Vernimmen | corporate finance | Glossary letter C

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LETTER 1

LETTER A

Abandonment risk	Abeyance	Absolute return
Accelerated book-building	Accelerated depreciation	Accelerated share repurchase
Acceleration, Acceleration clause	Account balancing	Account conversion
Account receivable aging	Accountant letter	Accounting criteria of value creation
Accounting currency risk	Accounting information	Accounting procedures with an impact on earnings
Accounting rate of return	Accounting standard	Accounting statement
Accounts payable	Accounts receivable	Accredited investors
Accretion	Accretive	Accrual basis accounting
Accrual bond	Accruals	Accrued benefits
Accrued coupon	Accrued expense	Accrued income
Accrued interests	Accumulator	Acid test ratio
Acquisition Facility	Acquisition holding company	Acquisitions
Act of God	Acting in concert	Active Fund Management
Active share	Activist fund	Activist shareholder
ActivitÃ©s post-marchÃ©	Actuarial floor	Actuarial margin
Actuarial rate	Actuarial rate of return on a bond	Actuary
Adjustable Parity Bonds redeemable in shares	Adjustable rate preference shares	Adjustable-rate debt security
Adjusted Net Asset Value	Adjusted present value, APV	Adjustment to per share data
Administrative synergy	ADR	Advance dividend
Advance rate	Adverse selection	Affiliates
Affirmative covenant	African Development Bank (ADB)	After-market
AG or Aktiengesellschaft	Agency	Agency costs
Agency theory	Agent bank	Agent fee
Aging, Ageing, aging balance, ageing balance	Agreement in principle	AIM
All-in cost	All-share transaction	Alliance
Allocative efficiency	Allotment	ALM
Alpha	ALRG	Alternative assets
Alternative electronic platform	Alternative Investment Market	Alternative management
Alternative offer	American Depositary Receipt	American option
Amortisation	Amortisation of the loan	Analytical accounting
ANAV	Anchor investor	Angel investors or Business angels
Annual effective interest rate	Annual meeting	Annual Premium Equivalent
Annualise or annualised	Annuity	Annuity - increasing cash flows
Annuity factor	Anti-takeover features	Anticipation mechanism
Antidilution	Antitrust laws	APE
Apparent dilution	Appraisal clause	Appraisal or Valuation
APR or Annual Percentage Rate	APT	APV
Arbitrage	Arbitrage pricing theory, APT	Arbitration, Arbitrators
Arm's length	Arrangement fee	Arranger
Arranging the deal	Arrears, Unpaid	Article 11
Article 12	Article 9	Articles of association
Articles of Incorporation or Articles of Association	Asian option	Ask or Offer or Bid or Spread or Bid-Ask
Asset allocation	Asset and liability management	Asset and liability warranty clause
Asset backed commercial paper	Asset backed securities	Asset beta
Asset contribution	Asset coverage	Asset intensive
Asset Liability Refinancing Gap	Asset management	Asset token
Asset turnover	Asset-backed loan	Asset-Liability Management
Asset-light	Assets	Assignment, assignor and assignee
Assimilation	Associate	Associated undertaking
Asymmetry - issuer/investor	Asymmetry - option	Asymmetry - shareholder / creditor
At par, Above par, Below par	At the money	Atypical silent partner
Auction	Auction clause	Audit
Audit trail	Auditor	Average collection
Average life	Average life of a bond	Average life of a loan

LETTER B

B2B or business-to-business	Back office	Back testing
Back-office	Back-stop	Back-up
Back-up line	Back-Up Servicer	Backdoor equity hypothesis
Backlog	Backwardation	Bad debt
Bad debt reserve	Badwill	Bail out
Bail-in	Balance sheet	Balance sheet in an asset-based approach
Balance sheet in an economic approach	Balloon loan and Balloon payment	Bank
Bank base rate	Bank guarantee	Bank holiday
Bank loan	Bank overdrafts	Bank-based economy
Banking market	Banking penetration	Banking syndicate
Bankruptcy	Bankruptcy costs	Bargaining zone
Barrels, BPD, bbl/d, bpd, bd or b/d	Barrier currency option	Barrier interest rate option
Barrier option	Barriers to entry	Barter
Base	Base metals	Basel 2 or Basel II
Basel III	Basis of a forward contract	Basis point
Basis risk	Bates model	Bear market
Bearer	Bearer bond	Bearer shares
Behavio(u)ral finance	Bellwether or Barometer stock	Below investment grade
Below the line	Benchmark	Benchmark switching
Benchmarking	Beneficial owner	Best bid/offer order
Best efforts basis	Best execution	Best in Class
Best limit order	Beta	Beta coefficient
Beta of assets	Bid Bond	Bid-ask spread
Bill of exchange	Bill of lading or B/L	BIMBO
Binding offer	Binomial method	BIS or Bank for International Settlements
Bitcoin	Black - Scholes Model	Black-out period
Blind trust	Block	Block ownership
Block purchase	Block trade	Block trading
Blockchain	Blockchain	Blocking minority
Blue chip	Blue Sky laws	Board of Directors
Board of Trustees	Bolt-on projects	Bona fide
Bond	Bond denomination	Bond indenture
Bond issue	Bond market	Bond redeemable in shares
Bond redemption premium	Bond resolution	Bond value of the convertible bond
Bond with warrants	Bonds redeemable in cash and new or existing shares	Bonds with redeemable equity warrants
Bonds with share warrants	Bonus issue	Book
Book entry	Book profitability	Book to market
Book value	Book value of shareholders' equity	Book Value Per Share
Book-building	Bookkeeping	Bookrunner
Bootstrap game	Bootstraping	Bootstrapping model
Borrowing resources	BOT	Bottom line
Bottom-up approach	Bought deal	Brands
Brands and market share	Break costs or Break-up fees	Breakeven
Breakeven effect	Brent crude, Brent blend, London brent, Brent petroleum	Bricks and mortar
Bridge equity	Bridge loan	Broker
Broker's note	Brought over the wall	Build-Operate-Transfer
Build-up	Building society	Buildings
Bull market	Bullet bond	Bullet repayment
Bullion	Bund	Burn rate
BUS	Business angels	Business cycle
Business day	Business loan	Business loarpose. Also called a financial loan.
Business plan	Buy and hold	Buy or Sell
Buy-back	Buy-sell provision	Buy-side
Buyer's credit	Buyer's monopoly	Buyout, LBO, Leveraged BuyOut
BVPS	By the book	By-category income statement format
By-destination income statement format	By-nature income statement format

