RESIDUAL INTEREST BONDS - RIBS
A type of inverse floating-rate bond created by dividing the income from a municipal bond into two portions. The municipal bondholder will create two new securities: a primary direct floating-rate bond and a residual inverse floating-rate bond. The floaters will be linked to a reference interest rate, such as LIBOR, and the municipal bond's income will be used to pay the coupon on the direct floater, with any remaining income going toward the residual interest bond.
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Giffen Good
Good for which demand rises as the price escalates, and declines when the price decreases. It has an upward-sloping demand curve, contrary to the f ...
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An insurance that covers the costs involved in recalling possibly defective products made by the insured.
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