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12 Cards in this Set
- Front
- Back
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BEARER INSTRUMENT
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A SECURITY PAYABLE TO THE HOLDER OR "BEARER" WHEN PRESENTED. NO PROOF OF OWNERSHIP IS REQUIRED.
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BOOK ENTRY
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A SYSTEM OF TRACKING SECURITIES OWNERSHIP WHERE NO CERTIFICATE IS ISSUED. INSTEAD, THE SECURITY ISSUER KEEPS RECORDS, USUALLY ELECTRONICALLY, OF WHO HOLDS OUTSTANDING SECURITIES.
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COMPETITIVE BIDDING
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COMPETING IN AN AUCTION AGAINST OTHER POTENTIAL BUYERS OF TREASURY SECURITIES.
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DEEP MARKETS
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MARKETS WHERE THERE ARE MANY PARTICIPANTS AND A GREAT DEAL OF ACTIVITY, THUS ENSURING THAT SECURITIES CAN BE SOLD RAPIDLY AT FAIR PRICES.
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DEMAND DEPOSIT
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A DEPOSIT HELD BY A BANK THAT MUST BE PAID TO THE DEPOSITOR ON DEMAND. DEMAND DEPOSITS ARE MORE COMMONLY CALLED CHECKING ACCOUNTS.
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DIRECT PLACEMENT
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AN ISSUER BYPASSING THE DEALER AND SELLING THE SECURITY DIRECTLY TO THE INVESTOR.
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DISCOUNTING
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REDUCTION IN THE VALUE OF A SECURITY AT PURCHASE SUCH THAT WHEN IT MATURES AT FULL VALUE, THE INVESTOR RECEIVES A FAIR RETURN.
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LONDON INTERBANK BID RATE (LIBID)
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THE RATE OF INTEREST LARGE INTERNATIONAL BANKS CHARGE ON OVERNIGHT LOANS AMONG THEMSELVES.
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LONDON INTERBANK OFFER RATE (LIBOR)
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THE INTERESTS RATE CHARGED ON SHORT-TERM FUNDS BOUGHT OR SOLD BETWEEN LARGE INTERNATIONAL BANKS.
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NONCOMPETITIVE BIDDING
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OFFERING TO BUY TREASURY SECURITIES WITHOUT SPECIFYING A PRICE; THE SECURITIES ARE ULTIMATELY SOLD AT THE WEIGHTED AVERAGE OF THE COMPETITIVE BIDS ACCEPTED AT THE SAME AUCTION.
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TERM SECURITY
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A SECURITY WITH A SPECIFIED MATURITY DATE.
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WHOLESALE MARKET
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MARKET WHERE EXTREMELY LARGE TRANSACTIONS OCCUR, AS FOR MONEY MARKET FUNDS OR FOREIGN CURRENCY
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