LETTER C

CAGR or Compound Annual Growth Rate	Calendar day	Calendar year and Accounting year
Call clause	Call option	Call protection
Call provision	Callable	Callable
Callable bond	Callable capital, Paid-in capital	Callable instrument
Callable loan	Cancellation of debt	Cancellation of debt + Cancellation of loan + Debt cancellation + Loan cancellation
Cancellation of loan	Cap	Capacity
Capacity utilisation rate	Capex	Capex facility
Capital	Capital adequacy ratio	Capital allowance
Capital Asset Pricing Model, CAPM	Capital base	Capital call facility
Capital decrease	Capital employed	Capital expenditures
Capital flight	Capital gain/loss	Capital increase
Capital increase - agency theory	Capital increase in cash	Capital intensity
Capital invested	Capital lease	Capital market economy
Capital market line	Capital market line	Capital markets
Capital rationing	Capital ratios	Capital reduction
Capital structure	Capital structure arbitrage	Capital turn
Capital-employed analysis	Capital-intensive	Capitalisation
Capitalisation contract	Capitalisation factor	Capitalisation issue
Capitalisation rate	Capitalised production	CAPM
Captive insurance company	Captive reinsurance	Carbon credit
Carried interest	Carry trade	Carry-back
Carrybacks	Carryforwards	Carve-out
Carveout	Cash & carry trade or basis trading	Cash (and cash equivalents)
Cash Against Documents or CAD	Cash at risk	Cash back
Cash budget	Cash burn	Cash certificate
Cash cow	Cash flow	Cash flow at risk
Cash flow budget	Cash Flow fade	Cash flow fade model
Cash flow from operating activities	Cash flow from operations	Cash flow hedge
Cash flow matching approach	Cash flow plan	Cash flow return on investment, CFROI
Cash flow statement	Cash flow statement	Cash flow value
Cash management	Cash market	Cash mutual fund
Cash pooling	Cash ratio	Cash settlement
Cash sweep	Cash Value Added	Cash-generating unit
Cat bond	Catastrophe bond	CBO
CBOE	CD	CDO
CDPC	CDS	CDX Index or CDX
Centralised cash management	Centralised market	Certificate of deposit, CD
CFA or Chartered Financial Analyst	CFD	CFO or Collateralised Fund Obligation
CFROI	CFTC	Chairman
Change in inventories of finished goods	Change in working capital	Change of control
Change of control clause	Chaos	Chaotic functions
Chapter 11	Characteristic line	Charges
Chart analysis	Charter	Chartist
Chattel	Chattel	Chattel Mortgage
Chattel mortgage	Cheque	Chi-X
Chicago Mercantile Exchange	Chief Executive Officer	Chief Financial Officer
Chief Information Officer	Chief Operating Officer	Chinese wall
Chirographic creditor	Churn rate	Circling
Class action	Claw-back clause	Claw-back commitment
Claw-back provision	Clawback	Clear title
Clearing house	Clearnet	Clearstream
Clientele effect	Clipping	CLO
Closely held	Closing	Closing rate method
Club deal	CMBS	CME
CNAV	Co-financing	Co-lead managers
Co-leads	Co-managers	COGS
Collar	Collateral	Collateralised bond obligation
Collateralised debt obligation, CDO	Collateralised loan obligation	Collection period
Combined leverage	Combined ratio	Comfort letter
Comingling	Comingling risk	Commercial bills
Commercial currency risk	Commercial foreign exchange position	Commercial interest rate risk
Commercial loan	Commercial Mortgage-Backed Securities	Commercial paper
Commercial position	Commercial synergy	Commitment fee
Committed facility	Committees -Board of Directors	Commodity Futures Trading Commission
Common equity	Common stock	Community token
Company-friendly bankruptcy process	Comparables model	Comparative analysis
Competing offer	Competing public offer	Competition
Competition authorities	Competitive bidding	Completed contract method
Compliance	Comply or explain	Compound interest
Comprehensive income	Comprehensive insurance	Concentration bank
Concert	Condition precedent	Condition sale
Condition subsequent	Conditional contract	Confidentiality Agreement
Confidentiality agreement	Confidentiality letter	Confirmed credit line
Conflict between management and shareholders	Conflict between shareholders and creditors	Conflict of interest
Conforming	Conforming loan	Conglomerate
Conglomerate discount	Conglomerate discount	Consensus forecast
Consent fee	Consequential damage	Consideration
Consolidated accounts	Consolidation	Consolidation methods
Consortium	Constant amortisation	Constant currency
Construction contracts	Consumer loans	Consumer Price Index
Consumption	Contango	Contingent assets
Contingent claims model	Contingent liabilities	Contingent market
Contingent tax liabilities	Contingent taxation	Contingent value rights, CVR
Continuation plan	Contract for difference	Contribution margin
Contribution margin	Contribution of assets	Contribution of shares
Contribution value	Control	Control premium
Control value	Controlling block	Convenience rate
Conventional convertible preferred stock	Conversion - historical rate method	Conversion option into shares of the target company
Conversion period	Conversion premium	Conversion price
Conversion ratio	Conversion value of the convertible bond	Convertible
Convertible bonds	Convertible preferred stock	Convexity
Cooke ratio	Cooling-off period	Core capital
Corner stone investor	Corporate Finance	Corporate governance
Corporate loan	Corporate social responsibility	Corporate venture
Correlation	Corridor bond	Cost
Cost of capital	Cost of capital - Emerging countries	Cost of carry
Cost of debt	Cost of equity	Cost of refunding
Cost of self-financing	Cost of shareholders' equity	Counterparty risk
Countertrade	Country risk premium	Coupon
Coupon payment	Coupon rate	Coupon reinvestment risk
Cov-lite loan	Covariance	Covenant light
Covenant-lite loan	Covenants	Covered bond
Covered warrant	Covered warrants	CP
CPI	Creative accounting	Credentials
Credit bureau	Credit default swap	Credit derivative
Credit derivative product company	Credit enhancement	Credit exposure
Credit facility	Credit insurance	Credit line
Credit manager	Credit ratings	Credit risk
Credit scoring	Credit spread	Credit-based economy
Creditor-friendly bankruptcy process	Creditors (U.K.)	Creditworthiness
Creeping takeover	Criteria for choosing an investment	Cross currency swap
Cross default	Cross default covenant	Cross-border merger
Cross-collaterisation	Cross-shareholdings	Crossover
Crossover fund	Crowdequity	Crowdfounding
Crowdfunding	Crowdlending	Cryptocurrency
CSR	Cum dividend	Cure period
Currency at (forward) premium/at discount	Currency risk	Currency swap (with principal)
Currency swap without principal	Currency translation	Current account
Current assets	Current currency	Current EPS adjusted for the cost of carbon
Current liabilities	Current rate method	Current ratio
Current yield	Custodian	Custody
Custody fee	Customer credit	Cut-off
CVA	CVR

