Super Finance Glossary
Over 10,000 financial glossary terms...
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Adjustable-rate Preferred Stock (ARPS)
Definition: Publicly traded issues that may be collateralized by mortgages and MBS
Definition: Publicly traded issues that may be collateralized by mortgages and MBS
Adjusted Balance Method
Definition: Method of calculating finance charges that uses the account balance remaining after adjusting for all transactions posted during the given billing period as its basis. Related: Average daily balance method, previous balance method, past due balance method.
Definition: Method of calculating finance charges that uses the account balance remaining after adjusting for all transactions posted during the given billing period as its basis. Related: Average daily balance method, previous balance method, past due balance method.
Adjusted Basis
Definition: Price from which to calculate and derive capital gains or losses upon sale of an asset. Account actions such as any stock splits that have occurred since the initial purchase must be accounted for.
Definition: Price from which to calculate and derive capital gains or losses upon sale of an asset. Account actions such as any stock splits that have occurred since the initial purchase must be accounted for.
Adjusted Debit Balance (ADB)
Definition: The account balance for a margin account that is calculated by combining the balance owed to a broker with any outstanding balance in the special miscellaneous account, and any paper profits on short accounts.
Definition: The account balance for a margin account that is calculated by combining the balance owed to a broker with any outstanding balance in the special miscellaneous account, and any paper profits on short accounts.
Adjusted Exercise Price
Definition: Term used in options on Ginnie Mae (Government National Mortgage Association) contracts. The final exercise price of the option accounts for the coupon rates carried on Ginnie Mae mortgages. For example, if the standard GNMA mortgage has an 9% yield, the price of GNMA pools with 13% mortgages in them is altered so that the investor receives the same yield.
Definition: Term used in options on Ginnie Mae (Government National Mortgage Association) contracts. The final exercise price of the option accounts for the coupon rates carried on Ginnie Mae mortgages. For example, if the standard GNMA mortgage has an 9% yield, the price of GNMA pools with 13% mortgages in them is altered so that the investor receives the same yield.
Adjusted Gross Income
Definition: Gross income reduced by certain amounts, such as a deductible IRA contribution or student loan interest.
Definition: Gross income reduced by certain amounts, such as a deductible IRA contribution or student loan interest.
Adjusted Gross Income (AGI)
Definition: Gross income less allowable adjustments, which is the income on which an individual is taxed by the federal government.
Definition: Gross income less allowable adjustments, which is the income on which an individual is taxed by the federal government.
Adjusted Present Value (APV)
Definition: The net present value analysis of an asset if financed solely by equity (present value of unlevered cash flows), plus the present value of any financing decisions (levered cash flows). In other words, the various tax shields provided by the deductibility of interest and the benefits of other investment tax credits are calculated separately. This analysis is often used for highly leveraged transactions such as a leveraged buyout.
Definition: The net present value analysis of an asset if financed solely by equity (present value of unlevered cash flows), plus the present value of any financing decisions (levered cash flows). In other words, the various tax shields provided by the deductibility of interest and the benefits of other investment tax credits are calculated separately. This analysis is often used for highly leveraged transactions such as a leveraged buyout.
Adjustment Bond
Definition: A bond issued in exchange for outstanding bonds when a corporation facing bankruptcy is recapitalized.
Definition: A bond issued in exchange for outstanding bonds when a corporation facing bankruptcy is recapitalized.
Administration Expense
Definition: Ordinary and necessary expenses of trust management that typically are allowable under irc section 212, such as fiduciary fees, accounting fees, and fees relating to maintaining trust property. Does not include costs incurred in creating a trust. Administration expenses for sham trusts would not be considered ordinary and necessary and should not be allowed as an irc section 162 or irc section 212 expense, but are non-deductible personal expenses.
Definition: Ordinary and necessary expenses of trust management that typically are allowable under irc section 212, such as fiduciary fees, accounting fees, and fees relating to maintaining trust property. Does not include costs incurred in creating a trust. Administration expenses for sham trusts would not be considered ordinary and necessary and should not be allowed as an irc section 162 or irc section 212 expense, but are non-deductible personal expenses.
Administrative Pricing Rules
Definition: IRS rules used to allocate income on export sales to a foreign sales corporation.
Definition: IRS rules used to allocate income on export sales to a foreign sales corporation.
Advance
Definition: Increase in the market price of stocks, bonds, commodities, or other assets.
Definition: Increase in the market price of stocks, bonds, commodities, or other assets.
Advance Commitment
Definition: A promise to sell an asset before the seller has lined up purchase of the asset. This seller can offset risk by purchasing a futures contract to fix the sales price approximately.
Definition: A promise to sell an asset before the seller has lined up purchase of the asset. This seller can offset risk by purchasing a futures contract to fix the sales price approximately.
Advance Computerized Execution System (ACES)
Definition: Refers to the Advance Computerized Execution System, run by Nasdaq. ACES automates trades between order entry and market maker firms that have established trading relationships with each other. Securities are designated as specified for automatic execution.
Definition: Refers to the Advance Computerized Execution System, run by Nasdaq. ACES automates trades between order entry and market maker firms that have established trading relationships with each other. Securities are designated as specified for automatic execution.
Advance Dividend
Definition: A payment made to an uninsured depositor after a bank or thrift failure. The amount of the advance dividend represents the FDIC's conservative estimate of the ultimate value of the receivership. Cash dividends equivalent to the board-approved advance dividend percentage (of total outstanding deposit claims) are paid to uninsured depositors, thereby giving them an immediate return of a portion of their uninsured deposit. Sometimes when it is projected that all depositor claims will be paid in full an advance dividend will be provided to unsecured creditors.
Definition: A payment made to an uninsured depositor after a bank or thrift failure. The amount of the advance dividend represents the FDIC's conservative estimate of the ultimate value of the receivership. Cash dividends equivalent to the board-approved advance dividend percentage (of total outstanding deposit claims) are paid to uninsured depositors, thereby giving them an immediate return of a portion of their uninsured deposit. Sometimes when it is projected that all depositor claims will be paid in full an advance dividend will be provided to unsecured creditors.
Advance Funded Pension Plan
Definition: A pension plan in which funds are set aside in advance of the date of retirement.
Definition: A pension plan in which funds are set aside in advance of the date of retirement.
Advance Refunding
Definition: In the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the first call date of old bonds (the issue to be refunded). The refunding issue usually specifies a rate lower than the issue to be refunded, and the proceeds are invested, usually in government securities, until the higher-rate bonds become callable. See: Refunding escrow deposits.
Definition: In the context of municipal bonds, refers to the sale of new bonds (the refunding issue) before the first call date of old bonds (the issue to be refunded). The refunding issue usually specifies a rate lower than the issue to be refunded, and the proceeds are invested, usually in government securities, until the higher-rate bonds become callable. See: Refunding escrow deposits.
Advancement
Definition: Money or property given to a person by the deceased before death and intended as an advance against the beneficiary's share in the will.
Definition: Money or property given to a person by the deceased before death and intended as an advance against the beneficiary's share in the will.
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