Cyber*School

sum of monetary claims of non-banks vs. banks which exercise currency-functionconsists of cash and sight deposits. Differnet definitions of money supply: M1, M2, M3

statistical method to compute value at risk (var) The monte carlo simulation computes a huge number of portfolio valuation using random data. other methods used in var: variance/covariance method and historical simulation

formula for the calculation of the bond price by Moosmüller,In contrast to ISMA-method interest for periods shorter than the full interest period are calculated on a linear basis (ISMA: exponential)

Tax-advantaged bond. Housing projects financed by the emission proceeds.

Municipal bonds are used to grant loans to states and municipalities with the money of investors.

An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money managers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus. Each shareholder participates proportionally in the gain or loss of the fund. Mutual fund units, or shares, are issued and can typically be purchased or redeemed as needed at the fund's current net asset value (NAV) per share.

(Naked position). A position is uncovered if it is neither secured by the underlying securities nor money. Contrary covered

The NASDAQ Composite Index is a measure of the price movement of all listed NASDAQ stocks. The index is weighted according to the market capitalization of the companies. The NASDAQ Composite Index includes over 5,000 companies and is one of the most highly publicized indices.

abbr. Net Asset Value

abbr. of Non Delivery Forward, a FX forward contract, which is not physically settled, At maturity a compensation in the amount of the difference between the agreed price and the fixing-price is paid. NDFs exist mainly in currencies with market restrictions.

(Net Asset Value NAV) The sum of all assets held by an investment fund, ie the value of all securities, cash balance, cash deposits as well as other rights. The net asset value is calculated on daily basis.

Total assets minus all liabilities and obligations

Net stable funding ratio is a liquidity ratio and shows the medium-term (1 year) liquidity available with respect to the medium-term cash outflows.

Netting of all outstanding receivables and payables between two parties

Shares which are issued due to a capital raising. As soon as they are equal to old shares they are no longer called new shares.

(Wall Street, NYSE), the New York Stock Exchange is the largest stock exchange in the world and is part of the NYSE Euronext group. Because of their address at 11 Wall Street in New York, the NYSE is often also known as Wall Street.

short cut for Nikkei 225

(Nikkei) The Nikkei is Asia's most important stock index and since 1971 it is calculated by the Japanese business newspaper Nihon Keizai Shimbun (short: Nikkei). It is a price-weighted index designed to track the performance of the 225 most important companies on the Tokyo Stock Exchange.

see face value

It is governed by the bond conditions and you can see how many percent of the nominal value will be annually paid in interest.