Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "P"
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Prime Rate
Definition: The interest rate at which banks lend to their best (prime) customers. More often than not, a bank's most creditworthy customers borrow at rates below the prime rate.
Definition: The interest rate at which banks lend to their best (prime) customers. More often than not, a bank's most creditworthy customers borrow at rates below the prime rate.
Prime Rate Fund
Definition: A mutual fund that buys portions of corporate loans from banks and pays the interest to shareholders.
Definition: A mutual fund that buys portions of corporate loans from banks and pays the interest to shareholders.
Primitive Security
Definition: An instrument such as a stock or bond for which payments depend only on the financial status of the issuer.
Definition: An instrument such as a stock or bond for which payments depend only on the financial status of the issuer.
Principal
Definition: (1) The total amount of money being borrowed or lent. (2) The party affected by agent decisions in a principal-agent relationship.
Definition: (1) The total amount of money being borrowed or lent. (2) The party affected by agent decisions in a principal-agent relationship.
Principal Amount
Definition: The face amount of debt; the amount borrowed or lent. Often called principal.
Definition: The face amount of debt; the amount borrowed or lent. Often called principal.
Principal And Interest Payment (P & I)
Definition: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to amortization of the principal balance.
Definition: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to amortization of the principal balance.
Principal Exchange-Rated-Linked Securities (PERLS)
Definition: A debt instrument with its principal and interest denominated in U.S. dollars, but with principal repayment depending on the exchange rate of the U.S. dollar against a foreign currency.
Definition: A debt instrument with its principal and interest denominated in U.S. dollars, but with principal repayment depending on the exchange rate of the U.S. dollar against a foreign currency.
Principal Finance
Definition: Usually refers to the area within an investment bank that deals with high grade fixed income. This group will not just trade bonds on the secondard market but will be actively involved in the debt financing of new projects. Many firms have Principal Finance Officers.
Definition: Usually refers to the area within an investment bank that deals with high grade fixed income. This group will not just trade bonds on the secondard market but will be actively involved in the debt financing of new projects. Many firms have Principal Finance Officers.
Principal Finance Officer
Definition: The head of an investment bank's Principal Finance division or a person that overseas the principal finance dealings of a firm. These dealings usually involve high grade bonds that are used to finance new projects for firms.
Definition: The head of an investment bank's Principal Finance division or a person that overseas the principal finance dealings of a firm. These dealings usually involve high grade bonds that are used to finance new projects for firms.
Principal Stockholder
Definition: A stockholder who owns 10% or more of the voting stock of a company. Such stockholders must report all trading in the stock to the SEC pursuant insider trading rules.
Definition: A stockholder who owns 10% or more of the voting stock of a company. Such stockholders must report all trading in the stock to the SEC pursuant insider trading rules.
Principal, Interest, Taxes, And Insurance Payment (PITI)
Definition: The periodic (typically monthly) payment required by an amortizing loan that includes escrow deposits. Each periodic payment includes a principal and interest payment plus a contribution to the escrow account set up by the lender to pay insurance premiums and property taxes on the mortgaged property.
Definition: The periodic (typically monthly) payment required by an amortizing loan that includes escrow deposits. Each periodic payment includes a principal and interest payment plus a contribution to the escrow account set up by the lender to pay insurance premiums and property taxes on the mortgaged property.
Principal-agent Relationship
Definition: Occurs when one person, an agent, acts on the behalf of another person, the principal.
Definition: Occurs when one person, an agent, acts on the behalf of another person, the principal.
Principal-only (PO)
Definition: A mortgage-backed security (MBS) whose holder receives only principal cash flows on the underlying mortgage pool. All the principal distribution due from the underlying collateral pool is paid to the registered holder of the stripped MBS on the basis of the current face value of the underlying collateral pool.
Definition: A mortgage-backed security (MBS) whose holder receives only principal cash flows on the underlying mortgage pool. All the principal distribution due from the underlying collateral pool is paid to the registered holder of the stripped MBS on the basis of the current face value of the underlying collateral pool.
Principle Of Diversification
Definition: That portfolios of different sorts of assets differently correlated with one another will have negligible unsystematic risk. In other words, unsystematic risks disappear in diversified portfolios, and only systematic risks persist, those related to particular assets.
Definition: That portfolios of different sorts of assets differently correlated with one another will have negligible unsystematic risk. In other words, unsystematic risks disappear in diversified portfolios, and only systematic risks persist, those related to particular assets.
Print
Definition: Used in the context of general equities. As a verb execute a trade, evidenced by its printing on the ticker tape. As a noun, a trade.
Definition: Used in the context of general equities. As a verb execute a trade, evidenced by its printing on the ticker tape. As a noun, a trade.
Prior-lien Bond
Definition: A bond usually arising from reorganization with precedence over another bond of the same issuing company that is equally secured.
Definition: A bond usually arising from reorganization with precedence over another bond of the same issuing company that is equally secured.
Prior-preferred Stock
Definition: Preferred stock that has a higher claim on all dividends and assets in liquidation than claims of other preferred stock.
Definition: Preferred stock that has a higher claim on all dividends and assets in liquidation than claims of other preferred stock.
Priority
Definition: Used for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be executed first, or if two bids came in at once, the bid for the large number of shares receives "priority." The bid not executed is then turned to the broker, who informs the customer that the trade was not completed because there was stock ahead. See: Standing.
Definition: Used for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be executed first, or if two bids came in at once, the bid for the large number of shares receives "priority." The bid not executed is then turned to the broker, who informs the customer that the trade was not completed because there was stock ahead. See: Standing.
Private Banking
Definition: Offshore banking services are most commonly handled by the private banking departments of commercial banks or by private banks that cater solely to private banking clientele. Private banking is a relatively recent term that refers to a higher level of financial services afforded to a bank's wealthiest clients. The private banking department of a commercial bank has been described as functioning as a bank within a bank, maintaining its own separate books and records, and subject to separate operating procedures. Private banking activities are conducted through relationship managers and marketing officers who have access to a team of specialists around the world in order to provide personal money management, financial advice, and investment services to their high net worth clients. Private bankers are in a unique position of having knowledge and understanding of their client's personal and business backgrounds, sources of wealth, and uses of private banking accounts. Our use of this term doesn't imply that private banking is a term usually associated with abusive tax schemes. It is a commonly used term to describe many of the services discussed above.
Definition: Offshore banking services are most commonly handled by the private banking departments of commercial banks or by private banks that cater solely to private banking clientele. Private banking is a relatively recent term that refers to a higher level of financial services afforded to a bank's wealthiest clients. The private banking department of a commercial bank has been described as functioning as a bank within a bank, maintaining its own separate books and records, and subject to separate operating procedures. Private banking activities are conducted through relationship managers and marketing officers who have access to a team of specialists around the world in order to provide personal money management, financial advice, and investment services to their high net worth clients. Private bankers are in a unique position of having knowledge and understanding of their client's personal and business backgrounds, sources of wealth, and uses of private banking accounts. Our use of this term doesn't imply that private banking is a term usually associated with abusive tax schemes. It is a commonly used term to describe many of the services discussed above.
Private Export Funding Corporation (PEFCO)
Definition: Company that mobilizes private capital for financing the export of big-ticket items by US firms by purchasing at fixed interest rates the medium- to long-term debt obligations of importers of US products.
Definition: Company that mobilizes private capital for financing the export of big-ticket items by US firms by purchasing at fixed interest rates the medium- to long-term debt obligations of importers of US products.
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