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Definition of Rules-versus-Discretion Debate
Argument about whether policy authorities should be allowed to undertake discretionary policy action as they see fit or should be replaced by robots programmed to set policy by following specific formulas. See discretionary policy, policy rule.
IRS rules used to allocate income on export sales to a foreign sales corporation.
A transaction in which the buyer's payment for securities is due at the time of
Accounts over which an individual or organization, other than the person in whose
Cash flow that is available after the funding of all positive NPV capital investment
SEC-imposed restrictions on when a short sale may be executed, intended to prevent investors
a cost that is periodically reviewed by a
A policy that is a conscious, considered response to each situation as it arises. Contrast with policy rule.
Legislation under which interest, dividends, or capital gains earned on assets you transfer to your spouse will be treated as your own for tax purposes. Interest or dividends relating to property transferred to children under 18 also will be attributed back to you. The exception to this rule is that capital gains relating to property transferred to children under 18 will not be attributed back to you.
An alternative model to the capital asset pricing model developed by
Yield curve option-pricing models.
A model for determining the required rate of return on an asset.
A model, such as the Capital Asset pricing Model (CAPM), that determines the required
A statistical compilation formulated by a sovereign nation of all economic transactions
An option pricing model in which the underlying asset can take on only two
A model for pricing call options based on arbitrage arguments that uses
Break-even lease payment
The lease payment at which a party to a prospective lease is indifferent between
Break-even payment rate
The prepayment rate of a MBS coupon that will produce the same CFY as that of
Capital asset pricing model (CAPM)
An economic theory that describes the relationship between risk and
The provision of some futures contracts that requires not delivery of underlying assets but
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A bond's interest payments.
Date of payment
Date dividend checks are mailed.
The tender and receipt of an actual commodity or financial instrument in settlement of a futures contract.
The written notice given by the seller of his intention to make delivery against an open, short
The options available to the seller of an interest rate futures contract, including the quality
Those points designated by futures exchanges at which the financial instrument or
The price fixed by the Clearing house at which deliveries on futures are in invoiced; also the
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
A transaction in which the settlement will occur on a specified date in the future at a price
Garmen-Kohlhagen option pricing model
A widely used model for pricing foreign currency options.
A delivery in which everything - endorsement, any necessary attached legal papers, etc. - is in
Good delivery and settlement procedures
Refers to PSA Uniform Practices such as cutoff times on delivery
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Contractual debt payments based on the coupon rate of interest and the principal amount.
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
Refers to the seller's actually turning over to the buyer the asset agreed upon in a forward contract.
Overnight delivery risk
A risk brought about because differences in time zones between settlement centers
The date on which each shareholder of record will be sent a check for the declared dividend.
Company-written checks that have not yet cleared.
Reducing fund transfers between affiliates to only a netted amount. Netting can be done on
escribes the lagged collection pattern of receivables, for instance the probability that a
bond A bond that gives the issuer an option (during an initial period) either to make
Also called speed, the estimated rate at which mortgagors pay off their loans ahead of
payments made in excess of scheduled mortgage principal repayments.
Also called external efficiency, a market characteristic where prices at all times fully
Production payment financing
A method of nonrecourse asset-based financing in which a specified
Regulatory pricing risk
Risk that arises when regulators restrict the premium rates that insurance companies
A bond that will make only one payment of principal and interest.
Refers to the buyer's actually assuming possession from the seller of the asset agreed upon
Two-state option pricing model
An option pricing model in which the underlying asset can take on only two
Issue of securities below their market value.
Yield curve option-pricing models
Models that can incorporate different volatility assumptions along the
assumption The assumption of payment of scheduled principal and interest with no payments.
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
A method of pricing in which a mark-up is added to the total product/service cost.
A payment made in advance of when it is treated as an expense for profit purposes.
Target rate of return pricing
A method of pricing that estimates the desired return on investment to be achieved from the
The date established for the payment of a declared dividend.
Capital Asset Pricing Model (CAPM)
A model for estimating equilibrium rates of return and values of
an organizational unit that performs management activities benefiting the entire organization;
dual pricing arrangement
a transfer pricing system that allows
capital asset pricing model (CAPM)
Theory of the relationship between risk and return which states that the expected risk
Checks written by a company that have not yet cleared.
Issuing securities at an offering price set below the true value of the security.
Balance of Payments
The difference between the demand for and supply of a country's currency on the foreign exchange market.
Balance of Payments Accounts
A statement of a country's transactions with other countries.
A grant or gift that is not payment for services rendered.
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
A companyâ€™s stated goal for how soon a customer order will be
A delivery of stock to a location in or near the shop floor
The practice of ordering large quantities on a single purchase order,
The consideration paid by the lessee to the lessor in exchange for the use of the leased equipment/property. payments are usually made at fixed intervals.
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
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.
InteracÂ® Direct Payment
Instead of paying with cash or a credit card, Interac Direct payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
A system where funds are electronically debited from your account on a specified date by a financial institution (e.g., bill, mortgage or personal loan payments) or perhaps an insurance or an utility company.
A service which enables you to request a 'stop' on any cheque or other pre-authorized payment, as long as the funds have not yet been disbursed. For example, you might request a stop payment on a post-dated cheque if you no longer need the product or service for which that cheque was initially written.
Automatic Benefits Payment
Automatic payment of moneys derived from a benefit.
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