Universal Bank is a bank or a financial institution that has the legal authority to offer all financial services and may, thus, be engaged in securities dealing, insurance, underwriting, and the full range of more traditional banking services.
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Greenmail refers to the agreement between a large shareholder and a company in which the shareholder agrees to sell his stock back to the company, usually at a premium, in exchange for the promise not
Annuitize is to commence a series of payments from the capital that has accumulated in an annuity. The payments may be a fixed amount, for a fixed period
- Bill of Lading
Bill of Lading is a receipt issued by a shipowner or his agent incorporating a contract setting out the rights and obligations of a shipping company in transporting goods by sea.
- Federal funds rate
Federal funds rate is the interest rate on overnight loans of deposits at the Federal Reserve.
- Gold Standard
From 1876 to 1913, exchange rates were dictated by the Gold Standard. Each currency was convertible into gold at a specified rate. Thus, the exchange rate between two currencies was determined by their relative convertibility rates per ounce of gold.
- Account party
Account party is the customer who requests a standby letter of credit from a bank or other lender of funds.
- Monetary assets or liabilities
Monetary assets or liabilities refer to assets in the form of cash or claims (such as accounts receivable), or liabilities payable in cash. Monetary assets ...