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See how Citi is taking steps to help mitigate the effects of the pandemic, from helping clients to providing relief through funds to frontline healthcare workers, organizations such as No Kid Hungry and more. Despite the pandemic limiting options for group events, Citi was determined to do our part through meaningful volunteerism. The Citi Plex Account is a new digital checking and savings account built to make managing money simpler, smarter and more rewarding. Community Development Financial Institutions do more than provide capital, they level the playing field for communities and populations at risk of being left behind. Market attention has focused on the bearish potential return of the U.

Policyholder surplus investopedia forex origin dividend reinvestment plan history of soccer

Policyholder surplus investopedia forex

They tend to be perpetual in design. Their liability is usually an annual spending commitment as a percentage of the market value of assets. The long-term nature of these arrangements often leads to a more aggressive investment allocation meant to outpace inflation, grow the portfolio, and support and sustain a specific spending policy.

Taxes and risk preferences will frame the asset allocation and risk management process that determines the appropriate asset allocation to meet these liabilities. Moreover, multi-national companies might hedge the risks of currency losses through the foreign exchange market in order to ensure they have a better forecast for managing assets vs. Fixed Income Essentials. Financial Statements. Financial Advisor.

Your Money. Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. The Banking Industry. Insurance Companies. The Benefit Plan. Wealth Management. The Bottom Line. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Related Articles. Insurance Insurance Companies vs. Banks: What's the Difference?

Financial Statements Analyzing a bank's financial statements. Partner Links. Related Terms Liability Management Definition Liability management is the use of customer deposits and borrowed money by banks to facilitate lending while maintaining healthy balance sheets.

At maturity, some of the best- and worst-performing stocks are removed from this group of underlying securities, at which point the payout is calculated on the remainder of the securities. The controllable characteristics of a retail space that entice a customer to enter the store, and which are designed to influence a customer's mood so as to increase the odds of a purchase being made.

Atmospherics include the store's layout, noise level, temperature, lighting and decorations. They are designed to set the store apart from its competitors in a positive way. It is part of an overall companies branding and image. An audit is an objective examination and evaluation of the financial statements of an organization to make sure that the records are a fair and accurate representation of the transactions they claim to represent.

It can be done internally by employees of the organization, or externally by an outside firm. When an audit is being preformed by the IRS, it usually carries a negative connotation and is seen as evidence of some type of wrongdoing by the taxpayer. The information collected for review of a company's financial transactions, internal control practices, and other factors necessary for the certification of financial statements by a certified public accountant. The amount and type of auditing evidence considered varies considerably based on the type of firm being audited as well as the required scope of the audit.

A slang term for an uneducated or unsophisticated investor. The term is considered a derogatory remark in the financial sector, often used to refer to poor investment choices. A state of reduced spending and increased frugality in the financial sector. Austerity measures generally refer to the measures taken by governments to reduce expenditures in an attempt to shrink their growing budget deficits.

The secondary tranche in a commercial mortgage-backed security. They have a lower credit rating than a class A notes, but a higher credit rating than a class C notes. The financed property serves as collateral for a B note.

B-notes are also known as a class B note. Abbreviation of business school, an educational institution that focuses on teaching business-related courses. While business schools may offer courses ranging from undergraduate degrees to postdoctoral programs, their prime offering is the Master of Business Administration MBA program.

Top-tier business schools are usually renowned for the high quality of their graduates, many of whom climb the corporate ladder steadily to eventually become among the highest ranking executives in their organizations. Shares in companies based in mainland China that trade on either the Shanghai or Shenzhen stock exchanges.

B-Shares are eligible for foreign investment provided the investment account is in the proper currency Shanghai B-shares trade in U. Bank Comfort Letter is a letter issued by the Buyer's Bank, on their letterhead, attesting the Buyer's financial capability availability of funds for the consummation of the proposed business transaction. Also known as Confirmation of Funds Certificate. Bank Guarantee - A guarantee from a lending institution ensuring that the liabilities of a debtor the Client will be met.

In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee enables the customer the client to acquire goods, buy equipment, or draw down loans, and thereby expand business activity. The BRIC are both the fastest growing and largest emerging markets economies.

They account for almost three billion people, or just under half of the total population of the world. Slang that refers to the purchase of a large position in a stock or other financial asset by an investor or trader. Typically, when someone is willing to back up the truck on a financial asset, this implies that they're extremely bullish on that asset's performance.

An uncommon type of takeover in which the acquirer becomes a subsidiary of the acquired or targeted company, with business after the takeover conducted in the name of the acquired company. A backflip takeover gets its name from the fact that it runs counter to the norm of a conventional acquisition, where the acquirer is the surviving entity and the acquired company becomes a subsidiary of the acquirer.

