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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 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.
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
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
Bond or note secured by assets of company.
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
Automatic payment of moneys derived from a benefit.
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.
A statistical compilation formulated by a sovereign nation of all economic transactions
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.
Any large principal payment due at maturity for a bond or loan with or without a a sinking
A bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque.
Any market in which prices are in a declining trend.
A market in which stock or bond prices are generally
A prolonged period of falling stock market prices.
Bill and Hold Practices
Products that have been sold with an explicit agreement that delivery
An illegal market.
Amounts owed by the company that have been formalized by a legal document called a bond.
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.
A market in which stock or bond prices are generally rising.
A prolonged period of rising stock market prices.
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
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.
The market for trading long-term debt instruments (those that mature in more than one year).
The market in which investors buy and sell shares of companies, normally associated with a Stock Exchange.
A market that specializes in trading long-term, relatively high risk
The market in which savings are made available to those needing funds to undertake investment projects. A financial market in which longer-term (maturity greater than one year) bonds and stocks are traded.
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.
markets for long-term financing.
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.
the approach to product costing that determines
Coupon / Coupons
The periodic interest payment(s) made by the issuer of a bond
A bond's interest payments.
One corporation holds shares in another firm.
Current time to maturity on an outstanding debt instrument.
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
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
DLOM (discount for lack of marketability)
an amount or percentage deducted from an equity interest to reflect lack of marketability.
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 capital markets
Financial markets in which security prices rapidly reflect all relevant information about asset values.
Efficient Market Hypothesis
In general the hypothesis states that all relevant information is fully and
Efficient Markets Hypothesis
The hypothesis that securities are typically in equilibrium--that they are fairly priced in the sense that the price reflects all publicly available information on the security.
In the interbank Eurodollar deposit market, an either-way market is one in which the bid
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
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
Fair market value
The price that an asset or service will fetch on the open market.
Fair Market Value
The highest price available, expressed in terms of cash, in an open and unrestricted market between informed, prudent parties acting at arm's length and under no compulsion to transact.
Farm Improvement and Marketing Cooperatives Loans Act
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
Federal Open Market Committee (FOMC)
Fed committee that makes decisions about open-market operations.
Federally related institutions
Arms of the federal government that are exempt from SEC registration and
A charge for services.
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