aval

(finance, law) A financial guarantee by a third party to assume the burden of a debt, especially a bill of exchange in the event of default.


lock-in

(finance) The situation where an investor cannot trade without incurring an undesirable penalty such as taxation.


exchangeable

(finance) Having an associated right to be exchanged for another form of financial security.


exchangeable

(finance) Any financial instrument with an associated right to be exchanged for another form of financial security.


Alt-A

(US, finance) Alternative-A — Describing mortgages loans that do not conform to the traditional standards of Fannie Mae, but are presented as having an "A" credit rating, based on the borrower's FICO credit score.


net worth

en-noun

net worth (countable and uncountable, plural net worths)

His car company, Tesla, controls two-thirds of the multibillion-dollar electric-vehicle market it pioneered and is valued at a cool $1 trillion. That has made Musk, with a net worth of more than $250 billion, the richest private citizen in history, at least on paper.

December 13 2021, Molly Ball, Jeffrey Kluger, Alejandro de la Garza, “Elon Musk: Person of the Year 2021”, in Time Magazine:

(accounting) The total assets minus total liabilities of an individual or a company.


financing

financing (countable and uncountable, plural financings)

The successive equity financings were at higher and higher valuations.

(finance, business) A transaction that provides funds for a business.


basis point

(finance) One hundredth of one percentage point.


GAAP

w:Generally Accepted Accounting Principles

(accounting) Acronym of Generally Accepted Accounting Principles.


IFRS

w:International Financial Reporting Standards

(accounting) Initialism of International Financial Reporting Standards.


divestment

divestment (usually uncountable, plural divestments)

The fossil fuel divestment movement is calling on institutions to divest from the companies causing climate change.

The divestment movement against Big Carbon is gathering force. While it will never bankrupt the mega-corporations, it can reveal unethical practices while triggering a debate about values that recognizes that such practices are nested in economic systems that encourage, inhibit or even prohibit them.

2014 November 6, Rob Nixon, “Naomi Klein’s ‘This Changes Everything’”, in New York Times:

(finance) The sale or other disposal of some kind of asset.


double-entry

(accounting) Describing a method of bookkeeping in which each transaction is entered in two accounts, for debits and for credits.


disintermediation

disintermediation (countable and uncountable, plural disintermediations)

Any disintermediation crisis, such as has occurred three times since 1966, causes mortgage money to dry up and slow down new housing construction which the country desperately needs.

1974 July 18, “Disintermediation”, in The New York Times, →ISSN:

financial instrument
financial instrument

(banking, finance, economics) The removal of funds from a financial institution such as a bank for direct purchase of financial instruments.


disintermediate

en-verb

disintermediate (third-person singular simple present disintermediates, present participle disintermediating, simple past and past participle disintermediated)

disintermediates (present singular third-person)
disintermediating (participle present)
disintermediated (participle past)
disintermediated (past)

High-profile ventures like Amazon.com, Dell, and E*Trade helped to hype the Internet as the means to disintermediate, or cut out the middlemen. The theory was that these indirect channels weren't necessary anymore.

The rise of the Internet has allowed individuals in the dating market to disintermediate their friends, i.e. to meet romantic partners without the personal intermediation of their friends and family.

2019 August 20, Michael Rosenfeld, Reuben J. Thomas, Sonia Hausen, “Disintermediating your friends: How Online Dating in the United States displaces other ways of meeting”, in Proceedings of the National Academy of Sciences, volume 116, number 36, →DOI:

(business, banking, finance) To carry out disintermediation.


interest rate swap

en-noun

interest rate swap (plural interest rate swaps)

(finance) A contract to exchange the benefit of one interest rate with another. Often a fixed interest rate is exchanged for a variable rate so as to allow one party to remove an exposure to a variable rate for which they pay a premium on the fixed rate in order to compensate for this 'insurance'. The two rates can also be based on different currencies.


credit note

Coordinate term: debit note

(accounting) A commercial document issued by a seller to adjust downwards the amount of an invoice already issued, i.e. to cancel part or all of it.

dobropis

commercial document issued by a seller to a buyer to cancel part or all of an earlier invoice


unsystematic risk

unsystematic risk (usually uncountable, plural unsystematic risks)

(finance) Risk peculiar to an asset, which can be eliminated through diversification.


exchange rate

LL-Q1860 (eng)-Flame, not lame-exchange rate.wav

(economics, finance) The rate at which one currency can be exchanged for another, usually expressed as the value of the one in terms of the other.


forgivable

en-adj

forgivable (comparative more forgivable, superlative most forgivable)

more forgivable (comparative)
most forgivable (superlative)

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From forgive + -able. Partially displaced non-native Middle English pardonable (“capable of being pardoned, forgivable”) from Old French pardonable (“forgivable”).

noncog

(finance, not comparable) Of a loan, or a portion of it: such that repayment may be deferred for a period, or canceled, by the lender, if the borrower meets certain obligations.


CVC

corporate venture capital
w:corporate venture capital

(finance) Initialism of corporate venture capital.


floor plan lending

(finance) Also known as wholesale lending, a form of retail goods inventory financing in which each loan advance is made against a specific piece of collateral.


FBO

(US, finance) Initialism of for the benefit of (e.g., on a check or other financial instrument sent to a custodian).


vendor bid

(finance) A type of bid at an auction which is made by the auctioneer on behalf of the vendor, without any desire to buy the article. This is used as a tactic to keep the bids moving, or to persuade buyers to pay more, or merely to have a higher price to report if the property is passed in. Such a bid is in essence a fiction; if not clearly announced as such, it approaches the deliberate deception of a dummy bid.


negative pledge

en-noun

negative pledge (plural negative pledges)

The idea (and hence presumably the name) developed in the United States, and then went global. (Reference: Trevor Sykes, The Bold Riders, second edition, 1996, →ISBN, page 8.)

(finance) A type of loan or loan condition in which the borrower agrees with the lender not to allow any other lender or creditor to rank ahead for payment in the event of a liquidation. Such a loan is unsecured (ie. not backed by a charge over specific assets).


letter of comfort

letter of comfort (plural letters of comfort)

(finance) A letter that is not legally binding but provides some form of assurance about the financial position of an entity.


pathfinder

→ German: Pfadfinder (calque)

pathfinder prospectus
pathfinder prospectus#English

(finance) Short for pathfinder prospectus.


bad debt

bad debt (countable and uncountable, plural bad debts)

The firm’s researchers also went through the public accounts of nearly all the major financial institutions in the world and constructed estimates of how much money they stood to lose from bad debts.

2011 July 18, John Cassidy, “Mastering the Machine”, in The New Yorker, →ISSN:

(business, accounting) A debt which cannot be recovered from the debtor, either because the debtor lacks the money to pay or because the debtor cannot be found and/or forced to pay.


subpar

(finance) Trading a price below face value.


muni

I invested half of my savings in a muni fund.


decliner

(finance) A company's stock which is falling in price.


shunter

(finance, UK, historical) One who shunts (carries on arbitrage between London and provincial stock exchanges).


optionable

en-adj

optionable (comparative more optionable, superlative most optionable)

more optionable (comparative)
most optionable (superlative)

(finance) Of or pertaining to options on a stock or equity. For some stocks, it is possible to trade options on them, hence they are optionable, for other stocks options aren't traded so they are not optionable.


bid price

(finance) The price offered by a potential buyer when bidding for goods.


capital equipment

(US, accounting) Any single asset which has an acquisition cost of $5,000 or more and a useful life of more than one year, whether purchased outright, acquired through a capital lease or through donation. It also includes certain constructed or fabricated items and certain component parts (See UW Shared Financial System Accounts and Definitions.) It does not include real property (land), software or library holdings.


TIC

en-noun

TIC (countable and uncountable, plural TICs)

(finance) Initialism of total invested capital.


DNE

(business, accounting) Initialism of division net earnings, the net earnings for a particular business division.


off-book

An enormous amount of off-book money sloshes around Chinese business and officialdom, and some of it runs into handbags.

(accounting) Off the books, not officially recorded.


tax shelter

(economics, finance) A legal structure that reduces tax liability for a person or the assets of that person.


pullback

(finance) A reduction in the price of a financial instrument after reaching a peak


tie-up

Goods values increase as businesses limit their stocks in order to reduce capital tie-up.

(finance) The act of tying up (or immobilizing) a capital.


financer

And only a select few borrowers with pristine credit can secure the most attractive rates: for the week that ended Jan. 15, rates on a 30-year fixed mortgage sank to 5.12 percent, the 11th consecutive weekly drop and the lowest rate since the big mortgage financer Freddie Mac began tracking them in 1971.

2009 January 24, Tara Siegel Bernard, “Costs and Tighter Rules Thwart Refinancings”, in New York Times:

(finance) An entity that provides financing


walkthrough

LL-Q1860 (eng)-Flame, not lame-walkthrough.wav

(accounting) A financial audit that traces a sample transaction through the system to ensure that it is processed and reported correctly.


underrun

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(accounting) A condition in which fewer products are delivered or produced than had been ordered.


volga

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to changes in the volatility of the underlying asset.


payout

(finance) The value of dividends paid to shareholders.

osinkosumma

the value of dividends paid to shareholders


gold bug

The swing in equities scared him so much that he became a gold bug for a while.

Still, crypto has been effectively marketed: It manages both to seem futuristic and to appeal to old-style goldbug fears that the government will inflate away your savings, and huge past gains have drawn in investors worried about missing out.

2022 January 28, Paul Krugman, “How Crypto Became the New Subprime”, in The New York Times, →ISSN:

(informal, finance) A person with a particularly great enthusiasm for investing in gold (the metal).


structuring

structuring (countable and uncountable, plural structurings)

(finance) Synonym of smurfing (“money-laundering technique”)


hedged

(finance) Offset by another financial asset.


tailgating

tailgating (usually uncountable, plural tailgatings)


repackaging

repackaging (countable and uncountable, plural repackagings)

(finance) The purchasing of all of the stock in a public company and taking it private in order to resell at a profit.


deleverage

en-verb

deleverage (third-person singular simple present deleverages, present participle deleveraging, simple past and past participle deleveraged)

deleverages (present singular third-person)
deleveraging (participle present)
deleveraged (participle past)
deleveraged (past)

(finance) To reduce debt by rapidly selling assets.

schuld aanzuiveren

to reduce debt in by rapidly selling assets


double-dip

double-dip (third-person singular simple present double-dips, present participle double-dipping, simple past and past participle double-dipped)

double-dips (present singular third-person)
double-dipping (participle present)
double-dipped (participle past)
double-dipped (past)

LL-Q1860 (eng)-Flame, not lame-double-dip.wav

(US, finance) To use a single debt instrument to obtain interest tax expense (and therefore a lower tax base) in two or more tax jurisdictions.


recapitalization

(finance) A restructuring of a company's mixture of equity and debt


ACA

chartered accountant
chartered accountant#English

(accounting) Initialism of associate chartered accountant.


thin trading

(finance, stock market) The characteristic of lower trading frequency, commonly observed with lesser known companies and firms listed on the market. It often suggests higher level of investment opportunity and risk for investors, less transparency and less public information.