While the acquired company's assets are subsumed into the acquiring company, control of the combined entity is generally in the hands of the acquirer. Backward integration is a form of vertical integration that involves the purchase of, or merger with, suppliers up the supply chain. Companies pursue backward integration when it is expected to result in improved efficiency and cost savings. For example, this type of integration might cut transportation costs, improve profit margins and make the firm more competitive.

An informal investment term used to describe an investor who holds a position in a stock which decreases in value until it is worthless. Typically, the bag holder will hold the position for an extended period of time in which most of the investment is lost. Any person in charge of organizing, collecting and transporting money, generally in connection with illegal or illicit activities.

A bag man is someone who collects and delivers money on behalf of a boss or organization. Nowadays, bag man can be used pejoratively to describe an individual who is in charge of collecting and delivering contributions to political parties or funds gathered for political purposes. Arriving in bagel land is usually the result of one or more major business problems that may not be resolvable.

This term is typically used to describe an asset that has fallen from grace as opposed to a penny stock or other historically cheap security. A written promise signed by a defendant and surety to ensure that a criminal defendant will appear in court at the scheduled time and date as ordered by the court. The bail amount is set by the court. The process starts with a defendant being released on bail, the bail is paid by a surety bail bond agent or bondsman who usually collects a percentage of the amount of bail.

In order to pay the bail so that the defendant can be released while they await trial on criminal charges, the agent might require collateral in the form of valuable property, securities or a statement of creditworthiness. The contractual transfer of possession of assets or property for a specific objective. In bailment, the deliverer of the asset is the bailor, and the receiver is the bailee. In a bailment transaction, ownership is never transferred, and the bailor is generally not entitled to use the property while it's in possession of the bailee.

In these ways, bailment differs from gifting and leasing. A scenario in which a government or profitable company acquires control of a financially unstable company with the goal of returning it to a position of financial strength. In a bailout takeover, the government or strong company takes over the weak company by purchasing its shares, exchanging shares or both. The acquiring entity develops a rehabilitation plan for the weak company, describing how it will be managed and by whom, how shareholders will be protected and how its financial position will be turned around.

Projections, expectations and other news items that are already reflected in a security's price. As a phrase, "baked in the cake" is used to indicate that something has already been taken into account, and that an investor just learning of the news is unlikely to be at an advantage by acting on it.

A balance sheet is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by shareholders. A portfolio allocation and management method aimed at balancing risk and return. Such portfolios are generally divided equally between equities and fixed-income securities.

Money placed into a banking institution for safekeeping. Bank deposits are made to deposit accounts at a banking institution, such as savings accounts, checking accounts and money market accounts. The account holder has the right to withdraw any deposited funds, as set forth in the terms and conditions of the account. The "deposit" itself is a liability owed by the bank to the depositor the person or entity that made the deposit , and refers to this liability rather than to the actual funds that are deposited.

A type of check where the payment is guaranteed to be available by issuing bank. Typically, banks will review the bank draft requester's account to see if sufficient funds are available for the check to clear. Once it has been confirmed that sufficient funds are available, the bank effectively sets aside the funds from the person's account to be given out when the bank draft is used.

An international organization fostering the cooperation of central banks and international monetary policy makers. Established in , it is the oldest international financial organization, and was created to administer the transaction of monies according to the Treaty of Versailles. Among others, its main goals are to promote information sharing and to be a key center for economic research.

A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. Bank Guarantees are issued by international lending institutions and used as a line of credit to accomplish a multiplicity of tasks. Bank Guarantees are generally issued for 1 year and 1 day, with optional renewal periods. It may be possible to get it for a shorter period of time. A bank holiday is a business day during which financial institutions are closed.

Bank holidays are most relevant for physical branch locations because many online banking services continue to operate. A type of taxation system on financial institutions, in which banks are forced to pay government taxes over and above any normal corporate taxes they may incur. This is done in order to maintain financial discipline and prevent outlandish spending, bonuses or possible overly risky behavior.

Bank levies are generally viewed as punishment to financial institutions. When a bank account is frozen due to a creditor trying to get the debtor to repay its debt. A bank levy can occur due to either unpaid taxes or unpaid debt. The IRS usually uses this method the most, but other creditors can use this method as well. A fidelity bond purchased from an insurance broker that protects a bank against losses from a variety of criminal acts carried out by employees. Some states require blanket bond coverage as a condition of operating a bank.

Also known as a blanket fidelity bond. A style of chart used by some technical analysts, on which, as illustrated below, the top of the vertical line indicates the highest price a security traded at during the day, and the bottom represents the lowest price. The closing price is displayed on the right side of the bar, and the opening price is shown on the left side of the bar.

