Reálkibocsátás

Reálkibocsátás, a Hungarian term, translates to "real issuance" or "real release" in English. It refers to the issuance of securities or financial instruments that are backed by tangible assets or a company's real economic performance, rather than purely by its financial structure or market expectations. This contrasts with purely financial or speculative issuances.

In practice, reálkibocsátás implies that the value or underlying security of the issued instrument is directly linked to the actual, observable value of underlying assets, such as property, commodities, or the revenue-generating capacity of a business. For example, a bond issued by a company with substantial real estate holdings as collateral could be considered a form of reálkibocsátás. Similarly, equity issued by a company whose valuation is primarily driven by its production capacity and tangible assets, rather than intangible goodwill or future potential alone, fits this concept.

The concept emphasizes a connection to the "real economy," suggesting a lower degree of financial abstraction and a stronger foundation in physical or economic substance. This can provide a sense of stability and intrinsic value to investors. The term is often used in discussions distinguishing between different types of financial instruments and their underlying security. It highlights the importance of tangible backing in financial markets.