Wavoid

He created WAVX 101, an online "course" for fledgling Wavoids that is quite literally the book on Wave.

1999 December 13, Danny Hakim, “Catching the Wave”, in SmartMoney:

The Wavoids and Raging Bull's WAVX board are at the frontier of a still-evolving manifestation of modern investing life: the financial message board.

2000 February 28, Danny Hakim, “Who Wants to Marry a Wavoid Multimillionaire?”, in SmartMoney:

Joe Trippi--username "random1"--was also a Wavoid.

2003 November 17, Noam Scheiber, “Organization Man: Joe Trippi Reinvents Campaigning”, in The New Republic:

Through the boom and bust, when Wave's stock sold for $50 a share and when it sold for less than a buck, when the company was delisted from the Nasdaq in 1997 and then reinstated in 1999, the Wavoids have been predicting that Wave will be bigger than Intel, AOL, or Yahoo -- and searching for clues that Wave's software is about to become the gold standard of trusted computing, an indispensable part of the 150 million PCs shipped yearly.

2004 June 14, Scott Kirsner, “After 16 years of struggle, Wave awaits its big break”, in The Boston Globe:

At the height of the technology bubble, Wave Systems attracted a devoted throng of investors from across the country who called themselves Wavoids.

2004 August 14, Danny Hakim, “For a Reformed Wavoid, The Play's the Thing”, in The New York Times:

The Wavoids say they believe that Wave’s moment has finally come — of course, they have always believed that Wave’s moment has finally come.

2007 March 4, Danny Hakim, “That Ship Will Come In, Right?”, in The New York Times:

(finance, informal) A person who believes (often fervently) that Wave Systems Corp. will be a financial success.


cash position

(business, finance) The amount of cash available to a company at a given point in time.

pénzkészlet

the amount of cash available to a company at a given point in time


market risk

en-noun

market risk (countable and uncountable, plural market risks)

(finance) The risk that the value of an investment will decrease due to moves in market factors.


credit risk

credit risk (countable and uncountable, plural credit risks)

(finance) The risk of loss due to a debtor's non-payment or delayed payment of a financial obligation, such as an account payable, a loan or other line of credit.


k-line

Short for kill line, and refers to the line in an IRC daemon's configuration file, prefixed with a k, that records a user's hostname to prevent further access to the server

(Asia, finance) A style of financial chart used to describe price movements of a security, derivative, or currency


go public

en-verb

go public (third-person singular simple present goes public, present participle going public, simple past went public, past participle gone public)

goes public (present singular third-person)
going public (participle present)
went public (past)
gone public (participle past)

initial public offering
initial public offering

(idiomatic, intransitive, business, finance) To launch an initial public offering.


yield to maturity

en-noun

yield to maturity (plural yields to maturity)

internal rate of return
internal rate of return

(finance) The internal rate of return on a bond held to maturity, assuming scheduled payment of principal and interest.


bond premium

(finance) The amount that the purchaser pays in buying a bond that exceeds the face value or call value of the bond.


refinancing

(finance) One or more loans or other borrowings that repay and replace previous financings.


recasting

recasting (countable and uncountable, plural recastings)

(finance) The adjustment of a loan that would otherwise be defaulted.


underweight

en-adj

underweight (comparative more underweight, superlative most underweight)

more underweight (comparative)
most underweight (superlative)

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The fund is underweight in mining.

2011, Murdoch, S. Foreigners back for Aussie stocks, The Australian
"It's a long-run trend of foreign investors -- typically being underweight the banking sector in Australia," Mr Baker said.

(finance) Being less invested in a particular area than market wisdom suggests.


underweight

en-noun

underweight (countable and uncountable, plural underweights)

Further, structured managers usually attempt to hit their lower targets by relying on a relatively large number of small active deviations (i.e., overweights and underweights).

2004, Bob Litterman, Modern Investment Management: An Equilibrium Approach, page 198:

Consider a conventional long-only portfolio with underweights on holdings the investment manager does not like and overweights on holdings the manager does like.

2011, Peter L. Bernstein, Capital Ideas Evolving, page 230:

(countable, finance) An underweight investment.


underweight

en-verb

underweight (third-person singular simple present underweights, present participle underweighting, simple past and past participle underweighted)

underweights (present singular third-person)
underweighting (participle present)
underweighted (participle past)
underweighted (past)

Although the portfolio overweights the German market, it underweights German marks.

2009, Philip Lawton, Todd Jankowski, Investment Performance Measurement, page 419:

(transitive, finance) To invest in less than conventional wisdom would dictate.


fugit

(finance) the optimal date to exercise an American option (or a Bermudan option)


regularization

en-noun

regularization (countable and uncountable, plural regularizations)

LL-Q1860 (eng)-Flame, not lame-regularization.wav

A large regularization parameter may over-smoothen the solution, while a small regularization parameter may lose the ability to stabilize the solution.

2020 March 30, Ratinan Boonklurb, Ampol Duangpan, Phansphitcha Gugaew, “Numerical Solution of Direct and Inverse Problems for Time-Dependent Volterra Integro-Differential Equation Using Finite Integration Method with Shifted Chebyshev Polynomials”, in Symmetry, volume 12, number 4, →DOI:

(mathematics, computer science, finance) a process that simplifies results, often used to obtain results for ill-posed problems or to prevent overfitting.


information velocity

information velocity (countable and uncountable, plural information velocities)

(finance) The rate at which information that influences the price of securities in informationally efficient markets moves through the market.


redraft

(finance) A new bill of exchange which the holder of a protested bill draws on the drawer or endorsers, for the amount of the bill, with costs and charges.


contingent claim

contingent claim (plural contingent claims)

(finance) A claim that can be made when certain specified outcomes occur. It depends on the state of nature of the financial claim.


strap strategy

strap strategy (plural strap strategies)

(finance) A bullish options strategy that is established by buying a two calls and one put option with the same exercise price. The trader is betting on volatility.


strip strategy

strip strategy (plural strip strategies)

(finance) A bearish options strategy that is established by buying a two puts and one call option with the same exercise price. The trader is betting on volatility.


Footsie

After the July 2005 bombings in London, when the Footsie, after an initial fall, rose to its highest point of the year, the Daily Mail praised its "stellar performance", the Independent its "bulldog spirit".

2007 March 19, Peter Wilby, “How to play Footsie with younger readers”, in The Guardian:

(finance, slang) The FTSE and the FTSE 100 Index.


mezz

Mezz finance deals are typically structured as either an unsecured or subordinated (junior) note, or as preferred stock issues, and they frequently involve greater leverage levels than would be countenanced even in high-yield bond deals.

(finance, informal) Of or relating to mezzanine financing.


proration

proration (countable and uncountable, plural prorations)

(accounting) In the insurance industry, the act of taking money that is currently due from the insurance company and moving it to the patient, knowing that the dollar amount being moved is due from the patient as a deductible, coinsurance, or copayment amount.


letter of credit

letter of credit (plural letters of credit)

(finance, banking) A document, used primarily in trade finance and issued generally by a financial institution, in which the institution promises to pay debts up to a certain limit to be acquired by the beneficiary against delivery of documents specified in the letter.


line of credit

(finance, banking) A credit facility under which a bank or other lender agrees to provide a client with loans of money up to an approved limit during a predefined period. The client may borrow the entire credit amount all at once or in portions during the specified period.

(finance, banking) The maximum borrowable amount made available by that facility.

信用額度 /信用额度

maximum borrowable amount specified in such an agreement


cost overrun

(accounting) An excess of actual cost over budget.


noncumulative

The payment consists of $3 billion in common stock for $25.35 a share as well as $6 billion in perpetual noncumulative convertible preferred stock with a 10 percent dividend and a conversion price of $31.25 a share.

2008 September 29, Louise Story, “Morgan Stanley Completes Mitsubishi Deal”, in The New York Times:

(finance) Not having an accumulating right to receive dividends unpaid in previous periods.


cost avoidance

cost avoidance (countable and uncountable, plural cost avoidances)

(management, accounting) An expense one has avoided incurring.


microfinance

microfinance (usually uncountable, plural microfinances)

From micro- + finance. Coined by German sociologist and economist Hans Dieter Seibel in 1990.

coin

Microfinance, once a relative cottage industry championed by antipoverty activists and development wonks, is on the verge of a revolution, with billions of dollars from big banks, private-equity shops and pension funds pouring in.

2008 June 5, Barbara Kiviat, “The Big Trouble In Small Loans”, in Time, archived from the original on 2011-02-09:

(finance) Finance that is provided to unemployed or low-income people or groups.


CDO-squared

collateralized debt obligation
collateralized debt obligation

(finance) A type of CDO (collateralized debt obligation) that invests in other CDOs.


writedown

If Chelsea were to fall foul of profit and sustainability, they would be expected to cite unforeseen circumstances, much as some clubs have claimed Covid writedowns: their books would have been sound but for the pandemic.

March 11 2022, David Hytner, “Chelsea are in crisis but there is no will to leave club on their knees”, in The Guardian:

(accounting) An adjustment; a precise amount adjusted by an act of writing down or entering an asset and its value; a reduction of an asset, written down or otherwise recorded as such.