LETTER D

DAC	Daisy chain	Dashboard
Data room	Dated Brent	Dated date
Day trader	Day-count convention	Days inventory outstanding
Days of finished goods inventory ratio	Days of goods held for resale ratio	Days of raw material ratio
Days of work-in-process ratio	Days payable oustanding	Days purchases outstanding
Days sales outstanding	Days' inventory ratio	Days' payables ratio
Days' receivables ratio	DCF model	DCM
DDM	De-rating	De-recognition
Debenture	Debit	Debt
Debt cancellation	Debt capital	Debt capital market
Debt cycle	Debt financing	Debt policy
Debt push down	Debt refinancing	Debt securitisation fund
Debt security	Debt service	Debt service coverage ratio
Debt service ratio	Debt structure	Debt waiver
Debt wall	Debt warrant	Debt/equity
Debtor-friendly bankruptcy process	Debtor-in-possession	Decapitalisation
Declining balance depreciation	Deconsolidation	Decorrelation
Deductible	Deductible	Deductible
Deed	Deed of release	Deed of surrender
Deep in the money	Deep market	Deep out of the money
Default risk	Defeasance	Defensive stock
Deferred compensation	Deferred income	Deferred Purchase Price
Deferred redemption period	Deferred repayement	Deferred tax assets
Deferred tax assets and liabilities	Deferred tax liabilities	Deferred taxation
Defined benefit plans	Defined contribution plans	Deflation
Delinquent	Delisting	Delta
Demand elasticity	Dematerialisation	Dematerialised
Demerger	Depletion	Depositary receipt, DR
Depreciation	Depreciation and amortisation	Depreciation or amortization period
Depreciation ratio	Depth of a market	Deregulation
Derivative	Derivatives market	Despacing
Devaluation	Development capital	Development capital fund
Differed Acquisition Costs	Dilution - EPS	Dilution - shareholders
Dilution loss	Dilution of control	Dilution profit
Dilutive	DIO	Direct approach - valuation
Direct debit	Direct finance	Direct method
Direct valuation method	Director	Discontinuing operations
Discount	Discount for non-voting shares	Discount rate
Discounted average life of all the cash flows of a bond	Discounted cash flow model, DCF model	Discounted payback period
Discounting	Discounting factor	Discounting of bills of exchange
Discounting with recourse	Disinflation	Disintermediation
Disinvestment	Disposal	Distressed
Distribution system	Diversification	Diversified company - cost of capital
Diversified portfolio	Diversity score	Divestiture
Dividend	Dividend cover	Dividend discount model, DDM
Dividend growth rate	Dividend payout	Dividend payout - ratio or rate
Dividend per share, DPS	Dividend policy	Dividend recapitalisation
Dividend tax credit	Dividend yield	DJIA
Documentary credit	Domiciliation	Double taxation
Double voting rights	Double-entry accounting	Downgrade
Downside	Downsizing	DPO
DPS	DR	Drag along
Dragon bond	Dribble out	Drop dead date
Dual class shares	Dual currency bond	Dual listing
Dual track	Due diligence	Duration
Dutch auction	Dutch clause

