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<strong>State tax offset</strong> – The withholding of a borrower' s state income tax refund to repay a defaulted loan.
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Lombard rate (E4)<br />The rate of interest usually 112 per cent above the discount rate charged by the BUNDESBANK when acting in its capacity as LENDER OF LAST RESORT. Banks can borrow for up to three months against the collateral of certain high-quality securities, which include treasury bills and federal bonds.
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primary employment (EO) see employment multiplier
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