Abschreibung

adjustment; precise amount adjusted by an act of writing down an asset


nonconvertible

(finance) Of a currency: used domestically, not traded on the foreign exchange.


noncredit

noncredit decisions

(finance) Not related to financial credit.


levered firm

(UK, business, finance) A company that funds its operations by taking out loans.


account receivable

en-noun

account receivable (plural accounts receivable)

Coordinate term: account payable

(accounting, usually in the plural) Amount recorded as being owed by a customer for sales on credit or on account.


chewable

en-adj

chewable (comparative more chewable, superlative most chewable)

more chewable (comparative)
most chewable (superlative)

(finance, of a poison pill) Allowing for a particular type of bid that does not trigger the flip-in.


commercial paper

en-noun

commercial paper (countable and uncountable, plural commercial papers)

Only well-known retailers have a chance to bypass the banks and issue their own commercial paper.

negotiable instrument
negotiable instrument

(finance) A negotiable instrument with short maturity.


nonredeemable

(finances) Not able to be redeemed by being converted into e.g. gold.


sales ledger

(accounting) A ledger of sales. More correctly referred to as accounts receivable.


financials

(accounting, business) Financial statements.

Financials generally pay high dividends.

(business, finance) Financial institutions, as a group, such as banks and insurance companies.

(business, finance) Shares in financial companies.


DCA

dollar cost averaging
dollar cost averaging#English

(finance) Initialism of dollar cost averaging.


optionality

optionality (countable and uncountable, plural optionalities)

The short-term payoff for this is modest, but the optionality value is enormous.

(finance, business) The value of additional optional investment opportunities available only after having made an initial investment.


Brigitte Bardot

Brigitte Bardot (plural Brigitte Bardots)

Named after French fashion model and actress Brigitte Bardot (1934–).
Sense 2 inspired by Bardot's popular nickname, BB.

named-after

These practices included back to back loans (in some quarters colloquially termed Brigitte Bardot′s from the initials B.B.),[…].

1992 March 3, Michael Rozenes, “Prosecuting Regulatory Offenders”, in parliamentary debates:

This is a back-to-back loan, sometimes called BBs or Brigitte Bardots.

1995, The Bulletin, numbers 5953-5959, page 77:

(Australia, finance, informal) A back-to-back loan.


write off

en-verb

write off (third-person singular simple present writes off, present participle writing off, simple past wrote off, past participle written off)

writes off (present singular third-person)
writing off (participle present)
wrote off (past)
written off (participle past)

Coordinate term: write down

(accounting, transitive) To reduce the book value of (an asset) to zero.

Coordinate term: write down

(accounting, transitive) To record (an expenditure) as an expense.

(accounting, transitive) To remove a portion of a debt or an amount of an account owed, counting it as a loss (as a gesture of goodwill for example).

(accounting) To record a notional expense such as amortization or depreciation.


purpose statement

en-noun

purpose statement (plural purpose statements)

(US, finance) An affidavit stating the purpose for a proposed loan.


CF

CF (countable and uncountable, plural CFs)


capital market

(finance) The market for long-term securities, including the stock market and the bond market.


fundamental analysis

fundamental analysis (countable and uncountable, plural fundamental analyses)

Fundamental analysis, though, will show you that Visa's lower per-share price doesn't mean it's a screaming buy.

2009, Matthew Krantz, Fundamental Analysis For Dummies, John Wiley & Sons, →ISBN:

(finance) An analysis of a business with the goal of financial projections in terms of income statement, financial statements and health, its management and competitive advantages, and its competitors and markets.


financial instrument

financial instrument (plural financial instruments)

derivative instrument
derivative instrument

(finance) Any form of funding medium, mostly those used for borrowing in money markets, including cash instruments and derivative instruments.


total loss

Dutch: total loss

Hebrew: טוטל לוס (totál los)

(accounting) An insured item of which the entire value is written off.


PAYE

(British, finance) Initialism of pay as you earn.


highflier

Virtually all highfliers that I have seen over all these years of trading have crumbled at some point.

2003, Larry Williams, The Right Stock at the Right Time, page 93:

I like Canadian stocks and have done quite well investing in them, but you are typically better off buying a stock on the Toronto Stock Exchange, Canada's leading exchange, than some of the highfliers in Vancouver.

2008, George Angell, Small Stocks for Big Profits:

(finance) A glamorous stock that potentially offers high returns to investors.


futures market

(trading, economics, finance) An exchange in which one can trade on commodities or financial instruments at a specified price for delivery at a specified future time.


securitize

en-verb

securitize (third-person singular simple present securitizes, present participle securitizing, simple past and past participle securitized)

securitizes (present singular third-person)
securitizing (participle present)
securitized (participle past)
securitized (past)

From security (“tradeable financial asset”) + -ize.

suffix

Once the private sector had discovered securitization, it securitized any claim imaginable, from residential mortgages to receivables for products and services from cars to credit cards and student loans; the original policy goal of lowering the costs of credit for homeowners gave away to minting as much private money (or debt) as investors demanded.

2020, Katharina Pistor, “4: Minting Debt”, in The Code of Capital […] , Princeton University Press, →ISBN:

(finance) To convert assets or claims (typically outstanding loans or other receivables) to securities, usually by selling them with a discount to a financial intermediary, which pools them with other similar assets and sells further as securities to third-party investors.


working capital

working capital requirement

(business, accounting) Amount of capital a business or other entity has available for running its daily operations, calculated as current assets minus current liabilities.


credit crunch

(economics, finance) A period of economic crisis in which credit and investment capital are difficult to obtain.

luottolama

period of difficulty in obtaining credit


falling knife

(trading) A stock whose price has dropped rapidly.


when, as, and if

The dividend on the preferred stock shall be payable in equal amount to the dividend on the common stock when, as, and if the Company declares a dividend on the common stock.

(law, finance, business) Used to indicate the timing and contingency of some obligation in contracts, especially financial.

jos ja kun

conjugation indicating time and contingency


unrealized

unrealized capital gains

That amendment, ratified in 1913, explicitly empowers Congress to tax incomes. But the Moores argue that unrealized gains aren’t income at all.

2023 December 4, Conor Clarke, “The Supreme Court Takes On Yet Another Made-Up Controversy”, in The Atlantic:

(finance, of a profit or loss) Not yet realized in cash; hypothetical.


profit warning

(stock market) An announcement by a company to its shareholders and other investors that its profits are likely to be less than expected.

tulosvaroitus

an announcement by a company that its profits are likely to be less than expected


flotation cost

(British, finance) The selling cost or distribution cost of issuing new securities.


open-end fund

collective investment scheme
collective investment scheme

(finance) A collective investment scheme which can issue and redeem shares at any time.


primary market

(finance) The part of the financial markets that deals with the issuance of new securities.


collective investment scheme

en-noun

collective investment scheme (plural collective investment schemes)

The definition of primary importance is of course the definition of "collective investment scheme" itself. That is to be found in s.235 of FSMA 2000.

2003, Jonathan Fisher, Jane Bewsey, The Law of Investor Protection:

If a fund is structured as a collective investment scheme, it cannot be marketed to the general public unless it is authorized.

2003, Theodor Baums, Andreas Cahn, Hedge Funds:

(British, finance) A way of investing money with other people to participate in a wider range of investments than may be feasible for an individual investor, and to share the costs of doing so.


closed-end fund

closed-end fund (plural closed-end funds)

(finance) A collective investment scheme with a limited number of shares.


secondary market

secondary market (plural secondary markets)

Although 4.1 million tickets were sold for the 2023 shows—including over 2 million on the first day, a new record—scalpers jacked up prices on the secondary market to more than $22,000.

2023 December 6, Sam Lansky, “Person of Year 2023 : Taylor Swift”, in Time:

(finance) The financial market for trading of securities that have already been issued in an initial private or public offering.


yield curve

(finance) The relation between the interest rate (or cost of borrowing) and the time to maturity of the debt for a given borrower in a given currency.


callable bond

(finance) A bond that can be called (redeemed) by the issuer prior to its maturity, on certain call dates, at call prices. On the call dates, the issuer has the right, but not the obligation, to buy back the bonds from the bond holders at the call price. Technically speaking, the bonds are not really bought and held by the issuer, but cancelled immediately or no longer accrue interest at the original coupon rate.


dividend equalisation reserve

dividend equilisation reserve (plural dividend equalisation reserves)

dividend equilisation reserve (canonical)
dividend equalisation reserves (plural)

(finance) A fund set up to ensure that dividends remain stable despite changes in a company's earnings


bear market

Coordinate term: crab market

Investors face a quandary. Cash offers a return of virtually zero in many developed countries; government-bond yields may have risen in recent weeks but they are still unattractive. Equities have suffered two big bear markets since 2000 and are wobbling again. It is hardly surprising that pension funds, insurers and endowments are searching for new sources of return.

2013 July 6, “The rise of smart beta”, in The Economist, volume 408, number 8843, page 68:

(finance) A stock market where a majority of investors are selling ("bears"), causing overall stock prices to drop.


money broker

(finance) A broker who deals in different kinds of money; one who buys and sells bills of exchange; money changer.


rent money

rent money (usually uncountable, plural rent moneys or rent monies)

rent moneys (plural)
rent monies (plural)


money scrivener

money scrivener (plural money scriveners)

(finance, British) A person who produces the loan of money to others.


money of account

money of account (usually uncountable, plural moneys of account or monies of account)

moneys of account (plural)
monies of account (plural)

(finance) A denomination of value used in keeping accounts, for which there may, or may not, be an equivalent coin.


seed money

seed money (usually uncountable, plural seed moneys or seed monies)

seed moneys (plural)
seed monies (plural)

(finance) Money used to set up a new business venture.


load fund

(finance) A mutual fund that charges sales load.


no-load fund

(finance) A mutual fund that charges no sales load.


ready money

ready money (usually uncountable, plural ready moneys or ready monies)

ready moneys (plural)
ready monies (plural)

[A] yong Freſh-water ſoldier that neuer before followed theſe ſtrange warres, and yet hath a Charge newly giuen him (by the old fellow Soldado Vecchio his father, when Death had ſhotte him into the Graue) of ſome ten or twelve thouſand in ready money, beſides ſo many hundreds a yeare: […]

1609, Thomas Dekker, “Lanthorne and Candle-light. Or, The Bell-man’s Second Nights-walke. […] The Second Edition, […]: Chapter 2”, in Alexander B[alloch] Grosart, editor, The Non-dramatic Works of Thomas Dekker. […] (The Huth Library), volume III, London, Aylesbury, Buckinghamshire: […] [Hazell, Watson, & Viney] for private circulation only, published 1885, →OCLC, pages 225–226:

It might have been supposed that, given a girl rapidly becoming good-looking, comfortably circumstanced, and for the first time in her life commanding ready money, she would go and make a fool of herself by dress.