LETTER E

E-commerce	Earn-out clause	Earnings
Earnings at risk	Earnings Before Interest and Taxes	Earnings before interest, taxes, depreciation and amortisation
Earnings per share, EPS	Earnings retention ratio	Earnings yield
EBIT	EBIT multiple	EBITA
EBITDA margin	EBITDA multiple	EBITDA, Earnings before interest, tax, depreciation and amortisation
EBITDAR, Earnings before interest, taxes, depreciation, amortisation and rent	EBRD	ECM
Economic analysis	Economic and Monetary Union	Economic indicators of value creation
Economic profit	Economic rent	Economic risk
Economic value added, EVA, EVA Model	Economy of scale	ECP
Efficient frontier	Efficient market	Efficient market hypothesis
Efficient portfolio	EFRAG	EGM
Electronic bill of exchange	Electronic Datoroom	Electronic promissory note
Electronic roadshows	Eligibility criteria	Eligible
Eligible bills	ELTIF	Embedded option
Embedded Value	Emerging countries - cost of capital	Emerging Markets
EMIR	Employee benefits	Employee productivity
Employee savings	Employee stock ownership program, ESOP	Employee-shareholders
EMTN, Euro MTN	EMU	ENCB
Encumbrance	Endowment	Enhancement
ENPV	Enterprise value	Enterprise value multiples
Entrenchment theory	Entrepreneur	EONIA, Euro Overnight Index Average
EPOS	EPS	Equalisation tax
Equiduct	Equilibrium value	Equipment leasing
Equipment Trust Certificates	Equity	Equity
Equity affiliate	Equity beta	Equity Capital Markets
Equity capital multiples	Equity content	Equity credit
Equity crowdfunding	Equity cycle	Equity in drag
Equity kicker	Equity line	Equity method
Equity Neutral Convertible Bond	Equity premium puzzle	Equity ratio
Equity risk premium	Equity sponsor	Equity story
Equity swap	Equity sweetener	Equity token
Equity value	Equity warrant	Equity-for-debt swap
Equity-linked securities	Equivalent annual cost method	Equivalent rates
ERP	Escalation clause	Escalator clause
Escrow account	ESG	ESMA
ESOP	ESRS	ETF
Ether	ETO	EUR
EUREX	EURIBOR, Euribor	Eurimean
Euro	Euro Commercial Paper (ECP)	Euro MTN
Euro Overnight Index Average	Euro PP	Euro STOXX
Eurobond	Euroclear	Eurocredits
Eurocurrencies	Eurolist	Euronext
Euronext Access	Euronext Access+	Euronext Growth
European Bank for Reconstruction and Development	European Central Bank	European Company, Societas Europaea (SE)
European Financial Reporting Advisory Group	European Interbank Offered Rate	European Long-Term Investment Fund
European option	European Sustainability Reporting Standards	European Union
European-style option	Eurostat	Eurozone
Eurozone Public Offering of Securities	EVA	EVA model
Event driven	Event of default	Event-study analysis
Exceptional depreciation	Exceptional expenses	Exceptional items
Excess loss	Exchange controthe government authorities in a given country.	Exchange ratio
Exchange risk	Exchange traded fund	Exchangeable bonds
Exclusive negotiations	Exclusivity - M&A process	Exercise date
Exercise period	Exit	Exit clause
Exotic product	Expanded net present value, ENPV	Expected equity risk premium
Expected outcome	Expected return	Expected return of a market portfolio
Expected Shortfall	Expenses	Experience curve
Expert systems	Explicit forecast period	Explicit time horizon
Export credit	Exposure	Expropriation effect
Extended trade-off model	Extendible	Extendible note
EXtensible Business Reporting Language	Extension clause	External capital
External growth	External projects	External shareholder
Extraordinary general meeting of shareholders, EGM	Extraordinary items

LETTER F

Face value	Facility fee	Factor
Factoring	Factoring fee	Fair disclosure - principle of
Fair Market Value or FMV	Fair value	Fair Value hedge
Fairness opinion	Fairway bond	Fallen angels
Fama-French model	Family Office	Family shareholding
Family-owned company	FASB	FCFF
FCFF	FED	Federal Open Market Committee
Fee Wallet	FFO	Fiat money
FIFO, First in, first out	Final maturity	Finance
Finance lease	Financial Accounting Standards Board	Financial analysis
Financial analysis - Standard plan	Financial analysis techniques	Financial analyst
Financial assets	Financial autonomy ratio	Financial breakeven
Financial bubble	Financial buyer	Financial capital
Financial capitalism	Financial communication	Financial cost
Financial currency risk	Financial distress	Financial distress cost
Financial engineering	Financial expense	Financial expenses
Financial flexibility	Financial foreign exchange position	Financial holding company
Financial income	Financial income	Financial information
Financial interest rate risk	Financial investments	Financial investor
Financial leverage	Financial leverage - dynamic	Financial loan
Financial package	Financial profitability	Financial resources
Financial risk	Financial risk management	Financial security
Financial Services Authorithy	Financial structure	Financial sweetener
Financial synergy	Financial system	Financial year
Financing	Financing cycle	Financing options
Financing plan	Financing through a capital increase	Finished goods
Fintech	Fire sale	Firm price offer
Firm underwriting	Firm value	First dividend
First in, first out	First loss	First mover advantage
First-time issuer	Fisher formula	Fitch
Fixed assets	Fixed costs	Fixed income securities
Fixed price placement	Fixed rate	Fixed-price offering
Fixed-rate bond	Fixed-rate debt security	Fixing
Flex	Float	Floater
Floating-rate debt security	Floor	Floor plan loan
Floor underwriting	Flotation	Flow-back
Forced conversion	Foreclosure	Foreign bond
Foreign currency advances	Foreign currency hedging	Foreign exchange gains and losses
Foreign exchange option	Foreign exchange risk	Foreign exchange swap
Forfaiting	Forward currency transaction	Forward exchange rate
Forward foreign exchange	Forward rate	Forward rate agreement, FRA
Forward transaction	Forward-forward rate	Forward-looking
FRA	FRA Borrower	FRA Lender
Fractals	Franchise	Free cash flow
Free cash flow before tax	Free cash flow multiple	Free cash flow to equity
Free cash flow to the firm, FCFF	Free Cash Flow Yield	Free float
Free float factor	Free issue	Free rider
Free share	Frequency	Frequency risk
Friendly offer	Friends & family	Front-end fee
Front-office	Frozen account	Frozen assets
FSA	FTSE	Full commitment
Full consolidation	Fully valued	Fully-diluted EPS
Fund manager	Fund of Funds	Fundamental analysis
Fundamental valuation method	Funds from operation ( FFO)	Fungibility
Future	Futures market

LETTER G

GAAP	Gamma	GARP
GBP	GDP	GDR
Gearing	General accounting	General Meeting
General partner (GP)	Geography of capital	GKO
Global coordinator	Global Depositary Receipt, GDR	Global offering
Global Relationship Manager	Going concern	Going concern principle
Golden parachute	Golden share	Golden share
Goodwill	Goodwill amortisation	Goodwill method
Gordon-Shapiro formula	Grace period	Grace period
Grandfather clause	Greeks	Green bond
Green Bonds Principles	Green or sustainable term loan	Green RCF
Greenfield	Greenmail	Greenshoe
Greenshoe option	Greenwashing	Grey market
GRM	Gross capital employed	Gross debt
Gross dividend	Gross Domestic Product	Gross margin
Gross operating profit	Gross trading profit	Gross Written Premium
Gross yield to maturity	Group	Growth at a reasonable price
Growth potential	Growth rate	Growth stock
Growth stock	Guaranted Investment Contract	Guarantee
GWP

LETTER H

Haircut	Hard capital rationing	Hard currency
Hard non call	Hard non-call period	Hart Scott Rodino
Hazard insurance	Head office expenses	Hedge fund
Hedger	Hedging	Hedging principle
Herding instinct, herding behavior	Hidden assets	Hidden option
High grade	High-yield bonds	Hight Net Worth Individual
Hire Purchase	Historical equity risk premium	Historical value
Holdback	Holding company	Holding company discount
Holding-period return	Holt model	Home bias
Hostile offer	Hurdle rate	Hurricane bond
Hybrid securities	Hyperinflation	Hyperinflationary country

LETTER I

IADB	IAS	IAS Foundation
IASB	IBR	IBRD
ICE	ICO	ICO
ICR	Identified purchase cost	Idiosyncratic risk
IFC	IFRIC	IFRS
IFRS Foundation	IFRS Interpretation Committee	IFRS S
Ijara	Ijara-wa-Iqtina	Illiquidity
IMF	Immune portfolio	Immunisation
Impact Fund	Impaired debt	Impairment losses
Impairment of current assets	Impairment of non-current assets	Impairment test
Implicit rating	Implied volatility	In the money
Incentive contracting	Income	Income statement
Income stock	Incoterms	Incremental project
Incubator	Incumbrance	Indenture
Independent Business Review (IBR)	Independent director	Index floater
Index management	Index trackers	Index-linked securities
Indication of Interest	Indicative offer or non binding offer	Indirect approach
Indirect finance	Indirect method	Indirect valuation method
Industrial strategy	Industrial synergy	Industry risk
Ineligible	Inertia	Inflation
Inflation - financial structure	Inflation profit	Inflation rate
Inflation risk	Inflation-linked bond	Info memo
Information - financial markets	Information asymmetry	Information cascade
Information memorandum	Informational efficiency	Infrastructure Fund
Initial Coin Offering	Initial Coin Offering	Initial margin
Initial public offering, IPO	Insider	Insider trading
Insolvent	Instalment	Instant payment
Institutional investors	Insurance	Intangible asset
Intangible capital	Intangible fixed asset	Integrated reporting
Inter-American Development Bank	Inter-company credit	Interchangeability
Interest	Interest charge	Interest cost
Interest cover	Interest coverage ratio	Interest expense
Interest margin	Interest rate	Interest rate option
Interest rate risk	Interest rate swap rate, IRS rate	Interest rate swap, IRS
Interest-bearing	Interest-bearing current account	Interest-only loan
Interim dividend	Interim facilty agreement	Interim interest
Interim interest payments	Intermediary	Intermediated debt
Intermediation	Internal capital	Internal capital gain
Internal financing	Internal growth model	Internal growth potential
Internal profits	Internal rate of return, IRR	Internal shareholder
International Accounting Standard	International Accounting Standards Board	International Bank for Reconstruction and Development
International bond	International Finance Corporation	International Monetary Fund
International Swaps and Derivatives Association	Intra-annual dividend	Intra-group transactions
Intraday	Intrinsic risk	Intrinsic value - option
Intrinsic value - share	Inventories	Inventories - weighted average cost method
Inventory turnover ratio	Inventory valuation methods	Inverse floaters
Invested capital	Investing	Investment
Investment banking	Investment choices	Investment club
Investment cycle	Investment decision principles	Investment grade
Investment grant	Investment horizon	Investment of funds method
Investment outflows	Investment outlay	Investment policy
Investment property	Investors	IOI
IOU	IPO	IPO discount
IRR	IRS	IRS rate
ISDA	Islamic finance	Issue at a discount
Issue at a premium	Issue at par	Issue discount
Issue price	Issue price of a bond	Istisna'a

LETTER J

January effect	Joint and several	Joint lead manager
Joint venture	Joint-lead	Jointly and severally
Jumbo	Jumbo bond	Jumbo issue
Junior bond	Junior debt	Junk bonds
Just in-time

LETTER K

Kanban	Kerb market	Key performance indicators
Key person insurance	Kicker	KMW
Knock-in/out	Know Your Customer	KPI
KYC

LETTER L

L/C	Laddering	Land
Large cap	Last in, first out	Last trading day
Late Delivery indemnity	LBO	LBU
Lead	Lead arranger	Lead bank
Lead director	Lead independant director	Lead manager
League table	Lease	Leasing
Legal merger	Lender led	Lender of last resort
Lending facility	Lessee	Lessor
Letter of comfort	Letter of credit, L/C	Letter of intent, LOI
Level of control	Level of ownership	Leverage
Leverage - futures contract	Leverage effect	Leverage recap
Leveraged build-up, LBU	Leveraged buy-out, LBO	Leveraged lease
Leveraged management buy-out	Leveraged recapitalisation	Leveraged share buyback
Levered beta	Levered cost of equity	Liabilities
LIBOR, London Interbank Offered Rate	Life of the bond	Life of the loan
Lifecycle of financing sources	LIFFE, Liffe	LIFO, Last in, first out
Limit order	Limitation of voting rights	Limited partner
Limited share partnerships, LSP	Liquid	Liquidated damages
Liquidation	Liquidator	Liquidity - assets
Liquidity - balance sheet	Liquidity - investments	Liquidity - liabilities
Liquidity - market	Liquidity - security	Liquidity contract
Liquidity discount	Liquidity event	Liquidity facility
Liquidity line	Liquidity preference theory	Liquidity premium
Liquidity ratios	Liquidity risk - company	Liquidity risk - market
Listed company	Listed security	Listing
Listing partner	Listing sponsor	LMA
LMBO	Loan	Loan cancellation
Loan guarantees	Loan market association	Loan to value
Lock box	Lock up period	Lock-up clause
Lockbox system	Locking in future prices or rates	LOI
London Interbank Offered Rate	Long (position)	Long-form report
Longevity swap	Lookback option	Loss rate
Loss Ratio	Love money	Low Volatility Net Asset Value
LPs	LSP	Ltv
LVNAV	LYON, Liquid Yield Option Notes

