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Financial Terms | |
Bretton Woods |
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Definition of Bretton WoodsBretton WoodsSite of a 1944 international monetary conference at which the postwar fixed exchange rate system was structured and the International Monetary Fund (IMF) and World Bank were created.
Related Terms:Bretton Woods AgreementAn agreement signed by the original United Nations members in 1944 that Gold exchange standardA system of fixing exchange rates adopted in the bretton woods agreement. It Smithsonian agreementA revision to the bretton woods international monetary system which was signed at World BankA multilateral development finance agency created by the 1944 bretton woods, New American Stock Exchange (AMEX)The second-largest stock exchange in the United States. It trades Bill of exchangeGeneral term for a document demanding payment. Bond agreementA contract for privately placed debt. ![]() Buy/Sell AgreementThis is an agreement entered into by the owners of a business to define the conditions under which the interests of each shareholder will be bought and sold. The agreement sets the value of each shareholders interest and stipulates what happens when one of the owners wishes to dispose of his/her interest during his/her lifetime as well as disposal of interest upon death or disability. Life insurance, critical illness coverage and disability insurance are major considerations to help fund this type of agreement. Cash deficiency agreementAn agreement to invest cash in a project to the extent required to cover any cash Chicago Mercantile Exchange (CME)A not-for-profit corporation owned by its members. Its primary Committee, AIMR Performance Presentation Standards Implementation CommitteeThe Association for Investment Management and Research (AIMR)'s Performance Presentation standards Implementation Commodities Exchange Center (CEC)The location of five New York futures exchanges: Commodity Concession agreementAn understanding between a company and the host government that specifies the Conditional Sale AgreementAn agreement entered into between a conditional buyer and a conditional seller setting out the terms under which goods change hands. Confidentiality AgreementA legal document whereby the one party, usually the prospective investor, pledges to keep strictly confidential, and return on request, any and all information provided by the entrepreneur seeking funding. Contract Work Hours and Safety Standards ActA federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week. ![]() Convertible exchangeable preferred stockConvertible preferred stock that may be exchanged, at the Cost Accounting Standards Board (CASB)a body established by Congress in 1970 to promulgate cost accounting Double-tax agreementagreement between two countries that taxes paid abroad can be offset against Effective Exchange RateThe weighted average of several exchange rates, where the weights are determined by the extent of our trade done with each country. Equation of ExchangeThe quantity theory equation Mv = PQ. Equity contribution agreementAn agreement to contribute equity to a project under certain specified ethical standarda standard representing beliefs about moral ExchangeThe marketplace in which shares, options and futures on stocks, bonds, commodities and indices Exchange controlsGovernmental restrictions on the purchase of foreign currencies by domestic citizens or Exchange of assetsAcquisition of another company by purchase of its assets in exchange for cash or stock. Exchange of stockAcquisition of another company by purchase of its stock in exchange for cash or shares. ![]() Exchange offerAn offer by the firm to give one security, such as a bond or preferred stock, in exchange for Exchange rateThe price of one country's currency expressed in another country's currency. exchange rateAmount of one currency needed to purchase one unit of another. Exchange Rate Mechanism (ERM)The methodology by which members of the EMS maintain their Exchange Rate, NominalThe price of one currency in terms of another, in this book defined as number of units of foreign currency per dollar. Exchange Rate, RealThe nominal exchange rate corrected for price level differences. Exchange rate riskAlso called currency risk, the risk of an investment's value changing because of currency Exchange riskThe variability of a firm's value that results from unexpected exchange rate changes or the Exchangeable SecuritySecurity that grants the security holder the right to exchange the security for the expectations theory of exchange ratesTheory that expected spot exchange rate equals the forward rate. expected standardstandard set at a level that reflects what Fair Labor Standards Act of 1938A federal Act creating standards of overtime Fiscal agency agreementAn alternative to a bond trust deed. Unlike the trustee, the fiscal agent acts as an Fixed-exchange rateA country's decision to tie the value of its currency to another country's currency, gold Fixed Exchange RateAn exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market. Flexible Exchange RateAn exchange rate whose value is determined by the forces of supply and demand on the foreign exchange market. Floating exchange rateA country's decision to allow its currency value to freely change. The currency is not Floating Exchange RateSee flexible exchange