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Abbrev. research and development.
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A committee established in the early 1970s in Australia following the collapse of a boom in ...
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Rapid, active buying of a large quantity of shares in one company by another company, often ...
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The stockmarket pirate. A corporate raider buys into a target company with the intention of ...
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An upswing or brisk improvement in market activity and prices after a downturn.
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Collusion by market participants to create, through artificial trades, an impression of activity ...
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A theory among market analysts that explains movements in share prices as being independent ...
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A security which does not pay interest if interest rates move outside a specified range. ...
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A type of forward contract which combines the ability to take advantage of favourable movements ...
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A swap where one of the payment streams is denominated in a currency other than that of the ...
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Profit earned in relation to capital invested; what you get back as a reward for risking your ...
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An examination of a company's ratios, such as gearing and liquidity, to determine its financial ...
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An option spread where the number of contracts bought and sold are not equal, eg, selling ...
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An approach to modelling the way in which people predict future values for economic variables. ...
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Pruning, merging or reorganising a business or sector of the market to improve efficiency ...
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Abbrev. Reserve Bank of Australia.
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Land, houses, buildings. The term generally refers to immovable property, which can be contrasted ...
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The true spending power of wages or salary after allowing for erosion by inflation.
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Interest rates less the rate of inflation. If inflation is n per cent and the interest rate ...
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See also: unit labour costs.
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The worth of an item when inflation is taken into account. It is relatively simple, by observing ...
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What you earn, expressed in terms of how much you can buy with it. If prices are rising faster ...
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An internationally accepted system to minimise interbank settlement risk by requiring that ...
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To turn a change in value from potential to actual, usually by selling an asset. For instance, ...
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The maximum amount an individual can receive over his or her working life, at the concessional ...
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A type of commonwealth bond still in existence but which has not been issued since May 1968. ...
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Money that should be coming your way in payment for goods or services you have provided. You ...
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A drastic slowing of the economy. The Americans, who are good at making precise definitions, ...
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The price of one currency in terms of another when the official quote gives the second currency ...
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Scratch my back and I'll scratch yours. The concept is well illustrated by the internationalising ...
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The right to claim payment of a debt or obligation from a particular party, even though that ...
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An environmental term adopted by economists during the oil price crisis of 1973 - 74 when ...
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The debit side of finance. 'You're in the red' means you are in debt. Debits used to be entered ...
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Shares which, on a stated maturity date, the issuing company will buy back for face value ...
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A warrant offering cash redemption rather than a conventional exercise. Also puttable warrant.
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Paying off or cancelling a debt. Commonwealth bonds are redeemable at face value on maturity; ...
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See also: yield to redemption.
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Resale or resell. The word is used in the context of selling a security such as a bill of ...
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A rate used as a yardstick or benchmark for setting other rates, eg, LIBOR, HIBOR and so on. ...
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Extending existing loans or replacing existing funds with alternative borrowings, which may ...
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Economists' jargon for measures which they hope will improve productivity and demand while ...
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The base chosen by a company operating in several countries, for example, a finance centre ...
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A statistical technique used to measure the relationship between a dependent variable and ...
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An authority given to the US Federal Reserve in the Great Depression of the 1930s, under which ...
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The insurance companies' insurance which enables them to spread their risk by paying premiums ...
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A reversal of the process of disintermediation. It occurs when regulations which created disintermediation ...
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The interest rate at which the cashflow from a coupon or principal payment can be reinvested.
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See also: renegotiation.
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Revision of money-market interest rates either by 11am or 4pm, depending on whether the funds ...
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Payment made to the owner of an asset for the use of that asset, as in paying a fee to occupy ...
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Someone whose income comes from sources other than wages, who makes money from investments.
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Getting rid of the dead wood; selling off the loss-maker; sacking the manager.
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See also: repurchase agreement.
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A company or other organisation which is obliged to prepare general-purpose financial reports ...
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A transaction between two parties in which securities are transferred in exchange for cash, ...