1886 May, Thomas Hardy, chapter XIV, in The Mayor of Casterbridge: The Life and Death of a Man of Character. […], volume (please specify |volume=I or II), London: Smith, Elder & Co., […], →OCLC:

Lane: [Gravely.] There were no cucumbers in the market this morning, sir. I went down twice.
Algernon: No cucumbers!
Lane: No, sir. Not even for ready money.

1895, Oscar Wilde, The Importance of Being Earnest […] , [Act I]:

It made one sorry to see the extraordinary quantity of cattle, horses, goats, and other things, as houses and estates all sold for less than nothing, in their anxiety to set out on the road and have some ready money in their hands to help the 'holy Councillor' in his mad enterprise.

1920, R.B. Cunninghame Graham, chapter VI, in A Brazilian mystic: being the life and miracles of Antonio Conselheiro, London: William Heinemann, page 103:

Any of the fettlers were better off in respect to ready-money than he was.

1938, Xavier Herbert, chapter VI, in Capricornia, page 84:

(business, finance) Money held ready for payment, or actually paid, at the time of a transaction.


bill of sale

(law, finance) A formal instrument for the conveyance or transfer of goods and chattels.


stock company

(finance) an incorporated company the capital of which is represented by marketable shares having a certain equal par value


penny stock

Coordinate term: blue chip

Every so often, the practice reappears in the trading of “penny stocks”—cheap, rarely traded, shares. Years ago when volume was thinner, it was said to be common in blue chips too.

2000 August 10, “The price is wrong”, in The Economist, →ISSN:

(finance, UK, US) A highly speculative stock selling for less than one dollar/pound per share and quoted in cents or pence.


investment bank

investment bank (plural investment banks)

(banking, finance) A financial institution that deals with raising capital, trading in securities and managing corporate mergers and acquisitions.


fair market value

fair market value (countable and uncountable, plural fair market values)

(finance) The price at which the buyer and seller are willing to do business.


market jitters

(plural only, finance) Feelings of uncertainty among investors regarding the current economic environment and causing them to sell their stocks and bonds.


market opening

(finance) The beginning of formal trading on an exchange, usually signalled by the opening bell.


market capitalization

market capitalization (plural market capitalizations)

(finance) The total market value of the equity in a publicly traded entity.

市值

the total market value of the equity in a publicly traded entity


bull market

Coordinate term: crab market

(finance) A stock market where a majority of investors are buying ("bulls"), causing overall stock prices to rise.


market value

Yet when a commuter fare increase is made, the volume of protest from passengers is astonishing; some even accuse the railways of robbing suburbanites, for any increase in fares takes hundreds of dollars from the market value of suburban homes.

1959 November, J. N. Westwood, “The Railways of Canada”, in Trains Illustrated, page 555:

(finance) The price which a seller or insurer might reasonably expect to fetch for goods, services or securities on the open market.

valor de mercat

the price at which something is or can be traded


capital loss

(business, finance) An amount by which the proceeds of the sale of a capital asset by its owner are less than its cost to the owner.


capital gain

(business, finance) An amount by which the value or the proceeds of the sale of a capital asset by its owner exceed its cost to the owner.

kapitalindkomst

an amount by which the value or the proceeds of the sale of a capital asset by its owner exceed its cost to the owner


home equity

(finance) The monetary value of a home less the value of any encumbrances, such as liens or mortgages.


commodity market

commodity market (plural commodity markets)

(business, trading, finance) A market where raw or primary products are exchanged.


seigniorage

If Government, however, throws the expense of coinage, as is reasonable, upon the holder, by making a charge to cover the expense (which is done by giving back rather less in coin than has been received in bullion, and is called levying a seigniorage), the coin will rise, to the extent of the seigniorage, above the value of the bullion.

1848, John Stuart Mill, chapter VI, in Principles of Political Economy: With Some of Their Applications to Social Philosophy. […], volume II, London: John W[illiam] Parker, […], →OCLC, book III (Exchange), page 25:

The old kingly prerogative of altering the coinage was taken away, the unit of the currency was declared definite and unchangeable, and the seigniorage on minting was abolished.

1896, William Arthur Shaw, History of Currency, 1252 to 1896:

As a result of the lower than expected production, the mint has halved the amount it provides to government coffers through seigniorage, which is the difference between the face value of a coin sold to the banks and its cost of production.

2019 November 4, Sarah Martin, “Rise of cashless society sees coin sales plummet for Royal Australian Mint”, in The Guardian:

(money) The revenue obtained directly by minting coin (difference between face value and cost of metal).

(finance) The revenue obtained by the difference between interest earned on securities acquired in exchange for bank notes and the costs of producing and distributing those notes.

senioraż

money earned from difference on interest


superfund

A blend of superannuation (“retirement”) and fund

(British, Australia, finance) A investment vehicle for superannuation assets.


superfund

(finance) An investment fund that invests in other investment funds; a fund of funds.


derivative instrument

derivative instrument (plural derivative instruments)

(finance) A security whose value is derived from one or more other, more fundamental, assets.


stock market crash

stock market crash (plural stock market crashes)

(finance) A sudden dramatic decline of stock prices across a significant cross-section of a stock market.


credit rating

(finance) An estimate, based on a company, government or person's history of borrowing and repayment or available financial resources, that is used by creditors to determine the maximum amount of credit that can be extended without undue risk.

puntuació creditícia

estimate used by creditors to determine maximum amount of credit


notional amount

notional amount (plural notional amounts)

(finance) A nominal amount of a financial instrument that is used to calculate payments made on that instrument, especially for instruments that do not have a well-defined face value or par value.


maturity date

(finance) The date on which a principal amount of a note, draft, acceptance bond, or other debt instrument becomes due or payable.

到期日

date on which a principal amount of a note, draft or bond becomes due


perpetual bond

(finance) A bond with no maturity date, paying coupons forever.


stock loan

(finance) A loan structure using free-trading stock or in some cases restricted stock as collateral.

(finance, used in securities brokerages and investment banking) The loan of securities by one broker to another, such as to cover a customer short sale. More commonly known as securities lending.


nonrecourse

nonrecourse loan

(finance) Of or pertaining to a form of financing, typically debt financing, in which the lender's recourse to recovery in the event of default is limited to the collateral asset only.


TIN

(US, Philippines, finance) Initialism of taxpayer identification number.


profit taking

profit taking (countable and uncountable, plural profit takings)

The stock market was down today amid profit taking, the share holders wanted to get some of the increase in stock price as cash while they could.

(finance) The act of extracting profit, as cash or equivalent, from an investment, often by selling part of it.


tax lot

In some countries such as the USA, cost basis must be considered on a tax lot-by-tax lot basis.

2003, Stephen Satchell with Alan Scowcroft, Advances in Portfolio Construction and Implementation, page 128:

(accounting, taxation, US) A grouping of security holdings in an account used for enabling the calculation and treatment of the securities for tax compliance and reporting.

(accounting, real estate, US) An parcel of real property on which property taxes are levied.


fiscal year

(accounting) An accounting period of one year, not necessarily coinciding with the calendar year.

regnskabsår

in accounting, including non-standard years


bip

onom

Imitative


rat race

/ˈɹæt ˌɹeɪs/

/ˈɹæt ˌɹæɪs/

(politics, business, finance) Inconsiderate or unfair competition, where the competitors are willing to use any means to win.


line item

(accounting) An item of revenue or expenditure in a budget or other financial statement or report.


plastic money

(finance) Credit cards and debit cards as an alternative to cash.


Roth IRA

After William V. Roth Jr., who pushed for legislation that would allow for such IRAs; and IRA, initialism of individual retirement account.

(US, finance) A particular kind of IRA (individual retirement account), used for its tax-related benefits.


teaser rate

(informal, finance) An initial, relatively low, rate of interest on an adjustable-rate mortgage designed to attract borrowers.


credit line

(finance, banking) Synonym of line of credit.


PSU

payment service user
payment service user#English

(banking, finance) Initialism of payment service user.


gross profit

en-noun

gross profit (countable and uncountable, plural gross profits)

(accounting) The difference between net sales and the cost of goods sold.

رِبْح إِجْمَالِيّ

the difference between net sales and the cost of goods sold


ownership equity

(accounting) The remaining interest in all assets after all liabilities are paid.

vlastní kapitál

the remaining interest in all assets after all liabilities are paid


capital asset

(accounting) An asset that is recorded on a balance sheet as capital - that is, property that creates more property, such as a factory that creates shoes, or a forest that yields a quantity of wood.

(finance) An asset in the sense of accounting, but also including financial assets such as stocks or bonds.


intangible asset

intangible asset (plural intangible assets)

intellectual property
intellectual property

(business, accounting) Any valuable property of a business that is not a physical by nature, including intellectual property, customer lists, and goodwill. Intangible assets may or may not be shown on the balance sheet.


current asset

(accounting) An asset on the balance sheet which is expected to be sold or otherwise used up in the near future, usually within one year, or one business cycle - whichever is longer, such as cash, accounts receivable, and inventory.


cost-benefit analysis

cost-benefit analysis (countable and uncountable, plural cost-benefit analyses)

Gratifying as it is to read such editorials even in the press which supports Mr. Marples' party—and to learn that the G.N. Line's London suburban electrification is at last being given a cost-benefit analysis of the kind which overwhelmingly justified the L.T. Victoria Line […] but years later than need have been […]

1963 June, “Second thoughts on Beeching”, in Modern Railways, page 361:

(finance, economics) A methodology to help appraise or assess the case for a project or proposal, by estimating the net cost or benefit of the project of proposal.

成本效益分析

methodology to appraise the case for a project


ring out

en-verb

ring out (third-person singular simple present rings out, present participle ringing out, simple past rang out, past participle rung out)

rings out (present singular third-person)
ringing out (participle present)
rang out (past)
rung out (participle past)

LL-Q1860 (eng)-Flame, not lame-ring out.wav

By section 7 a penalty is provided for any “ringing out” of contracts for future delivery.

1894, United States. Congress, Congressional Record: Proceedings and Debates of the Fifty-Third Congress, Second Session (volume 26, part 7, page 6484)

Contracts in stocks w.i. (when issued—see When Issued) are also ringed out in the same manner as contracts in futures in grain, cotton, coffee, etc.

1930, The Practical Handbook of Business and Finance, page 434:

On the CBOT, ringing out was voluntary, while on the New York Cotton Exchange, it was compulsory.

2003, The Oxford Encyclopedia of Economic History, volume 5, page 388:

(finance) To eliminate the middlemen in a circular pattern of transactions.


vanna

Made up to sound like a Greek letter, probably beginning with "v" to be similar to vega.

