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Financial Terms | |
NM |
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Definition of NMNMAbbreviation for Not Meaningful.
Related Terms:Abandonment optionThe option of terminating an investment earlier than originally planned. AssignmentThe receipt of an exercise notice by an options writer that requires the writer to sell (in the case AssignmentThis 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 ConsignmentA shipment of goods to a party who agrees to try to sell them to third parties. A cost containmentthe practice of minimizing, to the extent environmental constraintany limitation on strategy options GNMA-IMortgage-backed securities (MBS) on which registered holders receive separate principal and ![]() GNMA-IIMortgage-backed securities (MBS) on which registered holders receive an aggregate principal and GNMA MidgetA GnmA pass-through certificate backed by fixed rate mortgages with a 15 year maturity. Government bondSee: Government securities. Government National Mortgage Association (Ginnie Mae)A wholly owned U.S. government corporation Government securitiesNegotiable U.S. Treasury securities. Government sponsored enterprisesPrivately owned, publicly chartered entities, such as the Student Loan GreenmailSituation in which a large block of stock is held by an unfriendly company, forcing the target Nonmarketable SecurityA debt or equity security for which there is no posted price or bidand- Nonmarketed claimsClaims that cannot be easily bought and sold in the financial markets, such as those of ![]() Swap assignmentRelated: swap sale. Unmatched bookIf the average maturity of a bank's liabilities is less than that of its assets, it is said to be Agency cost viewThe argument that specifies that the various agency costs create a complex environment in Agency pass-throughsMortgage pass-through securities whose principal and interest payments are allocationthe systematic assignment of an amount to a recipient AssurisAssuris 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. backflush costinga streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires Balanced-Budget MultiplierThe 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 CommitteesA committee formed in response to SEC chairman Arthur Levitt's initiative to improve the financial BondBonds are debt and are issued for a period of more than one year. The U.S. government, local bondA 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. BondFixed interest security issued by a corporation or government, having a specific maturity date. BONDPARA system that monitors and evaluates the performance of a fixed-income portfolio , as well as the Budget deficitThe amount by which government spending exceeds government revenues. Budget DeficitThe excess of government spending over tax receipts. Canada Savings BondsA bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value. CapitalismAn 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. CashThe value of assets that can be converted into cash immediately, as reported by a company. Usually Cash and equivalentsThe value of assets that can be converted into cash immediately, as reported by a Clean FloatA flexible exchange rate system in which the government does not intervene. Concession agreementAn understanding between a company and the host government that specifies the ConsignorA party shipping goods to a consignee. The consignee then makes an effort to sell Conventional pass-throughsAlso called private-label pass-throughs, any mortgage pass-through security not ConvertibilityThe degree of freedom to exchange a currency without government restrictions or controls. cost accountinga discipline that focuses on techniques or cost allocationthe assignment, using some reasonable basis, cost consciousnessa company-wide attitude about the topics cost leadership strategya plan to achieve the position in a cost of production reporta process costing document that Davis-Bacon Act of 1931A federal Act providing wage protection to nongovernment Dealer optionsOver-the-counter options, such as those offered by government and mortgage-backed Debt instrumentAn asset requiring fixed dollar payments, such as a government or corporate bond. Debt SecurityA security representing a debt relationship with an enterprise, including a government Deposit SwitchingCentral bank switching of government deposits between the central bank and commercial banks. DevaluationFall in the government-determined fixed exchange rate. Dirty floatA system of floating exchange rates in which the government occasionally intervenes to change Dirty FloatA flexible exchange rate system in which the government intervenes. Discount windowFacility provided by the Fed enabling member banks to borrow reserves against collateral Economic assumptionsEconomic 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) systema packaged software program that allows a company to EurocreditsIntermediate-term loans of Eurocurrencies made by banking syndicates to corporate and European Union (EU)an economic alliance originally created Event riskThe risk that the ability of an issuer to make interest and principal payments will change because Exchange controlsGovernmental restrictions on the purchase of foreign currencies by domestic citizens or Exempt securitiesInstruments 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. ExpropriationThe official seizure by a government of private property. Any government has the right to Extraordinary itemA transaction that rarely occurs, and which is unusual, such as Federal agency securitiesSecurities issued by corporations and agencies created by the U.S. government, Federal credit agenciesAgencies of the federal government set up to supply credit to various classes of Federal Employer Identification NumberA 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 institutionsArms of the federal government that are exempt from SEC registration and Fiat MoneyFiat 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 Financial AssistanceEconomic 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. Fiscal policyThe use of government spending and taxing for the specific purpose of stabilizing the economy. Fiscal PolicyA change in government spending or taxing, designed to influence economic activity. Fixed-dollar securityA nonnegotiable debt security that can be redeemed at some fixed price or according to Fixed Exchange RateAn exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market. Flight to qualityThe tendency of investors to move towards safer, government bonds during periods of high Floating ChargeCharge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets. Flower bondGovernment bonds that are acceptable at par in payment of federal estate taxes when owned by Foreign bond marketThat portion of the domestic bond market that represents issues floated by foreign Foreign exchange controlsVarious forms of controls imposed by a government on the purchase/sale of Form 1099A form used by businesses to report to the government payments Form 8027The form used by employers to report tip income by their employees Form 940-EZA shortened version of the Form 940. Free floatAn exchange rate system characterized by the absence of government intervention. Also known as Free TradeThe absence of any government restrictions, such as tariffs or quotas, on imports or exports. Fully modified pass-throughsAgency pass-throughs that guarantee the timely payment of both interest and GiltsBritish and Irish government securities. Ginnie MaeSee:Government National Mortgage Association. GlobalizationTendency toward a worldwide investment environment, and the integration of national capital Growth ratesCompound annual growth rate for the number of full fiscal years shown. If there is a negative income fundsMutual 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. Income taxA government tax on the income earned by an individual or corporation. Independent BrokerThis 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 UnemploymentUnemployment 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 PlanThis 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 swapsAn exchange of one bond for another based on the manager's projection of a Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |