of stabilizing a currency
by fixing its exchange rate to that of another currency.
Permitted Currency: A currency that is not restricted by
its legal and regulatory authorities for its conversion into another currency.
Pip: This is also called Basis Point. It has as value of 0.0001.
Private Currency: It is issued by a private firm or
group and acts as an alternative to a national or fiat currency.