Cyber*School

abbr. Until further notice

Funds that invest their funds in sub-funds, ie in shares of other funds. They thus serve as a form of standardized asset management.

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