rate. Foreign exchangeCurrency from another country. Foreign ExchangeThe currency of a foreign country. Foreign exchange controlsVarious forms of controls imposed by a government on the purchase/sale of Foreign exchange dealerA firm or individual that buys foreign exchange from one party and then sells it to Foreign Exchange MarketA worldwide market in which one country's currency is bought or sold in exchange for another country's currency. Foreign Exchange ReservesA fund containing the central bank's holdings of foreign currency or claims thereon. Foreign exchange riskThe risk that a long or short position in a foreign currency might have to be closed out Foreign exchange swapAn agreement to exchange stipulated amounts of one currency for another currency Forward Exchange MarketA market in which foreign exchange can be bought or sold for delivery (and payment) at some specified future date but at a price agreed upon now. Forward exchange rateexchange rate fixed today for exchanging currency at some future date. Forward rate agreement (FRA)agreement to borrow or lend at a specified future date at an interest rate forward rate of exchangeexchange rate for a forward transaction. General Agreementon Tariffs and Trade (GATT) a treaty Gold standardAn international monetary system in which currencies are defined in terms of their gold Gold StandardA fixed exchange rate system in which a currency is directly convertible into gold. Golden parachuteCompensation paid to top-level management by a target firm if a takeover occurs. golden parachutea benefits package that is triggered by the Historical exchange rateAn accounting term that refers to the exchange rate in effect when an asset or ideal standarda standard that provides for no inefficiencies Interest rate agreementAn agreement whereby one party, for an upfront premium, agrees to compensate the London International Financial Futures Exchange (LIFFE)A London exchange where Eurodollar futures London International Financial Futures Exchange (LIFFE)London exchange where Eurodollar futures as well as futures-style options are traded. Medium of ExchangeAny item that can be commonly exchanged for goods and services. Monetary goldgold held by governmental authorities as a financial asset. New York Stock Exchange (NYSE)Also known as the Big Board or The Exhange. More than 2,00 common Nominal exchange rateThe actual foreign exchange quotation in contrast to the real exchange rate that has North American Free Trade Agreement (NAFTA)an agreement among Canada, Mexico, and the United States establishing the North American Free Trade Zone, with a resulting reduction in trade barriers Note agreementA contract for privately placed debt. Organized exchangeA securities marketplace wherein purchasers and sellers regularly gather to trade Part standardizationThe planned reduction of similar parts through the standardization perfection standardsee ideal standard Philadelphia Stock Exchange (PHLX)A securities exchange where American and European foreign practical standarda standard that can be reached or slightly Preferred stock agreementA contract for preferred stock. Purchase agreementAs used in connection with project financing, an agreement to purchase a specific Purchase AgreementThis legal document records the final understanding of the parties with respect to the proposed transaction. Raw material supply agreementAs used in connection with project financing, an agreement to furnish a Real Exchange Rateexchange rate adjusted for relative price levels. Real exchange ratesexchange rates that have been adjusted for the inflation differential between two countries. Realizable Revenue A revenue transaction where assets received in exchange for goods andservices are readily convertible into known amounts of cash or claims to cash. Repurchase agreementAn agreement with a commitment by the seller (dealer) to buy a security back from Revolving credit agreementA legal commitment wherein a bank promises to lend a customer up to a Securities and Exchange Commission (SEC)The federal agency that Securities and Exchange Commission (SEC)Federal agency responsible for regulation of securities markets in the United Securities and Exchange Commission (SEC)A federal agency that administers securities legislation, Securities & Exchange CommissionThe SEC is a federal agency that regulates the U.S.financial markets. SIMEX (Singapore International Monetary Exchange)A leading futures and options exchange in Singapore. Smithsonian agreementA revision to the Bretton Woods international monetary system which was signed at Spot exchange ratesexchange rate on currency for immediate delivery. Related: forward exchange rate. spot rate of exchangeexchange rate for an immediate transaction. standarda model or budget against which actual results are Standard containersCommon-sized containers that are used to efficiently move, standard costa budgeted or estimated cost to manufacture Standard costA predetermined cost that is based on original engineering designs and standard cost carda document that summarizes the direct standard cost systema valuation method that uses predetermined Standard costsA budget cost for materials and labour used for decision-making, usually expressed as a per unit cost that is applied to standard quantities from a bill of materials and to standard times from a Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |