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Definition of Medium-term note
A corporate debt instrument that is continuously offered to investors over a period of
A non-underwritten Euronote issued directly to the market. Euro-
notes issued by states and municipalities to obtain interim financing for
A measure of the goodness of fit of the relationship between the dependent and
Short-term securities that are repayable immediately upon the holder's demand.
Liability-matching models that assume that the liability payments and the asset cash
Withdrawal of funds from a financial institution in order to invest them directly.
Commercial paper backed by normal bank lines plus a letter of credit from a
Short- to medium-term debt instrument sold in the Eurocurrency market.
note the maturity of which can be extended by mutual agreement of the issuer and
Institutions that provide the market function of matching borrowers and lenders or
note that allows investors to switch between two different types of debt.
note whose interest payment varies with short-term interest rates.
spread The spread between the interest rate offered in two sectors of the bond market for
An exchange of one bond for another based on the manager's projection of a
Typically 1-10 years.
Investment through a financial institution. Related: disintermediation.
Inverse floating rate note
A variable rate security whose coupon rate increases as a benchmark interest rate declines.
Liquid yield option note (LYON)
Zero-coupon, callable, putable, convertible bond invented by Merrill
Liquidity theory of the term structure
A biased expectations theory that asserts that the implied forward
In accounting information, one year or greater.
Value of property, equipment and other capital assets minus the depreciation. This is an
An obligation having a maturity of more than one year from the date it was issued. Also
Indicator of financial leverage. Shows long-term debt as a proportion of the
Long-term debt ratio
The ratio of long-term debt to total capitalization.
Long-term financial plan
Financial plan covering two or more years of future operations.
Amount owed for leases, bond repayment and other items due after 1 year.
Long-term debt to equity ratio
A capitalization ratio comparing long-term debt to shareholders' equity.
Liquid yield option note (LYON)
Zero-coupon, callable, putable, convertible bond invented by Merrill Lynch & Co.
Money market notes
Publicly traded issues that may be collateralized by mortgages and MBSs.
Short-term notes issued by municipalities in anticipation of tax receipts, proceeds from a
Debt instruments with initial maturities greater than one year and less than 10 years.
A contract for privately placed debt.
Note issuance facility (NIF)
An agreement by which a syndicate of banks indicates a willingness to accept
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
Other long term liabilities
Value of leases, future employee benefits, deferred taxes and other obligations
Project notes (PNs)
Project notes are issued by municipalities to finance federally sponsored programs in
Written promise to pay.
Short-term financial plan
A financial plan that covers the coming fiscal year.
Short-term investment services
Services that assist firms in making short-term investments.
Short-term solvency ratios
Ratios used to judge the adequacy of liquid assets for meeting short-term
Short-term tax exempts
Short-term securities issued by states, municipalities, local housing agencies, and
TANs (tax anticipation notes)
Tax anticipation notes issued by states or municipalities to finance current
Often referred to as bullet-maturity bonds or simply bullet bonds, bonds whose principal is
Term Fed Funds
Fed Funds sold for a period of time longer than overnight.
Term life insurance
A contract that provides a death benefit but no cash build-up or investment component.
A bank loan, typically with a floating interest rate, for a specified amount that matures in between
Provides a death benefit only, no build-up of cash value.
A repurchase agreement with a term of more than one day.
Term to maturity
The time remaining on a bond's life, or the date on which the debt will cease to exist and
Excess of the yields to maturity on long-term bonds over those of short-term bonds.
A closed-end fund that has a fixed termination or maturity date.
The value of a bond at maturity, typically its par value, or the value of an asset (or an entire
Terms of sale
Conditions on which a firm proposes to sell its goods services for cash or credit.
Terms of trade
The weighted average of a nation's export prices relative to its import prices.
Debt obligations of the U.S. Treasury that have maturities of more than 2 years but less than 10 years.
U.S. Treasury note
U.S. government debt with a maturity of one to 10 years.
Bills that are payable in more than one year, such as a mortgage or bonds.
notes receivable are promissory notes that the company has accepted from its debtors. Most promissory notes pay interest. Those that are due within a year are shown under “Current Assets.” Those that mature in more than a year would be listed under “Long-term Assets.” If a note is being
Amounts owing after more than one year.
Amounts owed by the company that have been formalized by a legal document called a note.
Amounts owed to the company that have been formalized by a legal agreement called a note.
coefficient of determination
a measure of dispersion that
predetermined overhead rate
an estimated constant charge per unit of activity used to assign overhead cost to production or services of the period; it is calculated by dividing total budgeted annual overhead at a selected level of volume or activity by that selected measure of volume or activity; it is also the standard overhead application rate
The relationship between the yields on fixed-interest
A debt for which payments will be required for a period of more than
Firm that raises money from many small investors and provides financing to businesses or other
terms of sale
Credit, discount, and payment terms offered on a sale.
Any institution, such as a bank, that takes deposits from savers and loans them to borrowers.
The process whereby financial intermediaries channel funds from lender/savers to borrower/spenders.
A good used in producing another good.
Medium of Exchange
Any item that can be commonly exchanged for goods and services.
See term to maturity.
An interest-earning bank deposit that cannot be withdrawn without penalty until a specific time.
Term to Maturity
Period of time from the present to the redemption date of a bond.
Term Structure of Interest Rates
Relationship among interest rates on bonds with different terms to maturity.
Terms of Trade
The quantity of imports that can be obtained for a unit of exports, measured by the ratio of an export price index to an import price index.
Additional pay due to an employee whose employment is
Term Life Insurance
A plan of insurance which covers the insured for only a certain period of time and not necessarily for his or her entire life. The policy pays a death benefit only if the insured dies during the term.
Yearly Renewable Term Insurance
Sometimes, simply called YRT, this is a form of term life insurance that may be renewed annually without evidence of insurability to a stated age.
Conditions under which credit is extended by a lender to a borrower.
Optional periods of time which the conditions of a contract will be carried out.
An independent third party that may act as a mediator during negotiations.
Long Term Debt
Liability due in a year or more.
Longer-Term Fixed Assets
Assets having a useful life greater than one year but the duration of the 'long term' will vary with the context in which the term is applied.
Written promise committing the maker to pay the a specified sum of money either on demand or on some future date, with or without interest.
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
This is usually the duration of a loan.
A secured loan made to business concerns for a specific period (normally three to ten years). It is repaid with interest, usually with periodical payments.
A list of the major points of the proposed financing being offered by an investor.
The period of time during which a financial contract – such as a GIC or a loan – is in force.
The time period during which a policy is in force, or the time it takes for a policy to reach maturity.
A product that provides life coverage for a specified duration typically not beyond the age of 75.
Terminal Illness Insurance (Credit Insurance)
Coverage that provides a lump-sum payment should you become terminally ill. The payment is made to your creditors to pay off your debt owing.
Cease all legal obligations under a contract.
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