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Definition of Dual-currency issues
Eurobonds that pay coupon interest in one currency but pay the principal in a different
Dollar deposits held in Singapore or other Asian centers.
Also called on-the-run or current coupon issues or bellwether issues. In the secondary
A currency that is not freely convertible to other currencies due to exchange controls.
Taking advantage of divergences in exchange rates in different money markets by
The value of a portfolio of specific amounts of individual currencies, used as the basis for
A financial future contract for the delivery of a specified foreign currency.
An option to buy or sell a foreign currency.
Related: Exchange rate risk
An agreement by the parties to a transaction to share the currency risk associated with
Asset allocation in which the investor chooses among investments denominated in
An agreement to swap a series of specified payment obligations denominated in one currency
Related: Benchmark issues
Dual syndicate equity offering
An international equity placement where the offering is split into two
A short-term fixed rate time deposit denominated in a currency other than the local
The money market for borrowing and lending currencies that are held in the form of
Securities sold in the Euromarket. That is, securities initially sold to investors
European Currency Unit (ECU)
An index of foreign exchange consisting of about 10 European currencies,
Foreign currency option
An option that conveys the right to buy or sell a specified amount of foreign
Foreign currency translation
The process of restating foreign currency accounts of subsidiaries into the
A freely convertible currency that is not expected to depreciate in value in the foreseeable future.
Such a clause on a Euro loan permits the borrower to switch from one currency to
Give the borrower the possibility of drawing a loan in different currencies.
The market in which a new issue of securities is first sold to investors.
The currency in which the parent firm prepares its own financial statements; that is, U.S.
A foreign currency held by a central bank or monetary authority for the purposes of
1) Parts of stock returns not explained by the explanatory variable (the market-index return). They
Assets that remain after sufficient assets are dedicated to meet all senior debtholder's claims in full.
Related: equity claim
Residual dividend approach
An approach that suggests that a firm pay dividends if and only if acceptable
Lost wealth of the shareholders due to divergent behavior of the managers.
A method of allocating the purchase price for the acquisition of another firm among the
Related: unsystematic risk
Usually refers to the value of a lessor's property at the time the lease expires.
Retail investors, individual investors
Small investors who commit capital for their personal account.
Small issues exemption
Securities issues that involve less than $1.5 million are not required to file a
A currency that is expected to drop in value relative to other currencies.
Specific issues market
The market in which dealers reverse in securities they wish to short.
Virtual currency option
A new option contract introduced by the PHLX in 1994 that is settled in US$ rather
Residual income (RI)
The profit remaining after deducting from profit a notional cost of capital on the investment in a business or division of a business.
The value attributed to a company to represent all future cash flows
dual pricing arrangement
a transfer pricing system that allows
the profit earned by a responsibility center that exceeds an amount "charged" for funds committed to that center
Also called economic value added. Profit minus cost of capital employed.
A policy of decreasing the rate of growth of the money supply gradually over an extended period of time, so that inflation can adjust with smaller unemployment cost. Contrast with cold-turkey policy.
A currency, frequently the U.S. dollar, that is used by other countries to denominate the assets they hold as international reserves.
Individual Retirement Account
A personal savings account into which a defined
Individual Retirement Annuity
An IRA comprised of an annuity that is managed
Emerging Issues Task Force (EITF)
A special committee of the Financial Accounting Standards Board established to reach consensus of how to account for new and unusual financial transactions that have the potential for creating differing financial reporting practices.
Emerging Issues Task Force (EITF)
A separate committee within the Financial Accounting Standards Board composed of 13 members representing CPA firms and preparers of financial statements
Typically estimated based on the present value of the after-tax cash flows expected to be earned after the forecast period.
Insurance that is offered to individuals rather than groups.
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