(finance) A second-order measure of derivative price sensitivity, expressed as the rate of change of vega with respect to changes in the spot price, or equivalently the rate of change of delta with respect to changes in the volatility of the underlying asset.


CX

en-noun

CX (countable and uncountable, plural CXes)

(cryptocurrencies) Abbreviation of cryptocurrency.


PLA

(historical, trading) NYSE stock-ticker symbol for Playboy Enterprises, Inc., now PLBY.


stonk

Deliberate misspelling of stock, possibly under the influence of stink in reference to stocks relating to amateur or bad decisions, or financial loss. Possibly also nonsense; compare stronk (“strong”), thonk (“think”).

Stonk is essentially just a funny way to say “stock” – and once you understand that, it explains everything else that has happened.

[2021 January 28, Shelley Hepworth, “What is GameStop, where do the memes come in, and who is winning or losing?”, in The Guardian:

Long before Reddit, the Yahoo message boards of the late 1990s democratized the expression of strong opinions about stocks (they didn’t call them “stonks” in those days).

[2021 February 4, Neil Irwin, “How to Win at the Stock Market by Being Lazy”, in The New York Times, →ISSN:

Other so-called “stonks” – an intentional misspelling of “stocks” – favoured by retail traders on sites such as Reddit’s WallStreetBets also shot higher.

[2021 February 25, Mark Sweney, “GameStop shares surge again as trading frenzy returns”, in The Guardian:

It’s all part of our wild new YOLO FOMO LOL economy, where stonks only go up, memes count as financial advice and stimmies buy Hemis.

2021 April 25, Erin Griffith, “We’re All Crypto People Now”, in The New York Times, →ISSN:

(Internet slang, finance, humorous, chiefly in the plural) A stock, especially a bullish one.


net-net

(finance, humorous) Get to the point; stop rambling; show me the bottom line.


ISA

ISA (countable and uncountable, plural ISAs)

individual savings account
w:individual savings account

(UK, finance) Initialism of individual savings account, a financial account for investment with special tax rules.

individual savings account

International Standard on Auditing
w:International Standards on Auditing

(accounting) Initialism of International Standard on Auditing, one of a set of professional standards for the performance of audits of financial information issued by the IAASB.


RWA

risk-weighted asset
w:risk-weighted asset

(finance) Initialism of risk-weighted asset.


creditworthiness

(finance) The property of being creditworthy.


CCF

credit conversion factor
credit conversion factor#English

(finance) Initialism of credit conversion factor.


bear spread

(finance) One of a variety of strategies involving two or more options (or options combined with a position in the underlying stock) that can potentially profit from a fall in the price of the underlying stock.


TESSA

Coordinate term: TFSA

Tax-exempt special savings account
w:Tax-exempt special savings account

(British, finance, historical) Acronym of Tax-exempt special savings account.


CAGR

The concept of CAGR is similar to the idea of compound interest. It is the average annual growth rate when compounding is taken into account.

2009, Emily Chan, Harvard Business School Confidential: Secrets of Success, John Wiley & Sons, →ISBN, page 185:

(finance, business) Acronym of compound annual growth rate.


counterparty

(finance, insurance, law) The other party to a financial transaction.


reverse mortgage

reverse mortgage (plural reverse mortgages)

(finance) An agreement under which money is borrowed using one's home as collateral, to be repaid from the proceeds of its sale (usually on the owner's death).


Bermudan option

Bermudan option (plural Bermudan options)

Play on words due to the cultural, geographic, and political similarities between Bermuda alongside both the Americas and Europe and the fact that this financial option has elements of both American and European styles.

(finance) An option that can be exercised at specific dates between issue date and expiry date. Sometimes known as a mid-Atlantic option.


European option

European option (plural European options)

(finance) An option that can be exercised only at expiry date.


American option

American option (plural American options)

(finance) an option that can be exercised at any date between the issue date and the expiry date.


day count convention

day count convention (plural day count conventions)

(finance) A convention on how interest accrues over time for a variety of investments, including bonds, notes, loans, medium-term notes, swaps, and FRAs. It determines the number of days between two coupon payments.


L/C

letter of credit
letter of credit#English

(finance, banking) Initialism of letter of credit.


payment schedule

payment schedule (plural payment schedules)

financial instrument
financial instrument

(finance) A schedule defining the dates and amounts of payments to be made for a financial instrument such as a bond and a derivative.


FRA

forward-rate agreement
forward-rate agreement#English

(finance) Initialism of forward-rate agreement.


boom and bust

The reason such comments provoke scepticism is because Brown's mantra during his 10 years at the Treasury was that his prudence as chancellor of the exchequer would ensure there would never be a return to “boom and bust” economics.

2008 September 11, Deborah Summers, “‘No return to boom and bust’: what Brown said when he was chancellor”, in The Guardian:

Boom and bust is a long-running theme with rail suppliers. [...] I sympathise with those complaining of the ill-effects of boom and bust. [...] If boom and bust has been going on for decades (and it has), then perhaps it's an enduring characteristic and one that companies must work with, saving cash in the good times to see them through the bad.

2019 November 20, Philip Haigh, “An important to-do list for NR and its many suppliers”, in Rail, page 66:

(economics, finance, business) A pattern of high prices in a given market or in the entire economy followed by ruinously low prices, falling production, and bankruptcies by producers; prosperity followed by recession.


legal interest

(banking, finance) The amount of interest that is allowed or required to be charged by law; an interest rate determined by law.


value date

(accounting) Date and the action itself on which payments are credited or debited to the customer's imagined but legally real account, as opposed to the date a balance is made visible (posting date, entry date) which is when crediting of other funds takes place and which is usually the available sum, is the line of credit; interest payments are made from the value date onwards.

arvopäivä

Date and action on which payments are credited or debited to the customer's imagined but legally real account

but one usually distinctly refers to the action itself with Valuta


value date

en-verb

value date (third-person singular simple present value dates, present participle value dating, simple past and past participle value dated)

value dates (present singular third-person)
value dating (participle present)
value dated (participle past)
value dated (past)

(accounting) To perform the above-defined action with an amount.

to perform the above-defined action with an amount

not used in Finnish (use appropriate verb phrase with arvopäivä)


commutate

commutate (third-person singular simple present commutates, present participle commutating, simple past and past participle commutated)

commutates (present singular third-person)
commutating (participle present)
commutated (participle past)
commutated (past)

Back-formation from commutation (in the late 19th century), as is commutator (noun) too.

Ah, commutation. I knew there was something else. This is where you can commutate your weekly payments into a lump sum and be rid of the “system”.

2012, Stewart, Workers Compensation: Rorting the System Or System Rorted?, →ISBN:

(transitive, finance) To commute; to change one kind of payment into another, especially to convert from several installments to a single lumpsum payment.


Quotron

Originally a proprietary name. From quote + -tron?

(computing, finance) A computer system or service that provides stock market quotations


honeymoon period

en-noun

honeymoon period (plural honeymoon periods)

(finance) A relatively brief period when a new loan has a low introductory interest rate that features prominently in advertising.


Treasury bill

From Treasury (“the US Treasury”) + bill.

(finance) A government obligation, sold at a discount, maturing in one year or less, and pays no interest prior to maturity.


market maker

(finance) A person or company that undertakes to quote both a buy and a sell price for a financial instrument.

做市商

one who undertakes to quote buying and selling price for a financial instrument


quote-driven

(finance) Describing any market system in which prices are established by quotations given by market makers.


discretionary spending

discretionary spending (usually uncountable, plural discretionary spendings)

Perot would cut federal discretionary spending by 15 percent, chopping items that range from the space station to the Rural Electrification Administration.

1992, Bill Turque AND Ginny Carroll, "Ross Perot's New Tease," Newsweek, 31 Aug.

(US, government finances) US government expenditures which are subject to annual review and authorization by Congress, as distinct from expenditures authorized by existing laws.


Fannie Mae

(finance, informal) The Federal National Mortgage Association (FNMA), a stockholder-owned corporation sponsored by the US government, established in 1938 and partially privatized in 1968.


Freddie Mac

The acting CFO of Freddie Mac has been found dead in his basement, an apparent suicide. He's one of the executive team who has been clashing with regulators over how much to disclose about the ways the government has been running the company for its benefit, rather than that of the shareholders.

2009 April 22, Megan McArdle, “Freddie Mac CFO Commits Suicide”, in The Atlantic:

Federal National Mortgage Association
Fannie Mae

(finance, informal) The Federal Home Loan Mortgage Corporation (FHLMC), a private, stockholder-owned corporation sponsored by the US government, established in 1968 to provide market competition for the Federal National Mortgage Association (FNMA).


Texas ratio

(economics, finance) A measure of a bank's creditworthiness, equal to ratio of the bank's nonperforming assets (nonperforming loans plus other real estate owned) to the sum of its tangible equity capital plus loan-loss reserves.


mis-sell

en-verb

mis-sell (third-person singular simple present mis-sells, present participle mis-selling, simple past and past participle mis-sold)

mis-sells (present singular third-person)
mis-selling (participle present)
mis-sold (participle past)
mis-sold (past)

The firm is defending itself against fresh allegations of mis-selling pensions.

(British, finance) To sell misleadingly, fraudulently, or in violation of laws or regulations.


TED spread

Initially, the TED spread was the difference between the interest rate for the three month U.S. Treasuries contract and three month Eurodollars contract as represented by the London Inter Bank Offered Rate. So "TED" came from the initialism of "T-Bill" and "ED"—the ticker symbol for the Eurodollar futures contract. Since the Chicago Mercantile Exchange dropped the T-bill futures, the TED spread has had the current definition.

(finance) The difference in yields between inter-bank and U.S. Government loans.


front-end

front-end fee

front-end expenditure

(finance) Of a financial transaction, paid or charged first.


NTP

(finance) Initialism of not to press: applied to shares sold to a broker who agrees that delivery may be delayed.


acc.

(accounting) Abbreviation of accounting.

(accounting) Abbreviation of accountant.


nonconsolidated

(financial) Including the financial data of only the parent company.

nekonsolidovaný

including the financial data of only the parent company


nondepository

(finance) Relating to an entity whose financial activities are not based on deposits.


short selling

(commerce, finance) The practice of selling items or stock which one does not currently possess.


securitization

en-noun

securitization (countable and uncountable, plural securitizations)

/sɪˈkjʊəɹɪtʌɪzeɪʃən/

Securitization became a fee-based business. […] The logic of private-label securitization was mass production, and new mortgages had to be fed into this machine constantly to sustain it.