A single bar like the one below represents one day of trading. Also known as "Black Monday". A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. A barefoot pilgrim is someone who has taken on more risk than necessary or entered investments carelessly, without doing the proper research. An option in a lease agreement that allows the lessee to purchase the leased asset at the end of the lease period at a price substantially below its fair market value.

The bargain purchase option is one of four criteria, any one of which, if satisfied, would require the lease to be classified as a capital or financing lease that must be disclosed on the lessee's balance sheet. The objective of this classification is to prevent "off-balance sheet" financing by the lessee. A term used to summarize the amount of energy that is equivalent to the amount of energy found in a barrel of crude oil. There are 42 gallons approximately liters in one barrel of oil, which will contain approximately 5.

Also known as crude oil equivalent COE. The term 'base year' refers to the first of a series of years in an economic or financial index. It is normally set to an arbitrary level of Any year can be chosen as a base year, but typically recent years are chosen. New, more up-to-date base years are periodically introduced to keep data current in a particular index.

The purpose of the accords is to ensure that financial institutions have enough capital on account to meet obligations and absorb unexpected losses. A set of international banking regulations put forth by the Basel Committee on Bank Supervision, which set out the minimum capital requirements of financial institutions with the goal of minimizing credit risk.

The first accord was the Basel I. It was issued in and focused mainly on credit risk by creating a bank asset classification system. A set of banking regulations put forth by the Basel Committee on Bank Supervision, which regulates finance and banking internationally. Basel II attempts to integrate Basel capital standards with national regulations, by setting the minimum capital requirements of financial institutions with the goal of ensuring institution liquidity.

A comprehensive set of reform measures designed to improve the regulation, supervision and risk management within the banking sector. The Basel Committee on Banking Supervision published the first version of Basel III in late , giving banks approximately three years to satisfy all requirements. Largely in response to the credit crisis, banks are required to maintain proper leverage ratios and meet certain capital requirements. Basis point BPS refer to a common unit of measure for interest rates and other percentages in finance.

A yield-rate environment in which short-term interest rates are increasing at a faster rate than long-term interest rates. This causes the yield curve to flatten as short-term and long-term rates start to converge. An offer made by one company to buy the shares of another for a much higher per-share price than what that company is worth. A bear hug offer is usually made when there is doubt that the target company's management will be willing to sell.

A market condition in which the prices of securities are falling, and widespread pessimism causes the negative sentiment to be self-sustaining. As investors anticipate losses in a bear market and selling continues, pessimism only grows. An international trading policy that utilizes currency devaluations and protective barriers to alleviate a nation's economic difficulties at the expense of other countries.

While the policy may help repair an economic hardship in the nation, it will harm the country's trading partners, worsening its economic status. It is published just before the FOMC meeting on interest rates and is used to inform the members on changes in the economy since the last meeting. An event or indicator that shows the possible presence of a trend. Bellwether companies are usually the market leaders in their respective sectors.

Housing-related programs in the that offer loans to qualified applicants at interest rates that are lower than prevailing market rates. Many cities have programs in effect that extend below market interest rate BMIR loans to individuals with limited incomes, either for buying a home or for making home improvements. In general, an advertising strategy in which a product is promoted in mediums other than radio, television, billboards, print, film and the internet. Types of below the line advertising commonly include direct mail campaigns, trade shows and catalogs; this advertising type tends to be less expensive and more focused.

A benchmark is a standard against which the performance of a security, mutual fund or investment manager can be measured. Generally, broad market and market-segment stock and bond indexes are used for this purpose. A bond that provides a standard against which the performance of other bonds can be measured.

Government bonds are almost always used as benchmark bonds. Also referred to as "benchmark issue" or "bellwether issue". Bernard Lawrence "Bernie" Madoff is an American financier who executed the largest Ponzi scheme in history, defrauding thousands of investors of tens of billions of dollars over the course of at least 17 years, and possibly longer.

He was also a pioneer in electronic trading and chair of the Nasdaq in the early s. A type of collateralized debt obligation CDO that a dealer creates for a specific group of investors. The CDO is structured according to the investor's needs. The investor group then typically buys a single tranche of the bespoke CDO.

The remaining tranches are then held by the dealer, who will usually attempt to hedge against losses. A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is used in the capital asset pricing model CAPM , a model that calculates the expected return of an asset based on its beta and expected market returns. Also known as "beta coefficient. A two-way price quotation that indicates the best price at which a security can be sold and bought at a given point in time.

The bid price represents the maximum price that a buyer or buyers are willing to pay for a security. The ask price represents the minimum price that a seller or sellers are willing to receive for the security. A trade or transaction occurs when the buyer and seller agree on a price for the security. The difference between the bid and asked prices, or the spread, is a key indicator of the liquidity of the asset - generally speaking, the smaller the spread, the better the liquidity.

