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Definition of Safekeep
For a fee, bankers will hold in their vault, clip coupons on, and present for payment at maturity
charged by an institution that holds securities in safekeeping for an investor.
The portion of total fees in a syndicated credit that go to the participating banks.
The percent of a mutual fund's assets used to defray marketing and distribution expenses. The
fees paid when for example a financial instrument such as a loan is arranged.
an amount or percentage deducted from an equity interest to reflect lack of marketability.
Same as PV, but usually includes a subtraction for an initial cash outlay.
the value in today’s dollars of cash flows that occur in different time periods.
model for calculating DLOM for minority interests r the discount rate
The net present value analysis of an asset if financed solely by equity
Variations of mortgage instruments such as adjustable-rate and variablerate
The annual rate of return that when compounded t times, would have
An option is at-the-money if the strike price of the option is equal to the market price of the
markets in which the prevailing price is determined through the free interaction of
The average time to maturity of securities held by a mutual fund. Changes in interest rates
The fee paid on the extension date if the buyer wishes to continue the option.
Balance of payments
A statistical compilation formulated by a sovereign nation of all economic transactions
Any large principal payment due at maturity for a bond or loan with or without a a sinking
Any market in which prices are in a declining trend.
An illegal market.
The Treasury and federal agencies are moving to a book-entry system in which securities are not represented by engraved pieces of paper but are maintained in computerized records at the
bonds issued by emerging countries under a debt reduction plan.
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
A market where an intermediary offers search services to buyers and sellers.
Any market in which prices are in an upward trend.
The foreign market in the United Kingdom.
A passive investment strategy with no active buying and selling of stocks from the
Call money rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance
The market for trading long-term debt instruments (those that mature in more than one year).
Capital market efficiency
Reflects the relative amount of wealth wasted in making transactions. An efficient
Capital market imperfections view
The view that issuing debt is generally valuable but that the firm's
Capital market line (CML)
The line defined by every combination of the risk-free asset and the market portfolio.
Also called spot markets, these are markets that involve the immediate delivery of a security
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
Collateral trust bonds
A bond in which the issuer (often a holding company) grants investors a lien on
A fee paid to a commercial bank in return for its legal commitment to lend funds that have
Committee, AIMR Performance Presentation Standards Implementation Committee
The Association for Investment Management and Research (AIMR)'s Performance presentation Standards Implementation
An agreement between two or more countries that permits the free movement of capital
Common stock market
The market for trading equities, not including preferred stock.
Complete capital market
A market in which there is a distinct marketable security for each and every
Conflict between bondholders and stockholders
These two groups may have interests in a corporation that
bonds that can be converted into common stock at the option of the holder.
Corner A Market
To purchase enough of the available supply of a commodity or stock in order to
Debt obligations issued by corporations.
A bond's interest payments.
One corporation holds shares in another firm.
Current time to maturity on an outstanding debt instrument.
High-coupon bonds that sell at only at a moderate premium because they are callable at a
Date of payment
Date dividend checks are mailed.
A market where traders specializing in particular commodities buy and sell assets for their
The market for trading debt instruments.
IOUs created through loan-type transactions - commercial paper, bank CDs, bills, bonds, and
Delivery versus payment
A transaction in which the buyer's payment for securities is due at the time of
Contracts such as options and futures whose price is derived from the price of the
markets for derivative instruments.
Direct search market
Buyers and sellers seek each other directly and transact directly.
Non-interest-bearing money market instruments that are issued at a discount and
Municipal revenue bonds for which quotes are given in dollar prices. Not to be confused with
Part of a nation's internal market representing the mechanisms for issuing and trading
Efficient capital market
A market in which new information is very quickly reflected accurately in share
Efficient Market Hypothesis
In general the hypothesis states that all relevant information is fully and
In the interbank Eurodollar deposit market, an either-way market is one in which the bid
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
The financial markets of developing economies.
Equilibrium market price of risk
The slope of the capital market line (CML). Since the CML represents the
Those holding shares of the firm's equity.
The money market for borrowing and lending currencies that are held in the form of
Eurobonds denominated in U.S.dollars.
Eurobonds denominated in Japanese yen.
Excess return on the market portfolio
The difference between the return on the market portfolio and the
instruments exempt from the registration requirements of the securities Act of 1933 or the
Also referred to as the international market, the offshore market, or, more popularly, the
Fair market price
Amount at which an asset would change hands between two parties, both having
Federal agency securities
securities issued by corporations and agencies created by the U.S. government,
Federal funds market
The market where banks can borrow or lend reserves, allowing banks temporarily
Federally related institutions
Arms of the federal government that are exempt from SEC registration and
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
An organized institutional structure or mechanism for creating and exchanging financial assets.
Assets that pay a fixed-dollar amount, such as bonds and preferred stock.
The market for trading bonds and preferred stock.
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
Foreign bond market
That portion of the domestic bond market that represents issues floated by foreign
Foreign equity market
That portion of the domestic equity market that represents issues floated by foreign companies.
Part of a nation's internal market, representing the mechanisms for issuing and trading
Foreign market beta
A measure of foreign market risk that is derived from the capital asset pricing model.
A market in which participants agree to trade some commodity, security, or foreign
Direct trading in exchange-listed securities between investors without the use of a broker.
The fee initially paid by the buyer upon entering a split-fee option contract.
A market in which contracts for future delivery of a commodity or a security are bought or sold.
General obligation bonds
Municipal securities secured by the issuer's pledge of its full faith, credit, and
bonds that are designed so as to qualify for immediate trading in any domestic capital market
Excess of the purchase price over the fair market value of the net assets acquired under purchase
Negotiable U.S. Treasury securities.
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Purchases and sales of eurobonds that occur before the issue price is finally set.
The date on which holders of record in a firm's stock ledger are designated as the
A corporation that owns enough voting stock in another firm to control management and
Length of time that an individual holds a security.
Holding period return
The rate of return over a given period.
money that moves across country borders in response to interest rate differences and that moves
Index and Option Market (IOM)
A division of the CME established in 1982 for trading stock index
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