2020, Katharina Pistor, “4: Minting Debt”, in The Code of Capital […] , Princeton University Press, →ISBN:

(commerce, finance) The fact or process of securitizing assets; the conversion of loans into securities, usually in order to sell them on to other investors.


cash instrument

cash instrument (plural cash instruments)

In a liquidity crisis, some securities lose their claim to being cash instruments.

(finance) A financial instrument that is marketable at close to par under almost all circumstances.


break the buck

en-verb

break the buck (third-person singular simple present breaks the buck, present participle breaking the buck, simple past broke the buck, past participle broken the buck)

breaks the buck (present singular third-person)
breaking the buck (participle present)
broke the buck (past)
broken the buck (participle past)

Break (as in break the bank) + the + buck (“dollar (colloquial)”).

In 1994, during the Orange County bankruptcy, a few funds were poised to break the buck, until their parent companies stepped in.

2000, Charles A. Jaffe, Chuck Jaffe’s Lifetime Guide to Mutual Funds: An Owner’s Manual, Perseus Books Group, →ISBN, page 110, →ISBN:

"We were likely going to see more funds halt redemptions" and break the buck. The insurance program is part of a wider rescue package […]

2008 September 19, “Money-Market Funds Get $50 Billion Backstop From US (Update1)”, in Bloomberg:

(US, idiomatic, finance, of a money-market fund) To fall below the value of one dollar per share.


zero coupon

They decided to issue a note with a zero coupon.

(usually used attributively, finance) A non-existent coupon.

Their trademarked financial structure involved issuing several kinds of zero coupons.

(finance) A financial security that does not pay interest periodically.

zero

financial security without periodic interest


monoline

The premium charged by the monoline is not for funding expected losses, as with insurance, but for enhancing an investment-grade security to a AAA level.

2005, Charles Austin Stone, Anne Zissu, The Securitization Markets Handbook, →ISBN, page 283:

(finance) An insurer specialized in insuring investment-grade securities against loss.


too big to fail

1912, Fabian Society, Fabian Tract No. 164, "Gold and State Banking: A Study in the Economics of Monopoly"
The fact, which surely everybody knows and hardly anybody ventures to state, is that the stability of our great banks--and all our banking system which now matters a tittle consists of great banks--is based not on the supply of gold in their vaults, nor on the reserve in the Bank of England, but on the fact that they are too big to fail, too big commercially and far too big politically. If Lloyds, or the London County, or the National Provincial stopped payment, the consequences would far exceed a San Francisco earthquake, a Chicago fire, or any other catastrophe within the memory of man.

The Trunk's too big to fail. Too many investors. He'll get more money, keep the system going this side of disaster, then let it collapse.

In these efforts, we aim not only to make the financial system better able to withstand future shocks but also to mitigate moral hazard and the problem of "too big to fail," by reducing the range of circumstances in which systemic stability concerns might prompt government intervention.

2008, Ben S. Bernanke, Testimony on regulatory restructuring before the Committee on Financial Services, U.S. House of Representatives on July 10, 2008

This is the only remedy that would permit an escape from the “doom loop” described by Piergiorgio Alessandri and Andrew Haldane (2009), whereby, when financial institutions are seen as “too big to fail,” governments have no option but to bail them out with public money, no matter how many times they claim they will not do so.

2011, William Leiss, The Doom Loop in the Financial Sector: And Other Black Holes of Risk, University of Ottawa Press, →ISBN, page 126:

The rise of unregulated “shadow banks” and the lack of restrictions on insurers and asset managers were pinpointed as concerns – as was the growth of global banks to a scale larger than 2008 and the fear that they are again “too big to fail”.

2018 October 7, Shane Hickey, “Shadow banks, trade wars, Trump … clouds gather over the IMF’s paradise”, in The Observer:

“The risk that this monster bank can use its monopoly standing to blackmail the government and dictate its own regulation is enormous,” Wermuth said. “It’s absolutely too big to fail.”

2023 March 22, Philip Oltermann, quoting Cédric Wermuth, “Switzerland’s national pride dealt heavy blow by the merger of its banking titans”, in The Guardian, →ISSN:

(finance, economics, politics) Deemed too important to the economy or polity to be allowed to “fail”, that is to be liquidated or to go bankrupt.


obligor

(law, finance) The party bearing a legal obligation to another party (the obligee).


large cap

LL-Q1860 (eng)-Flame, not lame-large cap.wav

I think the large caps in web3 (BTC and ETH mainly) will start to attract more interest from investors and should do well in 2023. I am more bullish on ETH personally because it has the best underlying economic model of any web3 asset.

2023 January 1, Fred Wilson, “What Will Happen In 2023”, in AVC:

market capitalization
market capitalization

(finance) A company having a large market capitalization.


Black Thursday

(business, historical, economics, finance) The day when the New York Stock Exchange crashed before the Great Depression; Thursday, October 24th, 1929.

(business, historical, economics, finance) March 12, 2020, as part of the 2020 stock market crash; the day on which United States stock markets saw their biggest single-day percentage drop since 1987.


trading pit

(business, finance) An area on a trading floor that is a focus for trading certain items, often specially furnished with equipment or taking the shape of a small amphitheatre.


trading floor

(business, finance) An indoor space in which exchanges of standardized goods such as securities are completed.


promisor

Each of two or more joint promisors may compel every other joint promisor to contribute equally with himself to the performance of the promise, unless a contrary intention appears from the contract.

1873, Andrew Lyon, Law of India, Volume 1: The Codes, page 15:

[…]the creditor may request the promisor to perform his obligation to a third party.

2018, Adrian Briggs, Andrew Burrows, “Chapter 22: Formation and Third Party Rights in the Myanmar Law of Contract”, in Mindy Chen-Wishart, Alexander Loke, Stefan Vogenauer, editors, Formation and Third Party Beneficiaries, Oxford University Press, page 476:

This may be attributable to a personal mistake of the promisor or negligence of her estate planner.

2022, Alexandra Braun, Claiming a Promised Inheritance: A Comparative Study, Oxford University Press, page 105:

w:Webster's Dictionary#Webster's New International Dictionary 1909

(law, finance) One who engages or undertakes; a promiser.


balance the books

balance the books (third-person singular simple present balances the books, present participle balancing the books, simple past and past participle balanced the books)

balances the books (present singular third-person)
balancing the books (participle present)
balanced the books (participle past)
balanced the books (past)

I hardly think that cancelling Yorkshire's HS2 line counts as levelling up, but must admit that the South has its troubles too - particularly in London, where Transport for London is facing the prospect of cutting services to balance its books, as the pandemic continues to deter passengers and government appears unwilling to help.

2021 December 1, Philip Haigh, “TfL's deepening financial crisis puts Tube services at risk”, in RAIL, number 945, page 58:

(idiomatic, accounting) To add up all the debits and credits.


strike a balance

strike a balance (third-person singular simple present strikes a balance, present participle striking a balance, simple past struck a balance, past participle struck a balance or (rare) stricken a balance)

strikes a balance (present singular third-person)
striking a balance (participle present)
struck a balance (past)
struck a balance (participle past)
stricken a balance (participle past rare)

I'd like to wind up the accounts before—before—well, this time I shan't wait till the new year to strike a balance.

c. 1921 (date written), Karel Čapek, translated by Paul Selver, R.U.R. (Rossum’s Universal Robots): A Fantastic Melodrama […], Garden City, N.Y.: Doubleday, Page & Company, published 1923, →OCLC, Act 3:

(finance) To bring out the relative state of a debtor and creditor account.


IEO

en-noun

IEO (countable and uncountable, plural IEOs)

initial exchange offering
w:initial exchange offering

(cryptocurrencies) Initialism of initial exchange offering.


nominal ledger

(accounting, business) A general ledger.

(accounting, business) A ledger that is not a personal ledger or a real ledger, for example, a revenue or expense ledger.


general ledger

(business, accounting) The central accounting record of a company or organization consisting of the accounts that support the value items shown in the major financial statements.


insider trading

Wall Street wants repeal of the provisions for penalizing executives (and large stockholders) who trade in their company's securities. It claims that publicity on such "insider" trading is enough.

1942 February 9, “Back to Philadelphia”, in Time:

The aim of insider trading law is simple: prohibit people from profiting from advance knowledge of a stock-moving event—be it a merger, an earnings warning or a soon-to-be-published news story.

2003 June 5, Jake Ulick, “Insider trading: A primer”, in CNNMoney.com, retrieved 2008-10-25:

(business, finance, law) The illegal trading of a public company's stock or other securities based on material, nonpublic information about the company.

內線交易 /内线交易

trading of securities by a person who has privileged access to information

insájdɛrskije torgóvyje operácii s cénnymi bumágami

инса́йдерские торго́вые опера́ции с це́нными бума́гами


stock variable

(economics, accounting) A variable whose value depends on an instant rather than on a period of time.


flow variable

(economics, accounting) A variable whose value depends on a period of time rather than an instant, example being the gross domestic product.


preferred creditor

preferred creditor (plural preferred creditors)

(business, finance) A creditor who will have, in the event of the debtor's bankruptcy, greater rights of collecting than other creditors.


credit event

(finance) A significant default on a financial instrument or some other financial occurrence, such as bankruptcy, restructuring, repudiation, or moratorium, or failure to pay some other obligation, such as taxes.


CMO

CMO (countable and uncountable, plural CMOs)

(finance) Initialism of collateralized mortgage obligation.


credit default swap

credit default swap (plural credit default swaps)

The cost of that funding is partially influenced by the price of an instrument known as a credit default swap — essentially, a form of insurance that one party buys to protect against the possibility that another party will default. The higher the risk of default, the higher the price of the C.D.S., and the higher the cost of funding.

2023 March 15, Michael J. de la Merced, Maureen Farrell, “Credit Suisse to Borrow Up to $54 Billion From Central Bank”, in The New York Times:

(finance) A credit derivative contract between two counterparties, whereby the buyer (seller of risk) makes periodic payments to the seller (buyer of risk) in exchange for the right to a payoff if there is a default or other credit event in respect of a third party called reference entity.


write up

en-verb

write up (third-person singular simple present writes up, present participle writing up, simple past wrote up, past participle written up)

writes up (present singular third-person)
writing up (participle present)
wrote up (past)
written up (participle past)

(transitive, accounting) To make an upward adjustment in the value of an asset.


obligee

(law, finance) The party owed an obligation by another party, the obligor.


ultrashort

an ultrashort bond

(finance) Having a very short term of investment, typically less than a year

erittäin lyhyt

finance: having a very short term of investment


ultrashort

Ultrashorts were a way for the fund industry to appeal to bank customers, by offering an investment whose price did not vary much but whose yield was higher than that on certificates of deposit.

