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Definition of Wi
A computer message system linking major banks. It is used not for effecting payments, but as a
The combination of all of the individual opinions about a stock's or security's value.
Central bank switching of government deposits between the central bank and commercial banks.
Facility provided by the Fed enabling member banks to borrow reserves against collateral
The Federal Reserve facility at which reserves are loaned to banks at the discount rate.
A wire transfer system for high-value payments operated by the Federal Reserve System.
Mortgages in which annual increases in monthly payments are used to
Excess of the purchase price over the fair market value of the net assets acquired under purchase
The excess of the price paid to buy another company over the book value of
Intangible assets of a firm established by the excess of the price paid for the going concern over the value of its assets.
A constant stream of cash flows without end that is expected to rise indefinitely.
A bond covenant that restricts in some way a firm's ability to borrow at
This is a will which specifically expresses the testator's desire not to be kept alive on life support machines, should the occasion arise.
A strategy that seeks to combine assets a portfolio with returns that are less than
The graphical depiction of the Markowitz efficient set of portfolios
Markowitz efficient portfolio
Also called a mean-variance efficient portfolio, a portfolio that has the highest
Markowitz efficient set of portfolios
The collection of all efficient portfolios, graphically referred to as the
A model for selecting an optimum investment portfolio,
A term used to describe a situation in which a business combination
Negotiable order of withdrawal (NOW)
Demand deposits that pay interest.
In mutual funds, the ability to transfer shares between funds in the same family by
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
Special drawing rights (SDR)
A form of international reserve assets, created by the IMF in 1967, whose
Bank borrowing facility to provide finance while the firm replaces U.S. commercial paper
Jargon for the Swiss Franc.
Liquidating an existing position and simultaneously reinstating a position in another futures
systematic withdrawal plan
Plans offered by mutual fund companies that allow unitholders to receive payment from their investment at regular intervals.
Triple witching hour
The four times a year that the S&P futures contract expires at the same time as the S&P
The trade deficit and the government budget deficit.
Treasury bills trade on a wi basis between the day they are auctioned and the day settlement is made.
Wild card option
The right of the seller of a Treasury Bond futures contract to give notice of intent to deliver
This is a legal document detailing how you want your assets to be distributed upon your death. You may also stipulate how you wish to be buried or who you would like to take care of any surviving dependent family members. In my opinion, it is very important to be quite specific about your wishes for the distribution of special assets such as the antique grandfather clock, the classic silver tea set or the antique piano. If you think that your beneficiaries may dispute how your things are to be distributed, consider stipulating that an auction be held in which all beneficiaries may bid on the item which they value and all moneys collected are then shared in the same manner in which you distributed your other liquid assets. Your might want to remember that a will is automatically revoked upon marriage unless the will specifically states that the will is made in contemplation of marriage.
A guaranteed investment contract purchased with deposits over some future designated
curse Problem faced by uninformed bidders. For example, in an initial public offering uninformed
A firm operating a private wire to its own branch offices or to other firms, commission houses or
An electronic transmission of money from one place to another. For example, you might request that your bank transfer money from your bank account in Vancouver to the account of a relative in Quebec City. To do this, you would provide the relative’s name and account number, as well as the address of the bank in Quebec City. Your bank would then "wire" the funds, which would usually arrive within a couple of days.
Purchase of shares in which the buyer is entitled to the forthcoming dividend. Related: exdividend.
Purchase of shares in which the buyer is entitled to the rights to buy shares in the company's
The release of items from storage.
The ability to establish automatic periodic mutual fund redemptions and have proceeds
A tax levied by a country of source on income paid, usually on dividends remitted to the
If 70 were bid in the market and there was no offer, the quote would be "70 bid without." The
without the lender having any right to seek payment or seize assets in the event of
Annual report required by the SEC each year. Provides a comprehensive overview of a company's state
A line representing equilibrium in the goods and services market, on a diagram with aggregate demand on the vertical axis and aggregate supply on the horizontal axis.
Part of the return that is not due to systematic influences (market wide influences). In
The ability to produce a good or service with fewer resources than competitors. See also comparative advantage.
Absolute Right of Return
Goods may be returned to the seller by the purchaser without restrictions.
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
A broad, all-inclusive term that refers to the methods and procedures
An equation that reflects the two-sided nature of a
Total liabilities exceed total assets. A firm with a negative net worth is insolvent on
Intentional misstatements or omissions of amounts or disclosures in
The ease and quickness with which assets can be converted to cash.
‘Buckets’ within the ledger, part of the accounting system. Each account contains similar transactions (line items) that are used for the production of financial statements. Or commonly used as an abbreviation for financial statements.
