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Definition of IMF
See International Monetary Fund.
Organization originally established to manage the postwar fixed exchange rate system.
An agreement signed by the original United Nations members in 1944 that
A form of international reserve assets, created by the imf in 1967, whose
Site 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.
Special drawing right, the name given to the "currency" of the imf.
For investment companies, the management fee and "other expenses,"
An investment company that invests in stocks and bonds. The same as a balanced mutual fund.
This is a fund that buys common stock, preferred stock and bonds. The same as a
An international bank headquartered in Basel, Switzerland, which
The measure of a fund's or stocks risk in relation to the market. A beta of 0.7 means
The beta of a fund is determined as follows:
A contract for privately placed debt.
An agreement to invest cash in a project to the extent required to cover any cash
An investment company that sells shares like any other corporation and usually does not
An understanding between a company and the host government that specifies the
Cost of funds
Interest rate associated with borrowing money.
Dividend yield (Funds)
Indicated yield represents return on a share of a mutual fund held over the past 12
Domestic International Sales Corporation (DISC)
A U.S. corporation that receives a tax incentive for
agreement between two countries that taxes paid abroad can be offset against
Employee stock fund
A firm-sponsored program that enables employees to purchase shares of the firm's
Investment funds established for the support of institutions such as colleges, private
Equity contribution agreement
An agreement to contribute equity to a project under certain specified
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Non-interest bearing deposits held in reserve for depository institutions at their district Federal
Federal funds market
The market where banks can borrow or lend reserves, allowing banks temporarily
Federal funds rate
This is the interest rate that banks with excess reserves at a Federal Reserve district bank
Fiscal agency agreement
An alternative to a bond trust deed. Unlike the trustee, the fiscal agent acts as an
Forward Fed funds
Fed funds traded for future delivery.
Forward rate agreement (FRA)
agreement to borrow or lend at a specified future date at an interest rate
Set of funds with different investment objectives offered by one management company. In many
Security analysis that seeks to detect misvalued securities by an analysis of the firm's
The product of a statistical model to predict the fundamental risk of a security using not
In the model for calculating fundamental beta, ratios in risk indexes other than
Debt maturing after more than one year.
The ratio of a pension plan's assets to its liabilities.
Related: interest rate risk
Funds From Operations (FFO)
Used by real estate and other investment trusts to define the cash flow from
A mutual fund that can invest anywhere in the world, including the U.S.
A fund that may employ a variety of techniques to enhance returns, such as both buying and
High-coupon bond refunding
Refunding of a high-coupon bond with a new, lower coupon bond.
A mutual fund providing for liberal current income from investments.
Investment fund designed to match the returns on a stockmarket index.
Interest rate agreement
An agreement whereby one party, for an upfront premium, agrees to compensate the
International Bank for Reconstruction and Development - IBRD or World Bank
international Bank for Reconstruction and Development makes loans at nearly conventional terms to countries for projects of high
International Banking Facility (IBF)
international Banking Facility. A branch that an American bank
A collective term that refers to global bonds, Eurobonds, and foreign bonds.
International Depository Receipt (IDR)
A receipt issued by a bank as evidence of ownership of one or more
The attempt to reduce risk by investing in the more than one nation. By
International finance subsidiary
A subsidiary incorporated in the U.S., usually in Delaware, whose sole
International Fisher effect
States that the interest rate differential between two countries should be an
A mutual fund that can invest only outside the United States.
Related: See external market.
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
Liability funding strategies
Investment strategies that select assets so that cash flows will equal or exceed
A mutual fund with shares sold at a price including a large sales charge -- typically 4% to 8% of
London International Financial Futures Exchange (LIFFE)
A London exchange where Eurodollar futures
Low-coupon bond refunding
Refunding of a low coupon bond with a new, higher coupon bond.
London International Financial Futures Exchange (LIFFE)
London exchange where Eurodollar futures as well as futures-style options are traded.
A bank is said to match fund a loan or other asset when it does so by buying (taking) a deposit of
Gold held by governmental authorities as a financial asset.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
Money market fund
A mutual fund that invests only in short term securities, such as bankers' acceptances,
Mutual funds are pools of money that are managed by an investment company. They offer
Mutual fund theorem
A result associated with the CAPM, asserting that investors will choose to invest their
Net advantage of refunding
The net present value of the savings from a refunding.
No load mutual fund
An open-end investment company, shares of which are sold without a sales charge.
A mutual fund that does not impose a sales commission. Related: load fund
Not permitted, under the terms of indenture, to be refundable.
A contract for privately placed debt.
Objective (mutual fund)
The fund's investment strategy category as stated in the prospectus. There are
Also called a mutual fund, an investment company that stands ready to sell new shares to the
Overfunded pension plan
A pension plan that has a positive surplus (i.e., assets exceed liabilities).
Preferred stock agreement
A contract for preferred stock.
Private Export Funding Corporation (PEFCO)
Company that mobilizes private capital for financing the
As used in connection with project financing, an agreement to purchase a specific
Resembles a sinking fund except that money is used only to purchase bonds if they are selling
Pure index fund
A portfolio that is managed so as to perfectly replicate the performance of the market portfolio.
Raw material supply agreement
As used in connection with project financing, an agreement to furnish a
Eligible for refunding under the terms of indenture.
Also called a prerefunded bond, one that originally may have been issued as a general
The redemption of a bond with proceeds received from issuing lower-cost debt obligations
A mutual fund that invests in a specific geographical area overseas, such as Asia or Europe.
An agreement with a commitment by the seller (dealer) to buy a security back from
A fund accounting for all revenues from an enterprise financed by a municipal revenue bond.
Revolving credit agreement
A legal commitment wherein a bank promises to lend a customer up to a
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in Singapore.
Single country fund
A mutual fund that invests in individual countries outside the United States.
Sinking fund requirement
A condition included in some corporate bond indentures that requires the issuer to
A revision to the bretton woods international monetary system which was signed at
In a rights issue, agreement that the underwriter will purchase any stock not purchased by investors.
Contracts where the bidding firm in a takeover attempt agrees to limit its holdings
Stopping curve refunding rate
A refunding rate that falls on the stopping curve.
Cash flow available after payment of taxes in the project.
Tax clawback agreement
An agreement to contribute as equity to a project the value of all previously
Term Fed Funds
Fed funds sold for a period of time longer than overnight.
An agreement to put a specified amount of product per period through a particular
An agreement to put a specified amount of raw material per period through a particular
Mutual funds that do not charge an upfront or back-end commission, but instead take out up to
Two-fund separation theorem
The theoretical result that all investors will hold a combination of the riskfree
Underfunded pension plan
A pension plan that has a negative surplus (i.e., liabilities exceed assets).
Debt maturing within one year (short-term debt). See: funded debt.
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