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Definition of NM
Abbreviation for Not Meaningful.
The option of terminating an investment earlier than originally planned.
The receipt of an exercise notice by an options writer that requires the writer to sell (in the case
This is the legal transfer on one person's interest in an insurance policy to another person or entity, such as to a bank to qualify for a loan
A shipment of goods to a party who agrees to try to sell them to third parties. A
the practice of minimizing, to the extent
any limitation on strategy options
Mortgage-backed securities (MBS) on which registered holders receive separate principal and
Mortgage-backed securities (MBS) on which registered holders receive an aggregate principal and
A GnmA pass-through certificate backed by fixed rate mortgages with a 15 year maturity.
See: Government securities.
A wholly owned U.S. government corporation
Negotiable U.S. Treasury securities.
Privately owned, publicly chartered entities, such as the Student Loan
Situation in which a large block of stock is held by an unfriendly company, forcing the target
A debt or equity security for which there is no posted price or bidand-
Claims that cannot be easily bought and sold in the financial markets, such as those of
Related: swap sale.
If the average maturity of a bank's liabilities is less than that of its assets, it is said to be
Agency cost view
The argument that specifies that the various agency costs create a complex environment in
Mortgage pass-through securities whose principal and interest payments are
the systematic assignment of an amount to a recipient
Assuris is a not for profit organization that protects Canadian policyholders in the event that their life insurance company should become insolvent. Their role is to protect policyholders by minimizing loss of benefits and ensuring a quick transfer of their policies to a solvent company where their benefits will continue to be honoured. Assuris is funded by the life insurance industry and endorsed by government. If you are a Canadian citizen or resident, and you purchased a product from a member life insurance company in Canada, you are protected by Assuris.
a streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires
The multiplier associated with a change in government spending financed by an equal change in taxes.
Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees
A committee formed in response to SEC chairman Arthur Levitt's initiative to improve the financial
Bonds are debt and are issued for a period of more than one year. The U.S. government, local
A debt security issued by a government or company. You receive regular interest payments at specified rates while you hold the bond and you receive the face value when it matures. Short-term bonds mature in less than five years; medium-term bonds mature in six to ten years; and long-term bonds mature in eleven years or greater.
Fixed interest security issued by a corporation or government, having a specific maturity date.
A system that monitors and evaluates the performance of a fixed-income portfolio , as well as the
The amount by which government spending exceeds government revenues.
The excess of government spending over tax receipts.
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.
An economic system in which the marketplace, through the pricing mechanism, determines the allocation and distribution of scarce goods and services, with a minimum of government involvement.
The value of assets that can be converted into cash immediately, as reported by a company. Usually
Cash and equivalents
The value of assets that can be converted into cash immediately, as reported by a
A flexible exchange rate system in which the government does not intervene.
An understanding between a company and the host government that specifies the
A party shipping goods to a consignee. The consignee then makes an effort to sell
Also called private-label pass-throughs, any mortgage pass-through security not
The degree of freedom to exchange a currency without government restrictions or controls.
a discipline that focuses on techniques or
the assignment, using some reasonable basis,
a company-wide attitude about the topics
cost leadership strategy
a plan to achieve the position in a
cost of production report
a process costing document that
Davis-Bacon Act of 1931
A federal Act providing wage protection to nongovernment
Over-the-counter options, such as those offered by government and mortgage-backed
An asset requiring fixed dollar payments, such as a government or corporate bond.
A security representing a debt relationship with an enterprise, including a government
Central bank switching of government deposits between the central bank and commercial banks.
Fall in the government-determined fixed exchange rate.
A system of floating exchange rates in which the government occasionally intervenes to change
A flexible exchange rate system in which the government intervenes.
Facility provided by the Fed enabling member banks to borrow reserves against collateral
Economic environment in which the firm expects to reside over the life of the
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
enterprise resource planning (ERP) system
a packaged software program that allows a company to
Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and
European Union (EU)
an economic alliance originally created
The risk that the ability of an issuer to make interest and principal payments will change because
Governmental restrictions on the purchase of foreign currencies by domestic citizens or
Instruments exempt from the registration requirements of the Securities Act of 1933 or the
Export-Import Bank (Ex-Im Bank)
The U.S. federal government agency that extends trade credits to U.S.
The official seizure by a government of private property. Any government has the right to
A transaction that rarely occurs, and which is unusual, such as
Federal agency securities
Securities issued by corporations and agencies created by the U.S. government,
Federal credit agencies
Agencies of the federal government set up to supply credit to various classes of
Federal Employer Identification Number
A unique identification number issued
Federal Insurance Contributions Act of 1935 (FICA)
A federal Act authorizing the government to collect Social Security and Medicare payroll taxes.
Federally related institutions
Arms of the federal government that are exempt from SEC registration and
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.
FIFO method (of process costing)
the method of cost assignment that computes an average cost per equivalent
Economic assistance provided by unrelated third parties, typically government agencies. They may take the form of loans, loan guarantees, subsidies, tax allowances, contributions, or cost-sharing arrangements.
The use of government spending and taxing for the specific purpose of stabilizing the economy.
A change in government spending or taxing, designed to influence economic activity.
A nonnegotiable debt security that can be redeemed at some fixed price or according to
Fixed Exchange Rate
An exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market.
Flight to quality
The tendency of investors to move towards safer, government bonds during periods of high
Charge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets.
Government bonds that are acceptable at par in payment of federal estate taxes when owned by
Foreign bond market
That portion of the domestic bond market that represents issues floated by foreign
Foreign exchange controls
Various forms of controls imposed by a government on the purchase/sale of
A form used by businesses to report to the government payments
The form used by employers to report tip income by their employees
A shortened version of the Form 940.
An exchange rate system characterized by the absence of government intervention. Also known as
The absence of any government restrictions, such as tariffs or quotas, on imports or exports.
Fully modified pass-throughs
Agency pass-throughs that guarantee the timely payment of both interest and
British and Irish government securities.
See:Government National Mortgage Association.
Tendency toward a worldwide investment environment, and the integration of national capital
Compound annual growth rate for the number of full fiscal years shown. If there is a negative
Mutual funds that seek regular income. This type of fund invests primarily in government, corporate and other types of bonds, debt securities, and other income producing securities and in certain circumstances can also hold common and preferred shares.
A government tax on the income earned by an individual or corporation.
This is a provincial government licensed independent businessperson who usually represents five or more life insurance companies in a sales and service capacity and who is paid a commission by those life insurance companies for sales and service of life insurance products. We for example, have been in business for 12 years and regularly place new business with over twenty different life insurance companies.
Industrial revenue bond (IRB)
Bond issued by local government agencies on behalf of corporations.
Institutionally Induced Unemployment
Unemployment due to institutional phenomena such as the degree of labor force unionization, the level of discrimination, and government policies such as unemployment insurance programs, minimum wages, or regulations on business.
Insured Retirement Plan
This is a recently coined phrase describing the concept of using Universal Life Insurance to tax shelter earnings which can be used to generate tax-free income in retirement. The concept has been described by some as "the most effective tax-neutralization strategy that exists in Canada today."
Intermarket spread swaps
An exchange of one bond for another based on the manager's projection of a
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