Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "L"
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Lease-purchase Agreement
Definition: An agreement that allows for portions of lease payments to be used to purchase the leased property.
Definition: An agreement that allows for portions of lease payments to be used to purchase the leased property.
Leaseback
Definition: A transaction that involves the sales of some property, and an agreement by the seller to lease the property back from the buyer after the sale.
Definition: A transaction that involves the sales of some property, and an agreement by the seller to lease the property back from the buyer after the sale.
Least Cost Test
Definition: A procedure mandated by FDICIA that requires the FDIC to implement the resolution alternative that is determined to be least costly to the relevant deposit insurance fund of all possible resolution alternatives, including liquidation of the failed institution. Before enactment of FDICIA, the FDIC could pursue any resolution alternative, as long as it was less costly than a deposit payoff combined with liquidation of the failed bank's assets. (Also see deposit payoff)
Definition: A procedure mandated by FDICIA that requires the FDIC to implement the resolution alternative that is determined to be least costly to the relevant deposit insurance fund of all possible resolution alternatives, including liquidation of the failed institution. Before enactment of FDICIA, the FDIC could pursue any resolution alternative, as long as it was less costly than a deposit payoff combined with liquidation of the failed bank's assets. (Also see deposit payoff)
Leaves
Definition: Used in the context of general equities. Remains to buy or sell of a previously entered order after a report of partial execution has been given. If the floor broker to buy 20M IBM at $115, and he then buys 6M at this price, his report would be, "You bought 6M IBM at $115; leaves 14."
Definition: Used in the context of general equities. Remains to buy or sell of a previously entered order after a report of partial execution has been given. If the floor broker to buy 20M IBM at $115, and he then buys 6M at this price, his report would be, "You bought 6M IBM at $115; leaves 14."
Ledger Cash
Definition: A firm's cash balance as reported in its financial statements. Also called book cash.
Definition: A firm's cash balance as reported in its financial statements. Also called book cash.
Leg
Definition: A prolonged trend in stock market prices, such as a multiple-period bull market; or, an option that is one side of a spread transaction. See: Lifting a leg.
Definition: A prolonged trend in stock market prices, such as a multiple-period bull market; or, an option that is one side of a spread transaction. See: Lifting a leg.
Leg Up
Definition: Used in the context of general equities. (1)Have a portion of the offsetting side of a trade in your pocket (spoken for) so your capital risk in the transaction is reduced. (Purchase of 10,000 of a 50,000 buy order leaves the trader a "leg up".) (2) Complete one side of a two-sided transaction, as in a swap or contingency order.
Definition: Used in the context of general equities. (1)Have a portion of the offsetting side of a trade in your pocket (spoken for) so your capital risk in the transaction is reduced. (Purchase of 10,000 of a 50,000 buy order leaves the trader a "leg up".) (2) Complete one side of a two-sided transaction, as in a swap or contingency order.
LEGAL
Definition: A computerized database maintained by the NYSE to keep track of enforcement actions, audits, and complaints against member firms. This term is not an acronym but is referred to in capitals.
Definition: A computerized database maintained by the NYSE to keep track of enforcement actions, audits, and complaints against member firms. This term is not an acronym but is referred to in capitals.
Legal Bankruptcy
Definition: A legal proceeding for liquidating or reorganizating a business.
Definition: A legal proceeding for liquidating or reorganizating a business.
Legal Defeasance
Definition: The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture.
Definition: The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture.
Legal Entity
Definition: A person or organization that can legally enter into a contract, and may therefore be sued for failure to comply with the terms of the contract.
Definition: A person or organization that can legally enter into a contract, and may therefore be sued for failure to comply with the terms of the contract.
Legal Investments
Definition: Investments that a regulated entity is permitted to make under the rules and regulations that govern its conduct.
Definition: Investments that a regulated entity is permitted to make under the rules and regulations that govern its conduct.
Legal List
Definition: A list of high-quality debt and equity securities chosen by a state agency that are acceptable holdings for fiduciary institutions.
Definition: A list of high-quality debt and equity securities chosen by a state agency that are acceptable holdings for fiduciary institutions.
Legal Monopoly
Definition: A government-regulated firm that is legally entitled to be the only company offering a particular service in a particular area.
Definition: A government-regulated firm that is legally entitled to be the only company offering a particular service in a particular area.
Legal Opinion
Definition: A statement, usually written by a specialized law firm, required for a new municipal bond issue stating that the issue is legally acceptable.
Definition: A statement, usually written by a specialized law firm, required for a new municipal bond issue stating that the issue is legally acceptable.
Legal Risk
Definition: The risk associated with the impact of a defect in the documentation on cash flow or debt service.
Definition: The risk associated with the impact of a defect in the documentation on cash flow or debt service.
Legal Transfer
Definition: A stock transaction that requires special documentation in addition to standard stock or bond power to be legally valid.
Definition: A stock transaction that requires special documentation in addition to standard stock or bond power to be legally valid.
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