1995 February 19, Carole Gould, “Mutual Funds: Ultrashort but Long on Choices”, in The New York Times:

(finance) A bond with an extremely short term, typically less than a year


debt instrument

en-noun

debt instrument (plural debt instruments)

In this case, Entity A would be required to separate the equity conversion option (the embedded derivative) from the host debt instrument

2005, Abbas Ali Mirza, Financial Reporting Standards (IFRS) Workbook, page 235:

The creditworthiness of a publicly traded debt instrument is often judged in terms of the credit ratings assigned to it by investment rating

2005, James C. Van Horne with John Martin Wachowicz, Fundamentals of Financial Management, page 525:

(finance, law) A document evidencing a debt; the debt so evidenced.


CLN

credit-linked note
credit-linked note#English

(finance) Initialism of credit-linked note.


total return swap

total return swap (plural total return swaps)

(finance) A financial derivative that transfers both the credit risk and market risk of an underlying asset.


CDS

CDS (countable and uncountable, plural CDSs or CDSes or CDS)

CDSs (plural)
CDSes (plural)
CDS (plural)

credit default swap
credit default swap#English

(finance) Initialism of credit default swap.


best efforts

best efforts pl (normally plural, singular best effort)

(finance) An effort to sell securities without a firm underwriting.


chartism

(finance) The practices and methodologies of chartists.


chartist

(finance) A financial analyst who attempts to predict future movements in the prices of shares or other financial instruments by looking for patterns in charts of historical data.

chartiste

a financial analyst who attempts to predict future movements in the prices of shares or other financial instruments by looking for patterns in charts of historical data


shadow banking system

shadow banking system (plural shadow banking systems)

Coined by Paul McCulley in 2007. Parallel with earlier constructions such as shadow cabinet and shadow government as names for quasi-institutions running unofficially in parallel with the official institutions.

Given the Chinese banking sector's predominance in the economy, it seems surprising that China appears to need another, parallel, shadow banking system.

2016, Ning Zhu, China's Guaranteed Bubble […] , McGraw Hill, →ISBN, page 35:

(derogatory, banking, finance, economics) Non-bank financial institutions, that, like banks, borrow short and in liquid forms and lend or invest long in more illiquid assets.


unpeg

en-verb

unpeg (third-person singular simple present unpegs, present participle unpegging, simple past and past participle unpegged)

unpegs (present singular third-person)
unpegging (participle present)
unpegged (participle past)
unpegged (past)

(finance, transitive, intransitive) Synonym of depeg


callable

(finance) That may be redeemed by its holder before it matures.


premarket

Stocks are up in premarket trading this morning.

If you are relatively inexperienced, have little training, and are learning how to play a number of potential situations that can arise during the premarket, I advise you to first remain on the sidelines, to let the real trend emerge before attacking.

2004, John Netto, One Shot One Kill Trading, →ISBN, pages 181–182:

(finance) The informal market in stocks and other securities, held before the official markets open


NINJA loan

Coined by the American lending company HCL Finance from an approximate initialism of no income, no job, no assets.

On top of all this, banks are prying less into the private lives of their mortgage applicants. Traditionally, lenders wished to know something of the borrowers' background—their jobs, their wealth and soforth. In an age of perennially rising home prices, these tedious details could be dispensed with. "Low doc" and "no doc" loans have proliferated. One mortgage provider, HCL Finance, advertises itself as the "home of the 'no doc' loan." Among the products listed on its Web site is the NINJA loan: Even borrowers with "No Income, No Job and No Assets" are welcome to apply.

2007 February 1, Edward Chancellor, “Ponzi nation”, in Institutional Investor:

No competent banker would make a NINJA loan unless he was faced with a Governmental Carrot, a Governmental Stick, or a combination of both.

2008, FL Turbo, “OT - Do you really think you can trust Bush?”, in rec.gambling.poker (Usenet):

The NINA loan is the basis for the apocryphal “NINJA” loan that is often used as an example of excesses in the boom-era mortgage market. NINJA supposedly stood for “no-income, no job, no assets,” but no such loan ever existed. Also, the NINA code, which did exist, did not signify a loan to a borrower with no income. Rather, the code signified that the lender had no information about the borrower’s income.

2012 May, Christopher L. Foote, Kristopher S. Gerardi, Paul S. Willen, “Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis”, in Atlanta Fed Working Papers, Working Paper 2012-7, archived from the original on 2012-10-19, page 19n:

(finance, business) A subprime loan issued to borrowers with no job, income, or assets.


high probability trade

en-noun

high probability trade (plural high probability trades)

(finance) In investment banking, any deal or transaction with a high degree of likelihood of success.


smart money

First, we will try to understand the market using a simplified model focusing on the psychological perspective of two major groups: the smart money players who are assumed to be driving the market, and the general, uninformed public.

2012, Adam Grimes, The Art and Science of Technical Analysis, John Wiley & Sons, →ISBN, page 32:

If the smart money is so smart, why did it tell you what it's doing? If you're smart enough to know what the smart money thinks, then why aren't you keeping it a secret so you can cash in on it all by yourself?

2015, Jason Zweig, “smart money”, in The Devil's Financial Dictionary, PublicAffairs, →ISBN:

(collective, finance) Experienced, well-informed investors, gamblers, etc. considered as a group.


nonprime

Nonprime, sometimes called "near-prime," obligors usually have good credit histories marked by a few default payments.

2005, Frank J. Fabozzi, The Handbook of Fixed Income Securities, →ISBN, page 649:

(finance) Providing credit to borrowers that are more likely to default due to a poor credit history or other problems.


nonbanking

The nonbanking activities of banks are strictly regulated.


minibond

From mini- + bond. The sense "credit-linked note" derives from the brand name Minibond, under which these were marketed by Lehman Brothers prior to the fall of 2008.

The Hong Kong Association of Banks confirmed that the association has stopped buying back Lehman Brothers' minibonds as the legal risk keeps increasing.

2008 December 5, “HKAB stops minibond buybacks”, in Hong Kong Standard:

(finance, chiefly East Asia) A credit-linked note.

Failing that, consideration would have to be given this fall to a minibond to address short term needs.

2000 July 7, Barry M. Siegel, “New School Board Members Upbeat”, in Port Washington News, archived from the original on 2009-01-09:

(finance) A relatively small bond issue.


installment loan

installment loan (plural installment loans)

(banking, finance) A loan that is repaid over time with a set number of regularly scheduled payments, and may or may not include a balloon payment.


servicer

The servicer is responsible for the collection of interest and principal, which is passed along to the trustee.

2002, Frank J. Fabozzi, The Handbook of Financial Instruments, page 373:

(law, finance) One who services a loan or other obligation, by collecting receivables and carrying out related actions such as enforcement


last in first out

(accounting, computing, business) Of or pertaining to any situation where the last to arrive is the first to go, or a data structure where the most recently added item is the first to be retrieved.

viimeksi sisään ensin ulos

of a situation where the last to arrive is the first to go


redefault

The rate of redefaults has been rising.

(finance) A default on a mortgage which has already been modified due to borrower hardship


collateralized debt obligation

collateralized debt obligation (plural collateralized debt obligations)

collateralized debt obligations (plural)

(finance) A type of asset-backed security and structured credit product constructed from a portfolio of fixed-income assets.


mortgage-backed security

mortgage-backed security (plural mortgage-backed securities)

(finance) An asset-backed security whose cash flows are backed by the principal and interest payments of a set of mortgage loans.

hüpoteegiga tagatud väärtpaber

an asset-backed security whose cash flows are backed by the principal and interest of a set of mortgage loans


overleverage

en-verb

overleverage (third-person singular simple present overleverages, present participle overleveraging, simple past and past participle overleveraged)

overleverages (present singular third-person)
overleveraging (participle present)
overleveraged (participle past)
overleveraged (past)

The company was severely overleveraged.

“Yes, there was overleveraging in the industry.

2009 January 20, John Collins Rudolf, “Banks Foreclose on Builders With Perfect Records”, in New York Times:


steels

(financial) stocks or stock quotations concerning steel-manufacturing companies


futures contract

en-noun

futures contract (plural futures contracts)

He led the way with futures contracts (by which buyer and seller fix a price, immune from market fluctuations, for commodities that do not even exist at the time, such as crops yet to be sown) when these were exotic financial instruments few had hitherto tried.

2022, Hernan Diaz, Trust, Picador (2023), page 139:

(finance) A standardized contract, traded on a futures exchange, to buy or sell a standardized quantity of a specified commodity (or financial instrument) of standardized quality at a certain date in the future, at a stated price (the futures price).


GSE

GSE (countable and uncountable, plural GSEs)

By buying tranches in NC2 and similar entities, the GSEs helped fuel private-label securitization.

2020, Katharina Pistor, “4: Minting Debt”, in The Code of Capital […] , Princeton University Press, →ISBN:

government-sponsored enterprise
w:government-sponsored enterprise

(US, finance) Initialism of government-sponsored enterprise.


conditionality

conditionality (countable and uncountable, plural conditionalities)

absoluteness

antonym(s) of “state of being subject to conditions”

(countable, economics, finance) A condition applied to the access of a government to credit facilities and other international financial assistance, especially from the IMF and the World Bank.


noncash

Coca-Cola Enterprises took a $2.9 billion noncash charge in the fourth quarter to account for the diminished book value of its North American franchises.

2007 February 25, Mark A. Stein, “Sharing the Pain in Different Ways”, in New York Times:


unvested

Including unvested stock options, which increase the value of a deal, the companies put the transaction at $4.1 billion.

2007 May 8, The Associated Press, “Merger Activity Helps Large Companies Close Higher”, in New York Times:

(finance) Not vested: not free of contingencies


toxic debt

toxic debt (countable and uncountable, plural toxic debts)

This means the providers of the funds are basically swapping good, solid cash for potentially toxic debt.

2005 February 15, Anthony Hilton, “Debt Game's Winners and Losers”, in Evening Standard:

(finance) Debt that is acquired through normal financial transactions which later proves to have little or no actual value.


