de facto

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Related to De facto independence: de jure

De facto

Existing in actual fact although not by official recognition.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

De Facto

Existing in fact, but not by legal standard. In business, one occasionally makes reference to "de facto" monopolies in situations where alternatives to a certain brand may exist, but the brand has such a large market share that the alternatives may as well not exist. Likewise, some analysts of the 2008 recession have discussed the "de facto" nationalization of the banking industry, in which some governments, notably the British, bought some banks outright and implicitly guaranteed the existence of all other banks.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

de facto

In fact, in actuality, as things are really done. The phrase is used to express a state of affairs or condition that might not be technically legal, but which has the same effect as the legal condition. Here are two examples:
• When an apartment complex allowed the power to be disconnected for nonpayment and failed to secure a reconnection, it amounted to a de facto eviction of all the tenants (also called a constructive eviction).
• The IRS has ruled that a long-term lease of property with the right to purchase for $1 at the
     end of the term is not a true lease, but a de facto installment sale.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The widely cited measures of de jure independence are of limited use in establishing a relationship between central bank institutional design and price stability because they do not measure or even approximate de facto independence.
Note that these changes in de facto independence can be driven either by the executive branch or the central bank, or both.
First, the turnover rate of central bank leadership was utilized as a proxy for de facto independence; however, this is not a suitable proxy because low turnover rates may imply acquiescence to the government and high turnover rates may be because of unrelated factors such as scandals like those that occurred at the Bank of Japan in 1998.
Beijing threatens to attack if Taiwan moves to formalize its de facto independence.
Since Ma took office last year, cross-strait relations have turned a corner, as Ma has increasingly de-emphasized Taiwan's sovereignty as a means to woo China, which rankles over Taiwan's de facto independence and the pro-sovereignty rhetoric of Ma's predecessors.
In fact, such has been the case since Kurdistan acquired a sort of de facto independence in 1991, with those two parties being regularly voted into power - first separately, and now collectively - that they have almost established a sense of predictable complacency.
China has repeatedly warned that any Taiwanese moves to formalise its de facto independence could be met with war.
Interest centres on the Russians of southern and eastern Ukraine, and on Transdniestria, which would love its de facto independence from Moldova to be formally recognised by Russia.
Later the State Duma, the lower house, was expected to approve a similar measure.The two regions are internationally recognised as part of Georgia, but they have enjoyed de facto independence since breaking from Tbilisi's control in the early 1990s.
Saakashvili last week ordered Georgian troops into the tiny enclave of South Ossetia, which has maintained de facto independence since 1992, in a bid to restore "constitutional order".
The conflict began on Friday when Georgia launched a largescale military operation to retake South Ossetia, which has had de facto independence since 1992.
TheUnited Nations Security Council met yesterday for the fourth time in as many days to try to resolve a conflict that began when Georgia launched a large-scale military operation to retake South Ossetia, which has had de facto independence since 1992.