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Financial Terms | |
Publicly Held National Debt |
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Definition of Publicly Held National DebtPublicly Held National DebtSee national debt.
Related Terms:Allowance for bad debtsAn offset to the accounts receivable balance, against which Bad debtAn account receivable that cannot be collected. Bad debtsThe amount of accounts receivable that is not expected to be collected. bad debtsRefers to accounts receivable from credit sales to customers Bank for International Settlements (BIS)An international bank headquartered in Basel, Switzerland, which Cost of DebtThe cost of debt (bonds, loans, etc.) that a company is charged for DebtMoney borrowed. ![]() DebtBorrowings from financiers. DebtFunds owed to another entity. Debt capacityAbility to borrow. The amount a firm can borrow up to the point where the firm value no Debt CapacityAn assessment of ability and willingness to repay a loan from anticipated future cash flow or other sources. Debt (Credit Insurance)Money, goods or services that someone is obligated to pay someone else in accordance with an expressed or implied agreement. debt may or may not be secured. Debt displacementThe amount of borrowing that leasing displaces. Firms that do a lot of leasing will be Debt/equity ratioIndicator of financial leverage. Compares assets provided by creditors to assets provided Debt/Equity RatioA comparison of debt to equity in a company's capital structure. Debt FinancingRaising loan capital through the creation of debt by issuing a form of paper evidencing amounts owed and payable on specified dates or on demand. ![]() Debt instrumentAn asset requiring fixed dollar payments, such as a government or corporate bond. Debt InstrumentAny financial asset corresponding to a debt, such as a bond or a treasury bill. Debt leverageThe amplification of the return earned on equity when an investment or firm is financed Debt limitationA bond covenant that restricts in some way the firm's ability to incur additional indebtedness. Debt marketThe market for trading debt instruments. Debt ratioTotal debt divided by total assets. Debt RatioThe percentage of debt that is used in the total capitalization of a Debt reliefReducing the principal and/or interest payments on LDC loans. Debt securitiesIOUs created through loan-type transactions - commercial paper, bank CDs, bills, bonds, and Debt SecurityA security representing a debt relationship with an enterprise, including a government Debt serviceInterest payment plus repayments of principal to creditors, that is, retirement of debt. ![]() Debt-service coverage ratioEarnings before interest and income taxes plus one-third rental charges, divided Debt service parity approachAn analysis wherein the alternatives under consideration will provide the firm Debt swapA set of transactions (also called a debt-equity swap) in which a firm buys a country's dollar bank debt-to-equity ratioA widely used financial statement ratio to assess the Debtor in possessionA firm that is continuing to operate under Chapter 11 bankruptcy process. Debtor-in-possession financingNew debt obtained by a firm during the Chapter 11 bankruptcy process. DebtorsSales to customers who have bought goods or services on credit but who have not yet paid their debt. Domestic International Sales Corporation (DISC)A U.S. corporation that receives a tax incentive for Firm's net value of debtTotal firm value minus total firm debt. Funded debtdebt maturing after more than one year. funded debtdebt with more than 1 year remaining to maturity. Government National Mortgage Association (Ginnie Mae)A wholly owned U.S. government corporation Gross National ProductTotal output of final goods and services produced by a country's citizens during a year. Gross national product (GNP)Measures and economy's total income. It is equal to GDP plus the income Held-to-Maturity SecurityA debt security for which the investing entity has both the positive Interest rate on debtThe firm's cost of debt capital. International Bank for Reconstruction and Development - IBRD or World BankInternational 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 International bondsA 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 International diversificationThe attempt to reduce risk by investing in the more than one nation. By International finance subsidiaryA subsidiary incorporated in the U.S., usually in Delaware, whose sole International Fisher effectStates that the interest rate differential between two countries should be an international Fisher effectTheory that real interest rates in all countries should be equal, with differences in nominal rates reflecting differences in expected inflation. International fundA mutual fund that can invest only outside the United States. international fundA mutual fund that can invest in securities issued anywhere outside of Canada. International marketRelated: See external market. International Monetary FundAn organization founded in 1944 to oversee exchange arrangements of International Monetary Fund (IMF)Organization originally established to manage the postwar fixed exchange rate system. International Monetary Market (IMM)A division of the CME established in 1972 for trading financial International ReservesSee foreign exchange reserves. Junior debt (subordinate debt)debt whose holders have a claim on the firm's assets only after senior London International Financial Futures Exchange (LIFFE)A London exchange where Eurodollar futures London International Financial Futures Exchange (LIFFE)London exchange where Eurodollar futures as well as futures-style options are traded. Long-term debtAn obligation having a maturity of more than one year from the date it was issued. Also Long-term debtA debt for which payments will be required for a period of more than Long Term DebtLiability due in a year or more. Long-term debt/capitalizationIndicator of financial leverage. Shows long-term debt as a proportion of the Long-term debt ratioThe ratio of long-term debt to total capitalization. Long-term debt to equity ratioA capitalization ratio comparing long-term debt to shareholders' equity. Management/closely held sharesPercentage of shares held by persons closely related to a company, as Mezzanine DebtRefers to non-conventional debt that has a greater element of risk than secured debt but has less risk than equity. MM's proposition I (debt irrelevance proposition)The value of a firm is unaffected by its capital structure. Monetizing the DebtSee printing money. Multinational corporationA firm that operates in more than one country. National DebtThe debt owed by the government as a result of earlier borrowing to finance budget deficits. That part of the debt not held by the central bank is the publically held national debt. National Futures Association (NFA)The futures industry self regulatory organization established in 1982. National IncomeGDP with some adjustments to remove items that do not make it into anyone's hands as income, such as indirect taxes and depreciation. Loosely speaking, it is interpreted as being equal to GDP. National Income and Product AccountsThe national accounting system that records economic activity such as GDP and related measures. National marketRelated: internal market National OutputGDP. National SavingPrivate saving plus public saving. That part of national income which is not spent on consumption goods or government spending. NationalizationA government takeover of a private company. Net National ProductGNP minus depreciation. Original issue discount debt (OID debt)debt that is initially offered at a price below par. Privately heldA company that is entirely owned by a small number of people; further, its shares are not publicly traded. Public DebtSee national debt. Publicly traded assetsAssets that can be traded in a public market, such as the stock market. RATIO OF DEBT TO STOCKHOLDERS’ EQUITYA ratio that shows which group—creditors or stockholders—has the biggest stake in or the most control of a company: Secured debtdebt that, in the event of default, has first claim on specified assets. secured debtdebt that has first claim on specified collateral in the event of default. Senior debtdebt that, in the event of bankruptcy, must be repaid before subordinated debt receives any payment. Senior DebtAre debt instruments that provide financing, take primary security against either specific or all assets of the borrower, have fixed terms of repayment and charge fixed or floating interest rates. SIMEX (Singapore International Monetary Exchange)A leading futures and options exchange in Singapore. Structured debtdebt that has been customized for the buyer, often by incorporating unusual options. Subordinated debtdebt over which senior debt takes priority. In the event of bankruptcy, subordinated subordinated debtdebt that may be repaid in bankruptcy only after senior debt is paid. Subordinated Debtdebt instruments that provide financing for acquisitions, expansion and restructuring, take secondary security against assets, have fixed or flexible terms of repayment and charge fixed or floating interest rates. Total debt to equity ratioA capitalization ratio comparing current liabilities plus long-term debt to Total Debt to Total Assets RatioSee debt ratio Trade debtAccounts payable. Unfunded debtdebt maturing within one year (short-term debt). See: funded debt. 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