ECB (European Central Bank)
The Bank created to monitor the monetary policy of the 12 countries that have converted to the euro from their national currencies.

Economic capital
Economic capital is an internally prescribed amount of capital. It is the amount of capital a bank or insurer should have to support the risks it faces.

EIB (European Investment Bank)
The financial body of the European Union which grants loans and guarantees to finance certain categories of investment projects.

Embedded value
The embedded value is an estimate of the economic value of a closed portfolio company, regardless of the value attributable to future production. Embedded value equals the company shareholders' equity adjusted to market value as of the date of valuation, plus the value of the policy portfolio as of the date of evaluation.

Environmental impact
Any environmental change, positive or negative, partly or fully deriving from the organisation's activity, products or services.

EPS (Earnings per share)
Net profit divided by the average number of outstanding shares.

Ethical fund
An investment fund that acts according to SRI (Socially Responsible Investment) criteria.

External Audit
An examination of a company's accounting records and books conducted by an outside professional, in order to determine whether the company is maintaining records according to the generally accepted accounting principles (GAAP).