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One thousand million (1,000,000,000 or 109).

For example:

EUR 456 billion = EUR 456,000,000,000.

Often abbreviated to 'bn' or 'Bn'. For example EUR 456bn.


Historically - in the UK and some other countries - 'billion' used to refer mathematically to 1,000,000,000,000 (or 1012).

This historical usage never became well-established in finance, and is now - for most practical purposes - defunct.

See also