LETTER M

MAC clause	Macro-hedging	Magic chain effect
Majority interest	Make whole	Management buy-in
Management buy-out, MBO	Management control	Management fee
Management incentive package	Management mandate	Management presentation
Manager, managing bank	Managers	Managing bank
Mandate	Mandated lead arranger, MLA	Mandatory convertible bonds
Mandatory convertible preferred stock	Mandatory offer	Margin
Margin analysis	Margin call	Margin deposit
Margin grid	Margin payment	Marginal cost
Marginal rate of return	Mark-to-market	Mark-to-model
Market	Market capitalisation	Market efficiency
Market expansion	Market financing	Market flex
Market growth	Market in equilibrium	Market indicators of value creation
Market maker	Market multiples	Market operator
Market order	Market plane	Market portfolio
Market premium	Market return	Market risk
Market risk - strategic positioning of the company	Market risk premium	Market share
Market sounding	Market value	Market value added, MVA
Market window	Market-based economy	Market-takers
Marketable securities	Marketing	Markets in Financial Instruments Directive (MiFID)
Martingale	Mass production	Master agreement
Master credit agreement	Master trust	Matching hypothesis
Matching principle	Material adverse change clause	Materiality principle
Maturity	Maturity mismatch	MBI
MBO	MBS	McDonough ratios
Means of payment	Medium term note, MTN	Meme stock
Memorandum of understanding, MOU	Merchant bank	Merger
Merger accounting	Merger premium	Mergers and acquisitions
Mezzanine debt	Mezzaniner	Micro-Cap
Micro-hedging	Micro-structure of financial markets	Microcredit
Microfinance	Mid-Cap	Middle-office
MiFID (Markets in Financial Instruments)	Milestone	Mimicry
Minimum price offer	Minimum-price offering	Mining
Minority block	Minority discount	Minority interests
Minority ownerships	Minority shareholder	Minority shareholder premium
Minority value	Minsky moment	MIRR
Mirror share	Mix & match offer	Mixed offering
MLA	Model risk	Modified actuarial rate of return
Modified duration	Modified internal rate of return, Modified IRR, MIRR	Modified IRR
Modigliani-Miller theorem	Momentum	Monetary items
Money market	Money-market funds	Monoline
Monoline insurance company	Monoline insurer	Monte Carlo simulation
Moody's	Moral hazard	Moratorium
Mortality swap	Mortgage	Mortgage loan
Mortgage loan	Mortgage-Backed Securites	Most favoured nation
MOU	MTN	MTN programme
Mudharaba	Multi-criteria analysis (merger)	Multilateral Development Bank (MDB)
Multinational company	Multinational company - cost of capital	Multiple voting rights
Multiple voting shares	Multiple(s)	Multiples - valuation
Multiples method	Multiplier effect	Murabaha
Musharaka	Mutual Fund	MVA

LETTER N

NASDAQ	Natural disaster risks	Natural hedge
NAV	NBV	NDA
NDA	Negative capital employed	Negative carry
Negative covenant	Negative equity	Negative goodwill
Negative net debt	Negative pledge	Negative working capital
Negotiable European commercial paper	Negotiable European Medium Term Notes	Negotiation tactics
Net asset value	Net asset value of a fund, NAV	Net assets
Net assets per share	Net banking income	Net Book Value
Net debt	Net debt / EBITDA	Net debt / Market capitalisation
Net debt reduction	Net debt value	Net dividend
Net financial debt	Net financial expense/income	Net fixed assets
Net income	Net margin	Net pension costs
Net present value	Net profit	Net profit, Group share
Net worth	Net Written Premium	Netting
NEU CP	NEU MTN	Neural networks
New equity puzzle	New Issue Premium	New Money
New money privilege	NewCo	NIP
No-petition	Nominal	Nominal rate
Nominal value	Nominalism - principle	Nominee agreement
Non conforming loan	Non core-assets	Non Disclosure Agreement
Non investment grade, non-investment grade	Non recurrent items	Non recurring items
Non-accredited investor	Non-biding offer	Non-conforming
Non-consolidated investments	Non-controlling interests	Non-conversion premium
Non-Disclosure Agreement	Non-group interests	Non-monetary items
Non-operating assets	Non-operating working capital	Non-performing
Non-performing debt	Non-petition	Non-recourse debt
Non-recourse discounting	Non-recurring expenses	Non-recurring income
Non-utilisation fee	Non-voting shares	NOPAT
NOPAT multiple	NOPLAT	Norm-based screening
Normalised cash flow	Normalised earnings	Normative
Normative analysis	Normative cash flow	Normative margin
Normative operating working capital requirement	Normative WC	Notch
Notching	Note issuance facilities (NIF)	Notes to the accounts
Notice of Default	Notional amount	Notional interest
Notional pooling	Novation	NPV
NWP	NYMEX	NYSE

