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12 Cards in this Set

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  • Back
BEARER INSTRUMENT
A SECURITY PAYABLE TO THE HOLDER OR "BEARER" WHEN PRESENTED. NO PROOF OF OWNERSHIP IS REQUIRED.
BOOK ENTRY
A SYSTEM OF TRACKING SECURITIES OWNERSHIP WHERE NO CERTIFICATE IS ISSUED. INSTEAD, THE SECURITY ISSUER KEEPS RECORDS, USUALLY ELECTRONICALLY, OF WHO HOLDS OUTSTANDING SECURITIES.
COMPETITIVE BIDDING
COMPETING IN AN AUCTION AGAINST OTHER POTENTIAL BUYERS OF TREASURY SECURITIES.
DEEP MARKETS
MARKETS WHERE THERE ARE MANY PARTICIPANTS AND A GREAT DEAL OF ACTIVITY, THUS ENSURING THAT SECURITIES CAN BE SOLD RAPIDLY AT FAIR PRICES.
DEMAND DEPOSIT
A DEPOSIT HELD BY A BANK THAT MUST BE PAID TO THE DEPOSITOR ON DEMAND. DEMAND DEPOSITS ARE MORE COMMONLY CALLED CHECKING ACCOUNTS.
DIRECT PLACEMENT
AN ISSUER BYPASSING THE DEALER AND SELLING THE SECURITY DIRECTLY TO THE INVESTOR.
DISCOUNTING
REDUCTION IN THE VALUE OF A SECURITY AT PURCHASE SUCH THAT WHEN IT MATURES AT FULL VALUE, THE INVESTOR RECEIVES A FAIR RETURN.
LONDON INTERBANK BID RATE (LIBID)
THE RATE OF INTEREST LARGE INTERNATIONAL BANKS CHARGE ON OVERNIGHT LOANS AMONG THEMSELVES.
LONDON INTERBANK OFFER RATE (LIBOR)
THE INTERESTS RATE CHARGED ON SHORT-TERM FUNDS BOUGHT OR SOLD BETWEEN LARGE INTERNATIONAL BANKS.
NONCOMPETITIVE BIDDING
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.
TERM SECURITY
A SECURITY WITH A SPECIFIED MATURITY DATE.
WHOLESALE MARKET
MARKET WHERE EXTREMELY LARGE TRANSACTIONS OCCUR, AS FOR MONEY MARKET FUNDS OR FOREIGN CURRENCY