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above par

Overview page. Subjects: Economics.

A security which is trading above its redemption value or par value. Purchasers of such securities will make a capital loss if held to maturity (cf. premium; discount). Many corporate bonds...

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acceptance credit

Overview page. Subjects: Financial Institutions and Services.

A means of financing the sale of goods, particularly in international trade. It involves a commercial bank or merchant bank extending credit to a foreign importer, whom it deems...

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accretion

Overview page. Subjects: Economics.

1 The writing to profit of the increase in the value of an asset over a period of time. For securities, it tends to indicate an increase in the principal ...

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after-tax basis

Overview page. Subjects: Economics.

The calculation of returns after tax has been deducted.

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annualized forward premium

Overview page. Subjects: Economics.

(Forex).

The premium or discount between the spot exchange rate and the forward rate stated as an annualized percentage of the spot rate.

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appraisal

Overview page. Subjects: Economics — Accounting.

The assessment of alternative courses of action with a view to establishing which action should be taken. Appraisals may be financial, economic, or technical in emphasis. See decision...

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around

Overview page. Subjects: Economics.

(Forex).

Abbreviation of around par and used by traders when quoting the forward or swap points' spread (discounts or premiums) to the current spot rate (or par rate). Thus a ...

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at par

Overview page. Subjects: Economics.

A transaction, such as a security's redemption, at the face value or par value (cf. discount; premium). See also redemption price.

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bank bill

Overview page. Subjects: Financial Institutions and Services.

Commercial bill accepted by a bank (cf. banker's acceptance; trade bill). Such bills are usually sold at a discount to a discount house.

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bank discount basis

Overview page. Subjects: Economics.

The annualized simple interest rate based on the par value of the security. It is the method used to quote the interest on non-interest bearing money market instruments such as ...

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