Short-term, non-interest-bearing liabilities of a business
Short-term, non-interest-bearing debts owed to a
The amount of interest owing but not paid.
A contra-fixed asset account representing the portion of the cost of a fixed asset that has been previously charged to expense. Each fixed asset account will have its own associated accumulated depreciation account.
A contra, or offset, account that is coupled
Act of state doctrine
This doctrine says that a nation is sovereign within its own borders and its domestic
Additional paid-in capital
Amounts in excess of the par value or stated value that have been paid by the public to acquire stock in the company; synonymous with capital in excess of par.
A grouping of sales producers according to region. Compare with Branch.
Agency cost view
The argument that specifies that the various agency costs create a complex environment in
A forceful and intentional choice and application of accounting principles
Aggressive Cost Capitalization
Cost capitalization that stretches the flexibility within generally
Allowance for doubtful accounts
A contra account related to accounts receivable that represents the amounts that the company expects will not be collected.
An option that can be exercised any time until its
Reduction in value of an asset over some period for accounting
The write-off of an asset over the period when the asset is used. This term
A schedule that shows precisely how a loan will be repaid. The schedule gives the required payment on each specific date and shows how much of it constitutes interest and how much constitutes repayments of principal.
Annual fund operating expenses
For investment companies, the management fee and "other expenses,"
An annuity with n payments, wherein the first payment is made at time t = 0 and the last
Annuity in arrears
An annuity with a first payment on full period hence, rather than immediately.
A clause in a shareholders agreement preventing a company from issuing additional shares, without allowing the current shareholders the opportunity to participate in the offering to avoid dilution of their percentage ownership.
Specific sections and rules of the 1933 Act and 1934 Act that are
The simultaneous buying and selling of a security at two different prices in two different markets,
Arm's length price
The price at which a willing buyer and a willing unrelated seller would freely agree to
Also known as a trading index (TRIN)= (number of advancing issues)/ (number of declining
This is the quoted ask, or the lowest price an investor will accept to sell a stock. Practically speaking, this
A bond indenture restriction that permits additional borrowing on if the ratio of assets to
An interest rate swap used to alter the cash flow characteristics of an institution's assets so as to
a ratio measuring asset productivity and showing the number of sales dollars generated by each dollar of assets
Assuris is a not for profit organization that protects Canadian policyholders in the event that their life insurance company should become insolvent. Their role is to protect policyholders by minimizing loss of benefits and ensuring a quick transfer of their policies to a solvent company where their benefits will continue to be honoured. Assuris is funded by the life insurance industry and endorsed by government. If you are a Canadian citizen or resident, and you purchased a product from a member life insurance company in Canada, you are protected by Assuris.
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.
The correlation of a variable with itself over successive time intervals.
Automated Clearing House (ACH)
A collection of 32 regional electronic interbank networks used to
Elements of spending that do not vary systematically with variables such as GDP that are explained by the theory. See also exogenous expenditure.
An arithmetic mean of selected stocks intended to represent the behavior of the market or some
The average time to maturity of securities held by a mutual fund. Changes in interest rates
Costs that are identifiable with and able to be influenced by decisions made at the business
A trade, quote, or market that does not originate with the dealer in question, e.g., "the bid is 98-10
The fee paid on the extension date if the buyer wishes to continue the option.
Brokerage house clerical operations that support, but do not include, the trading of stocks and
Back To Back Annuity
This term refers to the simultaneous issue of a life annuity with a non-guaranteed period and a guaranteed life insurance policy [usually whole life or term to 100]. The face value of the life insurance would be the same amount that was used to purchase the annuity. This combination of life annuity providing the highest payout of all types of annuities, along with a guaranteed life insurance policy allowed an uninsurable person to convert his/her RRSP into the best choice of annuity and guarantee that upon his/her death, the full value of the annuity would be paid tax free through the life insurance policy to his family members. However, in the early 1990's, the Federal tax authorities put a stop to the issuing of standard life rates to rated or uninsurable applicants. Insuring a life annuity in this manner is still an excellent way to provide guaranteed tax free funds to family members but the application for the annuity and the application for the life insurance are separate transactions and today, most likely conducted through two different insurance companies so that there is no suspicion of preferential treatment given to the life insurance application.
Refers to accounts receivable from credit sales to customers
Balance of Payments Accounts
A statement of a country's transactions with other countries.
A financial statement showing the financial position of a business – its assets, liabilities and
A financial report showing the status of a company's assets, liabilities, and owners' equity on a given date.
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