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Definition of eurodollars
Dollars held on deposit in a bank outside the United States.
Deposits denominated in U.S. dollars but held in banks located outside the United States, such as in Canada or France.
An agreement permitting a bank customer to borrow either domestic dollars from the
In the Euromarket, a period over which eurodollars are sold is said to be neutral if it does not
A bank depositing eurodollars with (selling eurodollars to) another bank is often said to be
Fed regulation currently requiring member banks to hold reserves against their net borrowings
In the interbank Eurodollar deposit market, an either-way market is one in which the bid
International Banking facility. A branch that an American bank
A syndicated confirmed credit line with attached options.
An agreement by which a syndicate of banks indicates a willingness to accept
A loan facility on a customers account at a financial institution allowing the customer to overdraw up to a certain agreed limit for an agreed period.
Bank borrowing facility to provide finance while the firm replaces U.S. commercial paper
A bank machine, sometimes referred to as an automated teller machine (ATM).
A form of organization commonly used by foreign banks to enter the U.S. market. An agency
Requirement that none of an order be executed unless all of it can be executed at the specified price.
An arrangement whereby a security issue is canceled if the underwriter is unable
hours, machine hours or volume of production
American Depositary Receipts (ADRs)
Certificates issued by a U.S. depositary bank, representing foreign
the amount of overhead that has been assigned to Work in Process Inventory as a result of productive activity; credits for this amount are to an overhead account
An option is at-the-money if the strike price of the option is equal to the market price of the
Brokerage house clerical operations that support, but do not include, the trading of stocks and
BAN (Bank anticipation notes)
Notes issued by States and municipalities to obtain interim financing for
Money in a bank cheque account, the difference between receipts and payments.
Bank collection float
The time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the payer's bank.
Bank discount basis
A convention used for quoting bids and offers for treasury bills in terms of annualized
A draft addressed to a bank.
A guaranteed form of payment which is issued in amounts over $5,000.
Bank for International Settlements (BIS)
An international bank headquartered in Basel, Switzerland, which
Line of credit granted by a bank to a customer.
Money owed to the bank in a cheque account where payments exceed receipts.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
A comparison between the cash position recorded on a company’s
A computer message system linking major banks. It is used not for effecting payments, but as a
A short-term credit investment created by a non-financial firm and guaranteed by a
A bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque.
State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from
The reorganization or liquidation of a firm that cannot pay its debts.
Bankruptcy cost view
The argument that expected indirect and direct bankruptcy costs offset the other
The risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk.
The argument that expected bankruptcy costs preclude firms from being financed entirely
A contract for privately placed debt.
To obtain or receive money on loan with the promise or understanding that it will be repaid.
Borrower (Credit Insurance)
A consumer who borrows money from a lender.
In the mortgage pipeline, the risk that prospective borrowers of loans committed to be
Bretton Woods Agreement
An agreement signed by the original United Nations members in 1944 that
This 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.
Call money rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance
Canada Pension Plan (CPP)
A plan that provides retirement and long term disability income benefits to residents of Canadian provinces (excluding Quebec).
Canada Savings Bonds
A bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value.
Canadian Deposit Insurance Corporation
Better known as CDIC, this is an organization which insures qualifying deposits and GICs at savings institutions, mainly banks and trust companys, which belong to the CDIC for amounts up to $60,000 and for terms of up to five years. Many types of deposits are not insured, such as mortgage-backed deposits, annuities of duration of more than five years, and mutual funds.
Cash deficiency agreement
An agreement to invest cash in a project to the extent required to cover any cash
A public agency responsible for regulating and controlling an economy's monetary and financial institutions. It is the sole money-issuing authority.
Certificate of deposit (CD)
Also called a time deposit, this is a certificate issued by a bank or thrift that
Certificate of Deposit (CD)
A bank deposit that cannot be withdrawn for a specified period of time. See also term deposit.
chief financial officer (CFO)
officer who oversees the treasurer and controller and sets overall financial strategy.
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A co-borrower is the secondary borrower on a borrowing account. The primary borrower will receive mailed monthly statements while the co-borrower has the option to choose whether or not he/she will also receive statements.