Also known as bid and ask, bid-ask or bid-offer. A manipulative practice employed to prop up a company's stock price on the open market. Bid support may also refer to a substantial number of orders from different market makers on the bid side of a stock, which can signal a trader to buy the stock on the expectation that it will advance.

A third meaning of bid support refers to the services provided by accounting and consulting firms to companies making takeover bids for other firms. Bid support, as a form of market manipulation, involves multiple bids for small amounts of a particular stock being placed just below the highest bid price posted by market makers.

This has the effect of absorbing sell orders and creating an artificial floor for the stock, while giving the impression that plenty of buyers are waiting in the wings. A bid-ask spread is the amount by which the ask price exceeds the bid price for an asset in the market.

The bid-ask spread is essentially the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept to sell it. A bidding war refers to a circumstance in which two or more prospective buyers of a property compete for ownership through incrementally increasing bids. A bidding war occurs when potential buyers of a property compete for ownership through a series of increasing price bids, sometimes pushing the final price up past the original value of the property.

Similar to an auction, a bidding war often occurs at a rapid pace, meaning that during a bidding war potential buyers are vulnerable to making rash or emotional investment decisions. The simultaneous existence of inflation and deflation in an economy. Biflation, while seemingly a paradox, results when inflation in commodity assets coexists with deflation in debt-based assets.

Biflation typically occurs when a fragile economic recovery causes the central bank to open up the monetary spigots in a bid to stimulate the economy. This may result in higher prices for certain assets such as energy and precious metals, and declining prices for leveraged assets such as real estate and automobiles. The creation of the term "biflation" is attributed to analyst F. Osborne Brown, who introduced it in The splitting of something into two separate pieces. Bifurcation occurs when a company divides into two separate divisions to create two new companies and issue two new shares.

Existing shareholders before the split are given shares of the new company though a corporate re-organization. Old industrial companies in gritty industries such as mining, steel and oil and as a result, they tend to be unpopular stocks with investors. A form of sales arrangement in which a seller of a good bills a customer for products but does not ship the product until a later date.

In order for a transfer of ownership to occur, certain conditions must be met. These conditions include: payment for the goods, that the goods be segregated from all other similar goods by the seller, and that the goods be finished and ready for use. A type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money.

A decentralized digital currency that enables low-cost payments without the need for central authorities and issuers. Bitcoins can be accessed from anywhere in the world with an internet connection. Once a user has Bitcoins, they are stored in a digital wallet. Bitcoins can then be sent to anyone else who has a Bitcoin address. Bitcoin was developed in and based on the works of an individual or group of individuals known as Satoshi Nakamoto.

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.

The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. The segment of a country's economic activity that is derived from sources that fall outside of the country's rules and regulations regarding commerce. A day of stock market catastrophe. Originally, September 24, , was deemed Black Friday.

The crash was sparked by gold speculators, including Jay Gould and James Fist, who attempted to corner the gold market. The attempt failed and the gold market collapsed, causing the stock market to plummet. The day after Thanksgiving in the United States.

Retailers generally see an upward spike in sales and consider this to be the start of the holiday shopping season. It's common for retailers to offer special promotions and to open early to draw in customers. That event marked the beginning of a global stock market decline, making Black Monday one of the most notorious days in recent financial history.

An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict. This term was popularized by Nassim Nicholas Taleb, a finance professor and former Wall Street trader. Black Thursday is the name given to Thursday, Oct. More recently, "Black Thursday" is also used to refer to the Thanksgiving holiday in the United States, as more retailers open on Thanksgiving evening in a bid to get an early start on the frenzied shopping of Black Friday.

More than 16 million shares were traded in a panic selloff. A list of persons, organizations or nations suspected or convicted of fraudulent, illegal or criminal activity, and therefore excluded from a service or penalized in some other manner. A blacklist may be maintained by any entity, ranging from a small business enterprise to an inter-governmental body.

Depending on the scope of the blacklist, it may either be secret or public. A common misconception held by many people relates to the purported existence of a "credit blacklist" to deny credit facilities to consumers with poor or spotty credit histories. Since a credit blacklist as such does not exist, the reality is that creditors and lending agencies rely on the consumer's credit history rather than a blacklist to guide their loan decisions.

A blackout period is a term that refers to a temporary period in which access is limited or denied. A period of around 60 days during which employees of a company with a retirement or investment plan cannot modify their plans. Notice must be given to employees in advance of a pending blackout. A mortgage which covers two or more pieces of real estate.

The real estate is held as collateral on the mortgage, but the individual pieces of the real estate may be sold without retiring the entire mortgage. A trust in which the trustees have full discretion over the assets, and the trust beneficiaries theoretically have no knowledge of the holdings of the trust. The trustor initiates the trust and maintains the ability to terminate the trust, but otherwise exercises no control over the actions taken within the trust and receives no reports from the trustees while the blind trust is in force.

