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Definition of Synchronous data
data available at the same time. In testing option-pricing models, the price of the option
The exchange of information electronically, directly from one firm's
bits of knowledge or facts that have not been summarized
a form of analysis in which statistical techniques
the computer-to-computer transfer of information in virtual real time using standardized formats developed by the American National Standards Institute
the use of all techniques that help an organization achieve its goals
The requirement that a claim holder voting against a plan of reorganization
A method of analysis in which a firm is compared to others that have a desired
Credit granted by a firm to consumers for the purchase of goods or services. Also called
A signal that provides accurate information; a signal that can be distinguish among senders.
The process of analyzing information on companies and bond issues in order to estimate the
Purchase of the financial guarantee of a large insurance company to raise funds.
The length of time for which the customer is granted credit.
The risk that an issuer of debt securities or a borrower may default on his obligations, or that the
A statistical technique wherein several financial characteristics are combined to form a single
The interest rate offered on an investment type insurance policy.
Lender of money.
Total par value (number of shares issued, multiplied by the par value of each share). Also
Refers to multi-period cash flow matching.
Dedicating a portfolio
Related: cash flow matching.
Demand line of credit
A bank line of credit that enables a customer to borrow on a daily or on-demand basis.
Withdrawal of funds from a financial institution in order to invest them directly.
Electronic depository transfers
The transfer of funds between bank accounts through the Automated
Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and
Euro-medium term note (Euro-MTN)
A non-underwritten Euronote issued directly to the market. Euro-
Revolving credit without maturity.
Federal credit agencies
Agencies of the federal government set up to supply credit to various classes of
Institutions that provide the market function of matching borrowers and lenders or
Five Cs of credit
Five characteristics that are used to form a judgement about a customer's creditworthiness:
Foreign tax credit
Home country credit against domestic income tax for foreign taxes paid on foreign
Full faith-and-credit obligations
The security pledges for larger municipal bond issuers, such as states and
Delivery and settlement of securities within five business days.
Typically 1-10 years.
Investment through a financial institution. Related: disintermediation.
Investment tax credit
Proportion of new capital investment that can be used to reduce a company's tax bill
Letter of credit (L/C)
A form of guarantee of payment issued by a bank used to guarantee the payment of
Line of credit
An informal arrangement between a bank and a customer establishing a maximum loan
Line of credit
An informal arrangement between a bank and a customer establishing a maximum loan
A corporate debt instrument that is continuously offered to investors over a period of
Preauthorized electronic debits (PADs)
Debits to its bank account in advance by the payer. The payer's
Credit granted by a firm to consumers for the purchase of goods or services.
Revolving credit agreement
A legal commitment wherein a bank promises to lend a customer up to a
Revolving line of credit
A bank line of credit on which the customer pays a commitment fee and can take
Credit granted by a firm to another firm for the purchase of goods or services.
A theory that spot prices at some future date will be equal to today's forward rates.
Buying or selling goods or services now with the intention of payment following at some time in
Purchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a
One side of a journal entry, usually depicted as the right side.
e-commerce (electronic commerce)
any business activity that uses the Internet and World Wide Web to engage in financial transactions
an activity measure that, when changed, is accompanied
Procedure to determine the likelihood a customer will pay its bills.
Standards set to determine the amount and nature of credit to extend to customers.
Firm that raises money from many small investors and provides financing to businesses or other
line of credit
Agreement by a bank that a company may borrow at any time up to an established limit.
A decline in the ability or willingness of banks to lend.
Restriction of loans by lenders so that not all borrowers willing to pay the current interest rate are able to obtain loans.
Any institution, such as a bank, that takes deposits from savers and loans them to borrowers.
The process whereby financial intermediaries channel funds from lender/savers to borrower/spenders.
A good used in producing another good.
Investment Tax Credit
A reduction in taxes offered to firms to induce them to increase investment spending.
Medium of Exchange
Any item that can be commonly exchanged for goods and services.
Consumer Credit Protection Act
A federal Act specifying the proportion of
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Family and Medical Leave Act
A federal Act containing the rules for offering
To artificially accelerate an order ahead of its regularly scheduled
Creditor Proof Protection
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
Medical Information Bureau
This organization was established in 1902. The Medical Information Bureau (M.I.B.) is a non-profit association of life insurance companies. Its purpose is to detect and deter fraud by providing warnings called, alerts, to member companies. For example, if an insurance applicant advised one insurance company of a heart attack and then applied to another insurance company omitting this history, codes, reported by the first insurance company, indicating a heart attack would alert the second insurance company to the undisclosed history. It is a rarity, however, that the alert is the only notice of a specific medical impairement as most applicants completely disclose their history.