LETTER O

O/N	OBO	OCI
OECD	Off-balance sheet commitments	Off-balance sheet financing
Off-balance sheet financing techniques	Offering	Offering Circular
Offset	OGM	Oligopoly
One on one	One to one	One-stop shopping
Opco	Open price offer	Open price placement
Operating assets	Operating balance	Operating breakeven
Operating cash flow	Operating charges	Operating cycle
Operating expenses	Operating income	Operating inflows
Operating lease	Operating leverage	Operating liabilities
Operating liabilities	Operating loan	Operating margin
Operating outflows	Operating outlay	Operating payments
Operating profit	Operating receipts	Operating result
Operating revenues	Operating risk	Operating working capital
Operational efficiency	Opportunity cost	Opportunity cost of capital
Optimal capital structure	Optimal financial structure	Option
Option model	Option on option	Option premium
Option to abandon	Option to defer progress of the project	Option to develop or extend the business
Option to launch a new project	Option to postpone a project	Option to reduce or contract business
Option valuation method	Options theory	Order book
Ordinary general meeting of shareholders, OGM	Organic growth	Organic/internal growth
Organic/internal growth - rate	Organised market	Organization for Economic Co-operation and development
Orphan company	Orthodoxy	OTC
OTC market	Other comprehensive income	Other liabilities
Other operating expenses	Other operating income	Out of the money
Outside shareholders	Outsourcing	Over the counter
Over-performing	Over-the-counter market	Overall dilution
Overdraft	Overhang	Overlay bank
Overproduction	Oversubscribed	Owner Buy Out

LETTER P

P/E ratio, PER, Price-to-earnings ratio	Pac-Man	Paid-up capital
Paper	Paper bill of exchange	Paper promissory note
Par value	Parent company	Parent Company Guarantee (PCG)
Parent company regime	Parent group	Pari passu covenant
Parity	Partial commitment	Participant
Participating preference shares	Participation	Participation certificates
Participation fee	Partnership	Pass through
Passive management	Passthrough certificates	Patents
Path of wealth, POW	Pay through	Pay-in-kind securities
Pay-off -option	Pay-out	Pay-to-play
Payables	Payback period	Payback period
Payback ratio	Payment factory	Payment method
Payment term	Payout ratio	Payout ratio
PBR	PDS	PE
Pecking order theory	Peer comparison method	Pension expenses
Pension funds	PER	Percentage control
Percentage interest	Percentage of completion method	Percentage of voting rights
Perfect market	Performance bond	Performance guarantee
Performance share	Performing	Permanent financing
Permanent working capital	Perpetual bond	Perpetual subordinated loans and notes
Perpetuals	Perpetuity	PES
Petro-dollars	Pierce the corporate veil	PIK securities
Pilot fishing	PIPE	PIPE (for a SPAC)
PIPO	Pitch	Placement discount
Plain vanilla	Ploughed back	Poison pill
Political risk	Political risk insurance	Ponzi scheme
Pooling of interest method	Pooling on demand	POP
Portable alpha	Portable debt	Portfolio
Portfolio - risk of a	Portfolio insurance	Portfolio management style
Portfolio manager	Portfolio theory	Position
Positive carry	Positive covenant	Post-money
POW	PPP	Praecipium
Pragmatic valuation approach	Prcess-oriented production	Pre-emption (right of)
Pre-emptive action	Pre-emptive right	Pre-emptive subscription rights
Pre-marketing	Pre-money	Pre-pack
Preference clause	Preference for liquidity	Preference share
Preference shares	Preferential dividend	Preferred habitat theory
Preferred securities	Preferred share	Premium
Premium bond	Prepaid expenses	Prepaid income
Prepaid interest	Prepayment	Prepayment penalty
Present value	Present Value Index, PVI	Price
Price adjustment	Price to cash flow	Price-To-Book ratio, PBR
Price-to-earnings ratio	Pricing grid	Pricing of bank services
Primary dealers	Primary market	Primary tranche
Primary transaction	Prime broker	Principal
Principal-protected notes	Principle of prudence	Priority dividend shares (non-voting) (PDS)
Priority share	Private banking	Private equity
Private equity firm	Private equity sponsors	Private Initial Public Offering
Private Investment in Public Equity	Private negotiation	Private placement
Private workouts	Privileged share	Pro forma, pro forma statements
Product life cycle	Production	Production models
Production system	Profit	Profit and loss account/statement, P&L
Profit before tax and non recurrent items	Profit before tax and non recurring items	Profit generating capacity
Profit on ordinary activities	Profit sharing	Profitability
Profitability index	Program trading	Project bond
Project financing	Projected benefit obligation, PBO	Promissory note
Propco	Property leasing	Property right
Property tax	Proportional rate	Proportionate consolidation
Prospectus	Provision	Provision for employee benefits and pensions
Proxy	Public offer	Public offering
Public Offering price	Public to Private	Public-to-Private, P to P
Purchase method	Purchase warrant	Purchases
Purchasing Power Parity	Purchasing power parity theory	Pure play
Put on the seller	Put option	Put provision
Put warrant	Put-call parity	Puttable
Puttable bond	Puttable instrument	PV
PVI	Pyramid scheme

LETTER Q

Q ratio	QIB	Qualified Institutional Buyers, QIB
Qualified majority	Quantitative easing	Queuing
Quick ratio	Quorum