NINJA

(finance) Initialism of no income, no job or assets, describing credit characteristics of a borrower, usually of a residential mortgage.


FICO

Fifteen hundred dollars stolen through the extortion exerted through the credit bureaus and the FICO nonsense. This is not theft by deception, this is robbery in broad daylight.

2008, Robert Steele, Fico Is a Four Letter Word, →ISBN:

In addition to these variations of FICO Scores, each credit reporting agency also offers its own proprietary credit scoring model and makes their own credit scores available to consumers as well as creditors and lenders.

2009, Jason R. Rich, Complete Book of Dirty Little Secrets From the Credit Bureaus, →ISBN:

In my view then Voodoo FICO credit scoring had to go and common sense had to move back in.

2010, William Kirkendale, The FICO Hoax: Secrets Revealed, →ISBN, page 1:

Fair Isaac Corporation
w:Fair Isaac Corporation

(finance) Acronym of Fair Isaac Corporation, the first corporation to introduce credit scores.


supervoting

LL-Q1860 (eng)-Flame, not lame-supervoting.wav

The Ochs-Sulzberger family owns about a 19 per cent equity stake in the company and controls it through a special class of supervoting shares.

2009 January 21, “New York Times gets Mexican bailout”, in Toronto Star:

(law, finance) Having greater than normal voting rights.


credit score

(finance) A measure of credit risk, usually for a consumer, calculated from credit information using a standardized formula.

信用分數 /信用分数

measure of credit risk usually for a consumer


Value at Risk

(finance, banking) A widely used measure of the risk of loss on a specific portfolio of financial assets. For a given portfolio, probability and time horizon, VaR is a threshold value such that the probability that the mark-to-market loss on the portfolio over the given time horizon exceeds this value (assuming normal markets and no trading) is the given probability level.


VaR

VaR (countable and uncountable, plural VaRs)

(finance, banking) Acronym of value at risk.


mark-to-market

mark-to-market (countable and uncountable, plural mark-to-markets)

Mark-to-market is the calculation that shows your unrealized P&L based on where you could close your open positions in the market at that instant.

2011, Mark Galant, Brian Dolan, Currency Trading For Dummies, John Wiley & Sons, →ISBN, page 52:

The only mark-to-market thing in politics is Election Day; everything else is hot air.

2018, Mike Murphy, “Interview with Bill Kristol”, in Conversations with Bill Kristol:

(finance, accounting, chiefly attributive) Assigning a value to an asset equal to the current market price of the asset or one calculated based on related standardised assets for which there is a market.


zombie bank

First used in reference to the Asian Financial Crisis of 1997, possibly coined by economist Edward Kane.

But governments and central banks vouched for the zombie banks, which were able to keep borrowing dollars from banks in other countries.

1997 December 30, Martin Mayer, “Why Secrecy is Bad for Banking”, in Wall Street Journal:

(finance, banking, derogatory) A bank that is insolvent but is sustained by government intervention.


nonmortgage

Consumer credit, or nonmortgage loans to individuals, increased about $12.3 billion during the month, to $2.39 trillion, after a $1.3 billion decrease in October, the Federal Reserve said yesterday.

2007 January 9, Bloomberg News, “Borrowing Rose in November”, in New York Times:


undercapitalization

LL-Q1860 (eng)-Flame, not lame-undercapitalization.wav

Most businesses die from undercapitalization, and we had access to a lot of cash.

1988 April 1, Michael Miner, “Publish and Perish/Quiet Diplomacy”, in Chicago Reader:


unexercised

Shelby W. Bonnie, the former chief executive, agreed to reprice 700,000 unexercised shares, the company said yesterday in a statement.

2007 January 30, Bloomberg News, “CNet Restatement Goes Back to 1996”, in New York Times:

(finance, law) Not having been exercised


noteholder

9 per cent of Centro's existing issued securities were to be issued in mid-January to its 23 financiers, comprising Australian banks and US private placement noteholders, on a pro rata basis at market value.

2009 January 15, “Centro in trading halt pending announcement”, in Herald Sun:

(finance) An entity holding a note, such as a promissory note.


convertible security

convertible security (plural convertible securities)

(finance) A security that can be converted into another security.


ABCP

ABCP (usually uncountable, plural ABCPs)

commercial paper
commercial paper#English

(finance) Initialism of asset-backed commercial paper.


investable

en-adj

investable (comparative more investable, superlative most investable)

more investable (comparative)
most investable (superlative)

So when Prince & Associates, a market research firm in Redding, Conn., polled people with more than $1 million in investable assets, it wasn’t any great surprise that 81 percent intended to take money out of the hands of their financial advisers.

2009 February 26, Ron Lieber, “Rules for the New Reality”, in New York Times:

(finance) Able to be invested; ready for investment; liquid.


zero-coupon note

en-noun

zero-coupon note (plural zero-coupon notes)

(finance) A promissory note that pays at maturity the value of the note with no separate interest payments, the effective interest arising from the discounted purchase price.


mark to market

en-verb

mark to market (third-person singular simple present marks to market, present participle marking to market, simple past and past participle marked to market)

marks to market (present singular third-person)
marking to market (participle present)
marked to market (participle past)
marked to market (past)

(accounting, finance) To value an asset at its current actual or estimated market price.


unitholder

Its portfolios have returned more than 20 percent a year after fees for two decades, and those fees — which produce the profits that unitholders have a stake in — have been ample.

2007 July 7, Conrad De Aenlle, “Some Experts at Timing Go for Cash”, in New York Times:

(finance) An owner of a beneficial interest ("unit") in a financial entity such as an investment trust.


debtholder

(finance) An owner of a financial obligation of another party.


debtor in possession

en-noun

debtor in possession (plural debtors in possession)

(finance, law, US) A natural person or corporation that has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. Such a business may continue to operate its business under Chapter 11 bankruptcy protection.


stockholding

And as he awaits his official retirement next month, Mr. Prince can rest assured that he will leave with $68 million, including his salary and accumulated stockholdings; a $1.7 million pension; an office, car and driver for up to five years all in addition to the bonus.

2007 November 12, Eric Dash, “For Ousted Citigroup Chief, a Bonus of $12.5 Million”, in New York Times:

(finance) An ownership interest in one or more companies' stock.


call value

The 2020s sell at 104 and have a good yield, but are callable in 2010 with a call value of 103.

(finance) The amount that must be paid by the issuer to a bondholder to call the bond before its maturity.


regular dividend

regular dividend (plural regular dividends)

(finance) A dividend on common stock that is intended to be paid periodically in equal amounts over the course of a year, typically quarterly, after being declared by the issuer of the stock.


common stock

common stock (countable and uncountable, plural common stocks)

Common stocks are trading below preferreds in these bad times.

The company's common stock is a bargain.

(finance) Shares of an ownership interest in the equity of a corporation or other entity with limited liability entitled to dividends, with financial rights junior to preferred stock and liabilities.

stamaktie

share of ownership, junior to preferred stock


preferred stock

preferred stock (plural preferred stocks)

(finance) Stock with a dividend, usually fixed, that is paid out of profits before any dividend can be paid on common stock and that has priority to common stock in liquidation.


puttable

Coordinate term: callable

(finance) Having the right to be sold at a predetermined price.


midcap

“You could’ve gone down to midcap stocks,” said Bruce T. Herring, group chief investment officer overseeing Fidelity Blue Chip Growth, the largest fund on the list.

2007 April 8, Tim Gray, “Yes, It’s a 7-Year Streak, but No, They’re Not Bragging”, in New York Times:

(finance) Having medium market capitalization, often defined as between 2 and 10 billion US dollars


midcap

(finance) A stock with medium market capitalization.


unpledged

With no unpledged assets and low profitability, the business could get no further financing.


rephasing

rephasing (countable and uncountable, plural rephasings)

From rephase + -ing. The noun follows from the verb.

Early in 1993, ATN [[[w:Atlantic Tele-Network|Atlantic Tele-Network]]] requested and obtained from the GOG [Government of Guyana] a rephasing of the programme. ATN made this request on the basis of suppliers’ delays, and theft and willful destruction of property locally. Thus, whereas the scope of agreed works remains unchanged, the time frames are no longer applicable. At least one implication of this rephasing is clear: at minimum, there must result a postponement of some of the benefits expected from the divestiture.

1998, Gene O. Evelyn, “The Divestiture of the Guyana Telecommunications Corporation”, in Deryck R. Brown (editor), Evaluation, Learning and Caribbean Development, Canoe Press, page 430

In addition, the [Executive] Board [of the International Monetary Fund] also approved a rephasing of the country's future disbursements into five equal amounts of SDR 27.6 million (about US$40.7 million).

2005 June 9, “IMF Executive Board Completes Second Review Under Peru’s Stand-By Arrangement”, International Monetary Fund Press Release No. 05/137, reproduced in IMF Country Report No. 07/110 (2007 March)

The Estimate shows a £20m increase in grants to the compensation Agency as a result of rephasing of non-cash provisions from 2009-10 and 2010-11 into 2008-09 (Estimate, p 381). ¶ […] No, this additional funding in 2008-09 is not treated as a call on the Reserve. It is a rephasing of the Agency’s CSR07 budget within the existing total.

2009, House of Commons, Northern Ireland Affairs Committee: HC 90 The Work of the Committee in Session 2008–09, →ISBN, page 35:

(economics, finance) A rescheduling; especially, a rescheduling of debt repayments or other obligations.


mark to model

(accounting) A valuation or valuation method that assigns a value to an asset based on a model of its value.


mark to model

en-verb

mark to model (third-person singular simple present marks to model, present participle marking to model, simple past and past participle marked to model)

marks to model (present singular third-person)
marking to model (participle present)
marked to model (participle past)
marked to model (past)

One of the ways to mark to model corporates is through bond equivalence using Macauley's algorithm for duration.

2002, Dimitris N. Chorafas, Liabilities, Liquidity, and Cash Management: Balancing Financial Risks, page 259:

(accounting) To value an asset at a modeled estimate of its market value or of some other approved valuation.


gamma decay

en-noun

gamma decay (countable and uncountable, plural gamma decays)

(finance, uncountable) A third-order measure of derivative price sensitivity, expressed as the rate of change of gamma with respect to time, or equivalently the rate of change of charm with respect to changes in the underlying asset price.


credit report

(finance) A document of the history and current status of a borrower's credit standing, which may include identifying information, credit information, public records information, recent inquiries and credit score.