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A practice in which a supplier or manufacturer influences or requests a wholesale or retail ...
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A euphemism for postponing payment of money owed. The word became popular following controversy ...
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A positive way to divert sums of money, which might otherwise go to the tax collector, into ...
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A simultaneous electronic transfer and settlement system for commonwealth government securities, ...
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The country's central bank, combining the roles of financial system supervisor, banker and ...
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A stable currency of a country featuring prominently in world trade. Central banks hold a ...
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Funds set aside from company profits not distributed to shareholders in the form of dividends. ...
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See also: in-arrears swap.
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The notional value of a leased property such as a car or photocopier at the end of the lease ...
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The price level at which buyers or sellers lose interest and at which the price should stabilise ...
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At the end of a yellow brick road, or at the end of a rainbow, there is Arcadia, or paradise ...
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The tax levied on profits over a (theoretic) level defined as an 'adequate' return from an ...
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Market activities which manipulate supply and/or demand to create an unfair collusive or monopoly-based ...
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Banking services catering for ordinary individuals and small businesses, as distinct from ...
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The UK equivalent of what in Australia and the US is known as the consumer price index. It ...
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The proportion of after-tax profit that is held in a business after dividends have been paid. ...
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To pay a bill of exchange before it falls due. A company which has issued bills of exchange ...
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The amount earned on an investment or made on a transaction.
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An increase in the worth of, say, a currency. The word has wandered from its literal meaning ...
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Earnings; what a company makes in monetary terms from its activities. Not to be confused with ...
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A bond whose coupon is in a non-base currency and pays principal in the base currency. ...
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A type of structured security where the rate paid to the holder increases as floating rates ...
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See also: reverse repurchase agreements.
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The opposite of repos; the Reserve Bank (central bank) sells securities to the market to drain ...
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Purchase of a controlling interest in a company by one of its subsidiaries.
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Arrangements enabling a borrower to have access to a credit line, often with the ability to ...
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A type of note issuance facility involving a medium-term commitment by a group of underwriters ...
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The sensitivity of an option's theoretical value to a change in interest rates. Represented ...
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Abbrev. regional headquarters.
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(1772 - 1823)an economist whose record in finance reads like every money-market trader and ...
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A market in which prices have been manipulated so that buyers or sellers have been attracted ...
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See also: trading on the right-hand side.
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An offer of additional shares to existing shareholders, in proportion to their holdings, to ...
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Spread/yield curve plays which are closer to low-level speculation than arbitrage.
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In Australia, similar to venture capital but without the connotation of involving new technology. ...
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Trying to control outcomes to a known or predictable range of gains or losses. Risk management ...
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Most people try to avoid high risks when investing or, if they knowingly incur a higher-than-average ...
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Assets which are weighted for credit risk according to a formula used by the Reserve Bank ...
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Abbrev. Reserve Bank Information and Transfer System.
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(1903 - 83)British economist, one of the most influential of the post-Keynesian economic theorists. ...
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A Wall Street wunderkind. Rocket scientists are the geniuses of investment banking who had ...
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An interest-rate swap whose notional principal fluctuates, generally to suit the financing ...
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A continuous position in exchange-traded futures and options contracts, maintained by closing ...
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The renewal of a loan facility or continuance of a deposit at each maturity date, usually ...
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A feature of the superannuation system in Australia since 1983, when the federal government ...
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A circular transaction that shifts funds from one account to another but has no effect on ...
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See also: mint.
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An inquiry in 1935 - 37 which resulted in the defining of the role and responsibilities of ...
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What authors hope to earn when they write, inventors when they invent, governments and landowners ...
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Abbrev. resources rent tax.
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Abbrev. real-time gross settlement.
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Abbrev. revolving underwriting facility.
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A method of calculating how much interest has been earned by a lender at any stage during ...
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A rapid rise in a share price or, in a different context, a rush to withdraw funds from an ...
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In futures trading, the person who connects between the booth moll and the floor trader, passing ...
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The interest rate on an investment expressed as a percentage of the capital invested. It takes ...
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