- Industry: Financial services
- Number of terms: 73910
- Number of blossaries: 1
- Company Profile:
World's leading financial information-service, news, and media company.
Bank department that deals with estates, administers trusts, and provides services such as estate planning advice to its clients.
Industry:Financial services
An irrevocable trust that is designed to pay trust income (and principal, if needed) to an individual's spouse for the duration of the spouse's lifetime. The bypass trust is not part of the beneficiary spouse's estate and is not subject to federal estate taxes upon his/her death.
Industry:Financial services
A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g., the payment by a customer of funds into that bank's account.
Industry:Financial services
A short-term credit investment created by a nonfinancial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts to face value in the secondary market. These instruments have been a popular investment for money market funds. They are commonly used in international transactions.
Industry:Financial services
Time required for processing and clearing a check through the banking system.
Industry:Financial services
An agreement between a company engaged in a takeover bid and a bank that the bank will not finance the bid of another acquirer.
Industry:Financial services
Inability to pay debts. In bankruptcy of a publicly owned entity, the ownership of the firm's assets is transferred from the stockholders to the bondholders.
Industry:Financial services
The risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk.
Industry:Financial services
The argument that expected bankruptcy costs preclude firms from financing entirely with debt.
Industry:Financial services
