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Definition of Infrastructure
Basic facilities, such as transportation, communication, and legal systems, on which economic activity depends.
Things that the business owns and are part of the business infrastructure – fixed assets may be
The International Bank for Reconstruction and Development, an international organization that provides long-term loans to developing countries to improve their infrastructure.
A merger or consolidation in which an acquirer purchases the selling firm's assets.
A form of organization commonly used by foreign banks to enter the U.S. market. An agency
A firm's productive resources.
A common element of a financial plan that describes projected capital spending and the
Notes issued by states and municipalities to obtain interim financing for
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.
A convention used for quoting bids and offers for treasury bills in terms of annualized
A draft addressed to a bank.
Line of credit granted by a bank to a customer.
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
An international bank headquartered in Basel, Switzerland, which
State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from
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
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A merchant banking subsidiary set up by several banks that may or may not be of the
Value of cash, accounts receivable, inventories, marketable securities and other assets that
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
A bank that regularly accepts foreign currency denominated deposits and makes foreign currency loans.
Exchange of assets
Acquisition of another company by purchase of its assets in exchange for cash or stock.
Export-Import Bank (Ex-Im Bank)
The U.S. federal government agency that extends trade credits to U.S.
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
Claims on real assets.
Long-lived property owned by a firm that is used by a firm in the production of its income.
Fixed asset turnover ratio
The ratio of sales to fixed assets.
A cost that is fixed in total for a given period of time and for given production levels.
Annuity contracts in which the insurance company or issuing financial institution pays a
Fixed-charge coverage ratio
A measure of a firm's ability to meet its fixed-charge obligations: the ratio of
In the Euromarket the standard periods for which Euros are traded (1 month out to a year out) are
Conventional bonds for which the coupon rate is set as a fixed percentage of the par value.
A nonnegotiable debt security that can be redeemed at some fixed price or according to
A country's decision to tie the value of its currency to another country's currency, gold
Also called a busted convertible, a convertible security that is trading like a straight
assets that pay a fixed-dollar amount, such as bonds and preferred stock.
The market for trading bonds and preferred stock.
Fixed price basis
An offering of securities at a fixed price.
Fixed-price tender offer
A one-time offer to purchase a stated number of shares at a stated fixed price,
A loan on which the rate paid by the borrower is fixed for the life of the loan.
In an interest rate swap the counterparty who pays a fixed rate, usually in exchange for a
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
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
Financial intermediaries who perform a variety of services, including aiding in the sale of
A legal proceeding for liquidating or reorganizing a business.
Value of property, equipment and other capital assets minus the depreciation. This is an
A British term for a bank that specializes not in lending out its own funds, but in providing
Money center banks
banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
The difference between total assets on the one hand and current liabilities and noncapitalized longterm
A tangible asset with unique physical properties, like a parcel of land, a mine, or a
Other current assets
Value of non-cash assets, including prepaid expenses and accounts receivable, due
PIBOR (Paris Interbank Offer Rate)
The deposit rate on interbank transactions in the Eurocurrency market
A bankruptcy in which a debtor and its creditors pre-negotiate a plan or
Publicly traded assets
assets that can be traded in a public market, such as the stock market.
Current assets minus inventories.
Identifiable assets, such as buildings, equipment, patents, and trademarks, as distinguished from a
A tangible asset with physical properties that can be reproduced, such as a building or
assets that remain after sufficient assets are dedicated to meet all senior debtholder's claims in full.
Return on assets (ROA)
Indicator of profitability. Determined by dividing net income for the past 12 months
Return on total assets
The ratio of earnings available to common stockholders to total assets.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
Wholesale mortgage banking
The purchasing of loans originated by others, with the servicing rights
wealth The part of world wealth that is traded and is therefore accessible to investors.
Anything of value that a company owns.
Cash, things that will be converted into cash within a year (such as accounts receivable), and inventory.
RATE OF RETURN ON TOTAL ASSETS
The percentage return or profit that management made on each dollar of assets. The formula is:
Things that the business owns.
Money in a bank cheque account, the difference between receipts and payments.
Money owed to the bank in a cheque account where payments exceed receipts.
Amounts receivable by the business within a period of 12 months, including bank, debtors, inventory and prepayments.
Costs that do not change with increases or decreases in the volume of goods or services
Intangible fixed assets
Non-physical assets, e.g. customer goodwill or intellectual property (patents and trademarks).
Costs that are constant within a defined level of activity but that can increase or decrease when
Tangible fixed assets
Physical assets that can be seen and touched, e.g. buildings, machinery, vehicles, computers etc.
Items owned by the company or expenses that have been paid for but have not been used up.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
assets owned by the company that do not possess physical substance; they usually take the form of rights and privileges such as patents, copyrights, and franchises.
Current refers to cash and those assets that will be turned
fixed expenses (costs)
Expenses or costs that remain the same in amount,
return on assets (ROA)
Although there is no single uniform practice for
Fixed Assets Turnover Ratio
A measure of the utilization of a company's fixed assets to
Fixed Charge Coverage Ratio
A measure of how well a company is able to meet its fixed
Return on Total Assets Ratio
A measure of the percentage return earned on the value of the
Total Debt to Total Assets Ratio
See debt ratio
a cost that remains constant in total within a specified
fixed overhead spending variance
the difference between the total actual fixed overhead and budgeted fixed overhead;
fixed overhead volume variance
see volume variance
World Trade Organization (WTO)
the arbiter of global trade that was created in 1995 under the General Agreement on Tariffs and Trade; each signatory country has one
A security that pays a specified cash flow over a
A comparison between the cash position recorded on a company’s
An item with a longevity greater than one year, and which exceeds a company’s
A cost that does not vary in the short run, irrespective of changes in any
That portion of total overhead costs which remains constant in size
A cluster of accounts that are listed after fixed assets on the balance sheet,
The reorganization or liquidation of a firm that cannot pay its debts.
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