This is the maximum value of a policy that an insurance company will issue without the applicant taking a medical examination, although medical questions are invariably asked during the application process. When a non-medical issue is made through group insurance, in most cases, medical data is not requested at all.
A rating of a company's credit (ability to payback debt), usually by a third party credit agency.
A loan receivable that has proven uncollectible and is written off.
Financial and moral risk that an obligation will not be paid and a loss will result.
Conditions under which credit is extended by a lender to a borrower.
Credit unions are community based financial co-operatives and most offer a full range of services. All are owned and controlled by members who are also shareholders. Credit unions are regulated provincially and insured by a stabilization fund, deposit insurance or guarantee corporation.
Person or business that is owed money.
Export Credit Insurance
The granting of insurance to cover the commercial and political risks of selling in foreign markets.
Formalized Line of Credit
A contractual commitment to make loans to a particular borrower up to a specified maximum during a specified period, usually one year.
Full Credit Period
The period of trade credit given by a supplier to its customer.
An independent third party that may act as a mediator during negotiations.
Letters of Credit
A letter of credit is a guarantee of payment by a bank (issuing institution)to a third party for a specific amount of money, if certain conditions are met.
Line of Credit
An agreement negotiated between a borrower and a lender which establishes the maximum amount against which a borrower may draw. The agreement also sets out other conditions, such as how and when money borrowed against the line of credit is to be repaid.
Operating Line of Credit
A bank's commitment to make loans to a particular borrower up to a specified maximum for a specified period, usually one year.
Line of Credit against which funds may be borrowed at any time, with regular scheduled repayments of a predetermined minimum amount.
Period of delay allowed by a firm's supplier to pay its invoices. Frequently, the terms are : 2% discount on invoice if paid in 10 days or net if paid in 30 days.
On your bank statement, 'credit' represents funds that you have deposited into your account. The opposite of a credit is a debit.
An organization that provides financial institutions with credit information concerning existing or potential customers who are looking to obtain credit services.
A revolving source of credit with a pre-established limit. You have to pay interest on a credit card if you have an outstanding balance.
A record of the funds which have been credited to your account.
EFT (electronic funds transfer)
Funds which are electronically credited to your account (e.g. direct deposit), or electronically debited from your account on an ongoing basis (e.g. a pre-authorized monthly bill payment, or a monthly loan or mortgage payment). A wire transfer is a form of EFT.
line of credit
A revolving source of credit with a pre-established limit. You access the funds only as you need them, and any amount that you pay back becomes accessible to you again. Unlike a personal loan, a line of credit permits you to write cheques and make bank machine withdrawals, and requires you to pay interest only on the funds that you actually use.
personal line of credit (PLC)
A revolving source of credit with a pre-established limit. You access the funds only as you need them, and any amount that you pay back becomes accessible to you again. Unlike a personal loan, a PLC permits you to write cheques and make bank machine withdrawals, and requires you to pay interest only on the funds that you actually use.
secured loan or line of credit
A lump sum of funds (loan), or a revolving source of credit with a pre-established limit (line of credit), for which the customer must provide collateral.
Accidental Dismemberment: (Credit Insurance)
Provides additional financial security should an insured person be dismembered or lose the use of a limb as the result of an accident.
Amortization (Credit Insurance)
Refers to the reduction of debt by regular payments of interest and principal in order to pay off a loan by maturity.
Beneficiary (Credit Insurance)
The person or party designated to receive proceeds entitled by a benefit. Payment of a benefit is triggered by an event. In the case of credit insurance, the beneficiary will always be the creditor.
Borrower (Credit Insurance)
A consumer who borrows money from a lender.
Commercial Business Loan (Credit Insurance)
An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes.
Creditor (Credit Insurance)
A lender or lending institution that offers financing and loans to a borrower, for the purpose of acquiring a commodity.
Critical Illness Insurance (Credit Insurance)
Coverage that provides a lump-sum payment should you become seriously ill with a specified illness. The payment is made to your creditors to pay off your debt owing.
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.
Disability Insurance (Credit Insurance)
Group Insurance designed to cover monthly obligations due to a borrower being unable to work due to sickness or injury.
Insurance Policy (Credit Insurance)
A policy under which the insurance company promises to pay a benefit of the person who is insured.
Job Loss Insurance (Credit Insurance)
Coverage that can pay down your debt should you become involuntarily unemployed. The payment is made to your creditors to reduce your debt owing.
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