A blockchain is a public ledger of all Bitcoin note: and other crypto-currencies transactions that have ever been executed. The blocks are added to the blockchain in a linear, chronological order. Each node computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions gets a copy of the blockchain, which gets downloaded automatically upon joining the Bitcoin network.

The blockchain has complete information about the addresses and their balances right from the genesis block to the most recently completed block. A nationally recognized, well-established and financially sound company. Blue chips generally sell high-quality, widely accepted products and services.

Blue chip companies are known to weather downturns and operate profitably in the face of adverse economic conditions, which helps to contribute to their long record of stable and reliable growth. A formal gauge or measure of the performance of a selected group of blue chip securities.

Blue chip indicators act much the same way as other indicators or indices, in that they display the performance of a selected group, in this case blue chip securities, over a given period of time, or even in real time. Market observers would most likely use such blue chip indicators to gauge the performance of the most widely-owned companies in an economy.

The name "blue chip" came about because in the game of poker the blue chips have the highest value. Blue chip stocks are seen as a less volatile investment than owning shares in companies without blue chip status because blue chips have an institutional status in the economy.

Investors may buy blue chip companies to provide steady growth in their portfolios. State regulations designed to protect investors against securities fraud by requiring sellers of new issues to register their offerings and provide financial details. This allows investors to base their judgments on trustworthy data. A slang term used to describe a perfect stock or investment. In the hit movie "10", actress Bo Derek portrayed the "perfect woman", or "the perfect 10".

A group of individuals that are elected as, or elected to act as, representatives of the stockholders to establish corporate management related policies and to make decisions on major company issues. Every public company must have a board of directors. A buzzword that refers to a benchmark used to evaluate a fund's performance.

The benchmark is an index that reflects the investment scope of the funds investment. Comparing a fund's performance to a benchmark index gives investors an idea of how well the fund is doing compared to the market. Also known referred to as "bogy". To undertake an impossible task or project or to make a task or project unnecessarily difficult.

Boiling the ocean generally means to go overboard. A bond is a debt investment in which an investor loans money to an entity typically corporate or governmental which borrows the funds for a defined period of time at a variable or fixed interest rate. Bonds are used by companies, municipalities, states and sovereign governments to raise money and finance a variety of projects and activities. Owners of bonds are debtholders, or creditors, of the issuer.

A bond is a fixed income instrument that represents a loan made by an investor to a borrower typically corporate or governmental. A bond could be thought of as an I. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Bond details include the end date when the principal of the loan is due to be paid to the bond owner and usually includes the terms for variable or fixed interest payments made by the borrower.

A fund invested primarily in bonds and other debt instruments. The exact type of debt the fund invests in will depend on its focus, but investments may include government, corporate, municipal and convertible bonds, along with other debt securities like mortgage-backed securities. A strategy for managing fixed-income investments by which the investor builds a ladder by dividing his or her investment dollars evenly among bonds or CDs that mature at regular intervals such as every six months, once a year or every two years.

A bond ladder is a portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of purchasing several smaller bonds with different maturity dates rather than one large bond with a single maturity date is to minimize interest-rate risk, increase liquidity and diversify credit risk. A portfolio management strategy and model for investing in fixed income that involves purchasing multiple bonds, each with different maturity dates, in order to achieve the following goals: - Decrease interest rate risk by holding both short-term and long-term bonds, thereby spreading risk along the interest rate curve.

If rates are rising, as one bond matures the funds can be re-invested into higher yield bonds. Even if prevailing rates at the time of re-investment are lower than the previous bond was returning, the smaller amount of reinvestment dollars mitigates the risk of investing a lot of cash at a low return. A grade given to bonds that indicates their credit quality. Bond ratings are expressed as letters ranging from 'AAA', which is the highest grade, to 'C' "junk" , which is the lowest grade.

Different rating services use the same letter grades, but use various combinations of upper- and lower-case letters to differentiate themselves. Bonds are loans that investors make to corporations and governments. The corporations get the cash they need while the investors earn interest. Every bond has a fixed maturity date when the bond matures and the loan must be paid back in full, at face value. Some bonds may have a "call" feature whereby the issuer may redeem or "call" the bond prior to maturity.

The interest a bond pays is also set when the bond is issued. The rate is competitive, which means the bond pays interest comparable to what investors can earn elsewhere. As a result, the rate on a new bond is similar to current interest rates, including mortgage rates. Municipal bond rates are an exception because their yields are free from federal taxes. The three different kinds of bonds are Corporate Bonds, U.

