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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Affirmative Covenant
A kind of contract or promise that requires a party to conduct some action. For example, a bond covenant which provides that the issuer must delive ...
Pure Risk
A risk where loss is the only potential outcome; there is no positive result. A pure risk is related to events that are out of control of the risk- ...
Efficiency
Performance level describing a process which uses the lowest amount of inputs to come up with the greatest amount of inputs. It is relative to usin ...
Tax Free
Goods and/or financial products that are not taxable. Having the tax free status allows an entity to save money and encourages additional spending ...
Reprice
A situation that is most often allowed for company executives or high-level employees. It permits them to trade in their options that out of the mo ...
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