A privately owned, profit-seeking firm that accepts deposits and makes loans.
Raw materials or subassemblies used to make either finished goods
System whereby customers make payments to a regional collection center which transfers funds to
An understanding between a company and the host government that specifies the
Conditional Sale Agreement
An agreement entered into between a conditional buyer and a conditional seller setting out the terms under which goods change hands.
A 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.
A merchant banking subsidiary set up by several banks that may or may not be of the
See real dollars.
Controlled foreign corporation (CFC)
A foreign corporation whose voting stock is more than 50% owned
A variable like GDP is measured in current dollars if each year's value is measured in prices prevailing during that year. In contrast, when measured in real or constant dollars, each year's value is measured in a base year's prices.
A bank deposit that can be withdrawn on demand, such as a deposit in a checking account.
Checking accounts that pay no interest and can be withdrawn upon demand.
The process whereby the banking system transforms a dollar of reserves into several dollars of money supply.
Central bank switching of government deposits between the central bank and commercial banks.
Depository transfer check (DTC)
Check made out directly by a local bank to a particular firm or person.
Depository Trust Company (DTC)
DTC is a user-owned securities depository which accepts deposits of
The direct transfer of payroll funds from the company bank account
A system where funds are electronically credited to your account by a financial institution or a payroll service. For example, you can arrange with your employer to have your pay cheques automatically deposited into your no fee bank account.
Domestic International Sales Corporation (DISC)
A U.S. corporation that receives a tax incentive for
Part of a nation's internal market representing the mechanisms for issuing and trading
agreement between two countries that taxes paid abroad can be offset against
Dow Jones industrial average
This is the best known U.S.index of stocks. It contains 30 stocks that trade on
Dow Jones Industrial Average
Index of the investment performance of a portfolio of 30 “blue-chip” stocks.
economic components model
Abrams’ model for calculating DLOM based on the interaction of discounts from four economic components.
Electronic depository transfers
The transfer of funds between bank accounts through the Automated
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
Equity contribution agreement
An agreement to contribute equity to a project under certain specified
A bank that regularly accepts foreign currency denominated deposits and makes foreign currency loans.
A short-term fixed rate time deposit denominated in a currency other than the local
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Export-Import Bank (Ex-Im Bank)
The U.S. federal government agency that extends trade credits to U.S.
All the costs incurred during the manufacturing process, minus the
Federal Deposit Insurance Corporation (FDIC)
A federal institution that insures bank deposits.
Federal Financing Bank
A federal institution that lends to a wide array of federal credit agencies funds it
Federal Home Loan Banks
The institutions that regulate and lend to savings and loan associations. The
Federal Reserve Banks
The twelve district banks in the Federal Reserve System.
Fiat Money is paper currency made legal tender by law or fiat. It is not backed by gold or silver and is not necessarily redeemable in coin. This practice has had widespread use for about the last 70 years. If governments produce too much of it, there is a loss of confidence. Even so, governments print it routinely when they need it. The value of fiat money is dependent upon the performance of the economy of the country which issued it. Canada's currency falls into this category.
Fiscal agency agreement
An alternative to a bond trust deed. Unlike the trustee, the fiscal agent acts as an
That portion of total overhead costs which remains constant in size
fixed overhead spending variance
the difference between the total actual fixed overhead and budgeted fixed overhead;
fixed overhead volume variance
see volume variance
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
A bond issued on the domestic capital market of anther company.
Foreign bond market
That portion of the domestic bond market that represents issues floated by foreign
Foreign Corrupt Practices Act (FCPA)
a law passed by U.S. Congress in 1977 that makes it illegal for a U.S. company to engage in various “questionable” foreign payments and
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
Foreign direct investment (FDI)
The acquisition abroad of physical assets such as plant and equipment, with
Foreign equity market
That portion of the domestic equity market that represents issues floated by foreign companies.
Currency from another country.
The currency of a foreign country.
Foreign exchange controls
Various forms of controls imposed by a government on the purchase/sale of
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