Book value of an asset is the value at which the asset is carried on a balance sheet and calculated by taking the cost of an asset minus the accumulated depreciation. Book value is also the net asset value of a company, calculated as total assets minus intangible assets patents, goodwill and liabilities. For the initial outlay of an investment, book value may be net or gross of expenses such as trading costs, sales taxes, service charges and so on. The book-to-market ratio is a ratio used to find the value of a company by comparing the book value of a firm to its market value.

Book value is calculated by looking at the firm's historical cost, or accounting value. Market value is determined in the stock market through its market capitalization. The boomer effect refers to the influence that the generational cluster born between and has on most markets.

This term first gained traction in technology and generally referred to the importance of simplifying interfaces for consumer electronics to encourage the wealthy baby boomer generation to upgrade. The Boomer effect is sometimes called the boomer factor or the boomer shift. A situation in which an entrepreneur starts a company with little capital.

An individual is said to be boot strapping when he or she attempts to found and build a company from personal finances or from the operating revenues of the new company. Also called a border-adjusted tax, border tax adjustment or destination tax, this is a tax levied on goods based on where they are sold. Goods that are exported are exempt from tax; goods that are imported and sold in the U. A market theory that states that a white Christmas in Boston will result in rising stock prices for the following year.

An investor who looks for bargains among stocks whose prices have recently dropped dramatically. The investor believes that a price drop is temporary or is an overreaction to recent bad news and a recovery is soon to follow. A company that is growing its net earnings or reducing its costs is said to be "improving its bottom line". When the owner of a ship borrows money and uses the ship itself referring to the ship's bottom or keel as collateral.

If the ship is lost during the course of the voyage then the creditor will lose on the loan; if the ship survives, the lender will receive the principal plus interest. A small financial firm that provides specialized services for a particular segment of the market. Boutique firms are most common in the investment management or investment banking industries. These firms may specialize by industry, client asset size, banking transaction type or by other factors to address a market not well addressed by larger firms.

An asset-backed security; which uses the current and future revenue from albums recorded by musician David Bowie as collateral. The 25 albums a Bowie bond uses as their underlying assets were recorded prior to David Bowie used the proceeds from the bond sale to purchase old recordings of his music. In creating the bonds, he ultimately forfeited royalties for the life of the bond 10 years.

Bowie bonds are also known as "Pullman bonds" after David Pullman, the banker who created and sold the first Bowie bonds. A company's brand identity is how that business wants to be perceived by consumers. The components of the brand, name, logo, tone, tagline, typeface are created by the business in an attempt to reflect the value the company is trying to bring to the market and to appeal to the customers in the market where the company sells its goods.

Brand identity is separate from brand image. The BRIC thesis posits that China and India will, by , become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials. Due to lower labor and production costs, many companies also cite BRIC as a source of foreign expansion opportunity, and promising economies in which to invest.

An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even analysis calculates what is known as a margin of safety, the amount that revenues exceed the break-even point. This is the amount that revenues can fall while still staying above the break-even point. A breakup fee is a common fee used in takeover agreements if the seller backs out of a deal to sell to the purchaser. A breakup fee, or termination fee, is required to compensate the prospective purchaser for the time and resources used to facilitate the deal.

A landmark system for monetary and exchange rate management established in Major outcomes of the Bretton Woods conference included the formation of the International Monetary Fund and the International Bank for Reconstruction and Development and, most importantly, the proposed introduction of an adjustable pegged foreign exchange rate system. Currencies were pegged to gold and the IMF was given the authority to intervene when an imbalance of payments arose.

Brexit is an abbreviation of "British exit" that mirrors the term Grexit. It refers to the possibility that Britain will withdraw from the European Union. The country will hold an in-out referendum on its EU membership on June A short-term loan that is used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate cash flow.

The loans are short-term up to one year with relatively high interest rates and are backed by some form of collateral such as real estate or inventory. Also known as "interim financing", "gap financing" or a "swing loan". A bubble is an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior.

When no more investors are willing to buy at the elevated price, a massive selloff occurs, causing the bubble to deflate. A school of thought that believes that the prices of assets can temporarily rise far above their true values and that these bubbles are easily identifiable. Former Federal Reserve Chairman Alan Greenspan famously coined the term "irrational exuberance" referring to asset bubbles.

Under the bubble theory, large overvaluations of assets can persist for many years, but eventually burst, causing precipitous declines before returning to more reasonable prices. A budget is an estimation of the revenue and expenses over a specified future period of time and is compiled and re-evaluated on a periodic basis. A surplus budget means profits are anticipated, while a balanced budget means that revenues are expected to equal expenses. A deficit budget means expenses will exceed revenues.

A group of people that create and maintain a budget. In a company, this committee usually consists of the top management and the CFO. Budget committees typically review and approve departmental budgets that are submitted by the various department heads. A financial situation that occurs when an entity has more money going out than coming in.

