Cyber*School

see Futures and Forwards

Instrument on which an derivative (option, forward contract) is based

v. underlying

(sell) analyst expects a significantly worse price development for a share than for the (industry)index.

(Consortium) merger of banks to perform a security issue (emission) for a customer. The greatest possible range of interested parties should be addressed and their own risk should be minimized.

(Unexpected Loss - UL) defines the possible loss amount of credit risk exposures, which exceeds the expected loss in the context of risk management. This unexpected loss must be backed with equity by financial institutions. (economic capital).

In case of equities usual indication of the price in euros per security. Contrary percent quotation

Commonly used terms in the agreement of deposit and lending business. It is a condition agreed with the customer, but the interest rate adjustment (time scale, indicator) remains open.

in the US-domestic market issued commercial paper,traded on a discountbasis i.e. at a discount to face value (in contrast to ECP)

(US GAAP) International accounting standards that enable international comparisons of enterprise data.

abbr. US Generally Accepted Accounting Principles

also classic repo,a repo at which the purchase and sale of the security are concluded in a single agreement (in contrast to sell and buy back),interim coupon payments are transmitted to the seller (=manufactured dividend). The advantage compared to sell and buy backs is the possibility of open repos and substitutions-agreements.

stock market usages

v. US commercial paper

abbr. ISO currency code for US-Dollar

Price movement in a graph whose history looks like the letter V. Technical analysts, it is usually referred to as a positive indicator.

value at risk (VAR) is a statistical risk measure which is used extensively for measuring the market risk of portfolios of assets and/or liabilities.Value at risk is defined as follows: The amount of money such that a portfolio is expected to lose less than that amount of money 99 days out of 100. The above definition is for 1-day value at risk measured at the 99% confidence level.

In the value range of banking, the composition of the success rate of the bank is determined.

A stock mutual fund that primarily holds stocks that are deemed to be undervalued in price and that are likely to pay dividends. The premise of value investing is that the market has inherent inefficiencies that enable companies to trade at levels below what they are actually worth. In theory, once the market corrects these inefficiencies, the value investor will see the share price rise. Value funds are one of three main mutual fund types; the other two are growth and blend (a mix of value and growth stocks) funds.

see value at risk