LIBOR-IN-ARREARS SWAP
Exchanging of interest rate; the interest rate is determined based on the interest rate paid on a specific date, not on the previous payment date. LIBOR-in-Arrears Swap encompasses exchanging one security for another in order to modify the maturity (in bonds), the quality of issues (bonds or stocks), or an answer to changing investment goals. Every payment is based on the LIBOR at the end of the payment period, unlike in the traditional LIBOR swap where the rate is based on the start or the original period.
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Asset Substitution Problem
A problem which arises when a company trades its low-risk assets for high-risk investments. This substitution moves the value from the bondholders ...
Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
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