The term "budget deficit" is most commonly used to refer to government spending rather than business or individual spending. When it refers to federal government spending, a budget deficit is also known as the "national debt. The intentional allowance for extra expenditures in a future cash flow. Budgetary slack can take one of two forms: It can either underestimate the amount of income or revenue that will come in over a given amount of time, or overestimate the expenses that are to be paid out over the same time period.

The bill that was inspired by this rule, Bill S. A slang term used to describe the company or companies who issued the largest amount of securities on a new issue in an underwriting syndicate, or who are the largest underwriting company or companies in the industry. The bulge bracket is usually the first group listed on the tombstone, which is an advertisement of a new issue.

An options strategy that involves purchasing call options at a specific strike price while also selling the same number of calls of the same asset and expiration date but at a higher strike. A bull call spread is used when a moderate rise in the price of the underlying asset is expected. The maximum profit in this strategy is the difference between the strike prices of the long and short options, less the net cost of options.

Most often, bull call spreads are vertical spreads. A bull market is the condition of a financial market of a group of securities in which prices are rising or are expected to rise. The term "bull market" is most often used to refer to the stock market but can be applied to anything that is traded, such as bonds, real estate, currencies and commodities. Because prices of securities rise and fall essentially continuously during trading, the term "bull market" is typically reserved for extended periods in which a large portion of security prices are rising.

Bull markets tend to last for months or even years. A bond issued by Germany's federal government, or the German word for "bond. Treasury bonds. The German government uses bunds to finance its spending. Long-term bonds are the most widely issued, with billions of euros'worth outstanding, and these come in and year durations. The business cycle is the fluctuation in economic activity that an economy experiences over a period of time.

A business cycle is basically defined in terms of periods of expansion or recession. During expansions, the economy is growing in real terms i. During recessions, the economy is contracting, as measured by decreases in the above indicators. Expansion is measured from the trough or bottom of the previous business cycle to the peak of the current cycle, while recession is measured from the peak to the trough.

The study of the financial issues and challenges faced by corporations. Business economics is a field in economics that deals with issues such as business organization, management, expansion and strategy. Studies might include how and why corporations expand, the impact of entrepreneurs, the interactions between corporations and the role of governments in regulation. The study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.

Business ethics are often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance. A neutral option strategy combining bull and bear spreads. Butterfly spreads use four option contracts with the same expiration but three different strike prices to create a range of prices the strategy can profit from.

The trader sells two option contracts at the middle strike price and buys one option contract at a lower strike price and one option contract at a higher strike price. Both puts and calls can be used for a butterfly spread. An order to purchase a security at or below a specified price. A buy limit order allows traders and investors to specify the price that they are willing to pay for a security, such as a stock.

By using a buy limit order, the investor is guaranteed to pay that price or better; meaning, he or she will pay the specified price or less for the purchase of the security. While the price is guaranteed, the filling of the order is not. In other words, if the specified price is never met, the order will not be filled and the investor may miss out on the trading opportunity.

A buyback, also known as a repurchase, is the purchase by a company of its outstanding shares that reduces the number of its shares on the open market. Companies buy back shares for a number of reasons, such as to increase the value of shares still available by reducing the supply of them or eliminate any threats by shareholders who may be looking for a controlling stake.

The purchase of a company's shares in which the acquiring party gains controlling interest of the targeted firm. Incorporating a buyout strategy is a common technique used to gain access to new markets and is one of the most common methods for inorganically growing a business.

A legal structure that businesses can choose to organize themselves under in order to limit their owners' legal and financial liabilities. C corporations are legally considered separate entities from their owners. In a C corporation, income is taxed at the corporate level and is taxed again when it is distributed to owners. A widely-used slang term used to collectively refer to a corporation's most important senior executives.

C-Suite gets its name because top senior executives' titles tend to start with the letter C, for chief, as in chief executive officer, chief operating officer and chief information officer. Also called "C-level executives. Cash Against Documents - A requested payment for goods, in which the goods are only delivered against payment in cash. A savings certificate entitling the bearer to receive interest.

A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. The term of a CD generally ranges from one month to five years. It is the largest central depository for private fixed-income securities and over-the-counter OTC derivatives in Latin America. Cash In Advance - Payment for goods in which the price is paid in full before shipment is made. This method of payment is normally used for small transactions, or when the goods are to be manufactured.

Cost, Insurance, and Freight - A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier. It does not include any other costs such as import fees, customs fees, etc. Collateralized Mortgage Obligations - A security collateralized with mortgage loans, normally yielding lower interests on a regular basis until its maturity, commonly traded in the financial market.

It's a fixed-rate security. A theory that seeks to explain the effect that hour news networks, such as CNN, have on the general political and economic climate. Because media outlets provide ongoing coverage of a particular event or subject matter, the attention of viewers is narrowly focused for potentially prolonged periods of time. The CNN effect can therefore cause individuals and organizations to react more aggressively towards the subject matter being examined. For example, regular coverage of turmoil in the banking sector may result in the Federal Reserve taking the necessary action to minimize any potential detrimental effects.

The [public] Debt Coordination Department. Other pricing models include cost per click CPC , where the advertiser pays each time a website visitor actually clicks on the ad, and cost per acquisition CPA , where the advertiser only pays each time a website visitor makes a purchase that can be directly traced to having clicked on that ad.

Different pricing methods are more appropriate for some ad campaigns than others. CPM makes the most sense for a campaign focused on heightening brand awareness or delivering a specific message. In this case, the CTR matters less, since the exposure from having an ad prominently placed on a high-traffic website helps promote a company's brand name or message even if visitors do not actually click on the ad.

Companies focused less on mass appeal and more on promoting a specific product to a niche audience gravitate toward CPC or CPA advertising, since they only have to pay when visitors click through to their site or purchase the products being advertised. Website publishers like CPM advertising because they get paid for simply displaying the ads. This is a common practice by the Brazilian Government and other Countries to raise cash for agricultural investment programs.

These bonds or certificates are offered at a substantial discount when compared to the regular exchange market price of agricultural product such as Soybeans, Sugar, Beans, Wheat, Yellow Corn and several other products, which are made available in the future, delivered on a monthly basis with the guarantee of the Federal Government. The delivery schedule could last for several years. Therefore, this is an appealing opportunity for investors in the international market. The majority of the investors, mainly large financial institutions, may not even be interested in the commodity, itself, but in the resulting ROI Return on Investment.

Committee on Uniform Securities Identification Procedures. Cash With Order - Payment for goods in which the Buyer pays when placing an order, and in which the transaction is binding on both parties. An employee benefit plan that allows staff to choose from a variety of benefits to formulate a plan that best suits their needs. A call feature of a Collateralized Mortgage Obligation CMO designed primarily to reduce the issuer's reinvestment risk.

If the cash flow generated by the underlying collateral is not enough to support the scheduled principal and interest payments, then the issuer is required to retire a portion of the CMO issue. A calamity call is also known as a "clean-up call. A collection of assorted theories that assert that certain days, months or times of year are subject to above-average price changes in market indexes and can therefore represent good or bad times to invest. Some theories that fall under the calendar effect include the Monday effect, the October effect, the Halloween effect and the January effect.

The word is a portmanteau meaning "California exit," which is based on similar coinages such as Grexit and Brexit. The term has come to the fore in the wake of Donald Trump's victory in the U.

A summary report of a company's annual performance that bundles the K report required by the Securities and Exchange Commission SEC with additional commentary from the company, covering such things as the corporate vision, letter to shareholders and business overview among other topics.

Live forex current quotations The total amount of funds set aside for a claim is the sum of the expected settlement amount and any expenses incurred by the insurer during the settlement process, such as fees for claims adjusters, investigators, and legal assistance. I've never looked at a blue book so can't say whether it's different for life but my assumption would be that it follows the same general rules. Investopedia is part of the Dotdash publishing family. Abbreviation of business school, an educational institution that focuses on teaching business-related courses. Life insurance tends to be a longer-term liability.
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Insurers must maintain a high enough reserve in order to meet projected liabilities. If the number and extent of filed claims exceed the estimated amount set aside in the reserve, the insurer will have to eat into its profits to pay out claims. If a number of insurers have ratios greater than what is considered acceptable, this could be an indicator that the insurers may be reaching too deep into reserves to pay out profits.

Note that these ratios can vary widely from year to year; a high ratio isn't necessarily a sign that an insurer is or will become insolvent. Life Insurance. Small Business Taxes. Corporate Insurance. Your Money. Personal Finance. Your Practice. Popular Courses. Personal Finance Insurance. Key Takeaways Loss and loss adjustment reserves to policyholders' surplus ratio is the amount of assets that an insurance company has set aside for unpaid losses. If an insurance company has too high of a ratio—usually expressed as a percentage—it can indicate trouble for the insurer; if the number and extent of filed claims exceed the estimated amount set aside in the reserve, the insurer will have to eat into its profits to pay out claims.

This ratio is in place to help regulators spot insurers who may rely too heavily on the use of reserves for covering losses. Compare Accounts. Insuranceopedia explains Statutory Surplus Insurance regulators employ a rigid accounting system for the insurance industry because it wants to protect the coverage of those who are insured. Share this:.

Related Terms. Related Articles. How do insurance companies calculate workers compensation premiums? Can an employee sue my business if I have workers comp? Do I need to get workers comp coverage for independent contractors? More of your questions answered by our Experts. Related Tags. Insurance Government Regulations. Connect with us.

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