LETTER R

R&D	Rally	Rally - stock market
Random walk	Random walk	Range note
RAROC	Ratchet effect	Rate
Rate of discount	Rate of return	Rate structure
Rate tunnel	Rating	Rating agency
Rating grid	Rating outlook	Ratio
Ratios method	Raw material prices risk	Raw materials
RCF	Re-characterisation	Re-rating
Re-regulation	Real dilution	Real Estate Investment Trust
Real interest rate	Real options	Real rate
Real-time payments	Realised gain	Realised loss
Realised rate	Recapitalisation	Receivables
Receiver	Receivership	Recession
Recession and Working Capital	Recommended offer	Recourse
Recourse debt	Recoverable value	Recovery period
Recurrent items	Recurring items	Red Herring
Redemption	Reevaluation	Reference rate
Reference shareholder	Refinancing	Refinancing deadlock
Registered bond	Regression	Regularity
Regulated market	Regulation	Regulatory changes
Regulatory risk	Reinsurance company	REIT
Relationship Manager	Relative value ratio	Relative weight -merger
Rendez-vous clause	Repayable advance	Repayment
Repayment by equal instalments	Repayment by tranches (or series)	Repayment capacity ratio
Repayment in fine	Repayment of a bullet loan	Repayment of a loan - constant annuities
Repayment of a zero coupon loan	Replacement cost	Replenishment
Replicating portfolio	Repo, repurchase agreement	Representations
Representations and warranties	Reps and warranties	Repurchase agreement
Request For Proposal	Required rate of return	Requirements in working capital
Rerating	Rescheduling	Research and development costs, R&D
Research and development expenses	Reserve stock split	Reserved capital increase
Residential Mortgage-Backed Securities	Residual risk	Residual value
Resistance level	Resources	Restated net asset value, RNAV
Restatement	Restrictive covenant	Restructuring
Restructuring charges	Restructuring plan	Restructuring provisions
Retail investor	Retail public offering	Retained Cash Flow
Retained earnings	Retained earnings	Retainer
Return	Return on capital employed, ROCE	Return on investment
Revaluation	Revenue bonds	Revenues
Reverse enquiry	Reverse flex	Reverse repo
Reverse takeover	Revolver	Revolving credit
RFP	Right of approval	Right of first refusal
Rights issue	Risk	Risk Adjusted Return On Capital
Risk aversion	Risk manager	Risk of a fraud
Risk of default	Risk of disaster	Risk of illiquidity
Risk premium	Risk-free assets	Risk-free rate
Risk/return ratio	RM	RMBS
RNAV	ROA	Roadshow
ROCE	ROE	ROIC (Return On Invested Capital)
Rule 144A	Rump	Run-rate

LETTER S

Salam	Sale-leaseback	Sales
Sales margin	Sales multiple	Salvage value
Samurai bond	Sarbanes Oxley	SARON
Saving	SBLC	SBP
Scale problem	Scenario analysis	Scheme of arrangement
Schuldschein	Scissors effect	Scope of consolidation
Scoring - method	Scoring function	Scrip issue
SE	Seasonal activity	Seasoned equity offering, SEO
SEC	Second proposition of the Modigliani-Miller theorem	Secondary LBO
Secondary market	Secondary share offering	Secondary tranche
Secondary transaction	Securities lending	Securities placement
Securities-backed loan	Securitisation	Securitisation buy-out
Securitisation vehicle	Securitization Buy-Out	Security
Security	Security market line	Seed capital
Segmentation theory	Self-control	Self-financing/internal financing
Self-fulfilling prophecy	Self-hedging	Self-mimicry
Sell-side	Selling group	Semi-strong efficient market
Senior Banker	Senior debt	Seniority
Sensitivity	SEO	SEPA
SEPAmail	Separation theorem	Sequential pay
Series A	Series B	Series C
Service cost	Setoff	Settlement date
SFOR	Shadow rating	Share
Share buyback	Share cum debt warrant	Share exchange offer
Share purchase agreement, SPA	Share subscription warrant	Shareholder advisory board
Shareholder return	Shareholder structure	Shareholder value creation
Shareholders	Shareholders' agreement	Shareholders' equity
Shares with double voting rights	Shares with multiple voting rights	Sharpe Ratio
Shell	Shogun bond	Short (position)
Short List	Short Term European Paper	Short Term Note Issuance Facilities (SNIF)
Shotgun clause	Side business	Sight draft
Signal	Signalling theory	Significant influence
Signing	Signing fee	Silent partner
Simple majority	Single coupon	Single Euro Payment Area
Single-coupon bond	Sinking fund	SIV
Size premium	Sleeping partner	Small and Medium-sized companies
Small cap	Smart beta	Smartpool
SME	Smile (volatility)	Social Bonds Principles
Socially responsible investment	Soft call provision	Soft currency
Soft loan	Soft rationing	Software
Solvency	Solvency II	Solvency opinion
Solvency risk	Solvency-and-liquidity analysis	SONIA
SOP or SOTP	Sovereign spread	Sovereign-wealth fund
SPA	SPAC	Special method of translation
Special purpose acquisition vehicles	Special purpose vehicle	Special-purpose vehicle, SPV
Specific risk	Speculation	Speculative bubble
Speculative grade	Speculative market	Spin-off
Split	Split rating	Split-off
Split-up	Spot	Spot date
Spot market	Spot price	Spread
SPV	Squeeze-out	SRI
SRI fund	Stability principle	Stakebuilding
Stakeholders	Stand-alone valuation	Stand-by credit
Stand-by letter of credit	Standard & Poor's	Standard deviation
Standstill	Standstill agreement	Staple financing
Start-up	Start-up costs	Start-up costs
Statement of changes in financial position	Statutory Auditors	STEP
Step up bond	Stewardship	Stochastic
Stochastic process	Stock	Stock dividends
Stock Exchange	Stock market index	Stock market information
Stock options	Stock-picking approach	Straight bond
Straight line depreciation	Strategic analysis	Strategic assets (poison pills)
Strategic value	Strike price	Strip financing
Strong-efficient market	Structural subordination	Structured Investment Vehicles
Structured product	Structurer	Structurer
Stub equity	Sub-participation	Sub-prime
Subordinated	Subordinated creditors	Subordinated debt
Subordination	Subrogation	Subscription parity
Subscription right	Subscription warrant	Subscription warrant
Subsidiary	Substitute Servicer	Sukuk
Sum-of-the-parts method	Sunset provision	Super dividends
Super holding	Super profit	Supervisory Board
Supplier credit	Supply chain	Support level
Survivorship bias	Sustainability Bond Guidelines	Swap
Swap point	Swap-driven Eurobond	Swaption
Sweetener	SWIFT	Syndicate
Syndicated financing	Syndicated loan	Synergies -sharing
Synergy	Synthetic bond	Synthetic lease
Synthetic rating	Systematic internaliser	Systematic risk

LETTER T

Tag along	Take and pay contract	Take or pay contract
Takeover	Takeover bid	Tangible fixed asset
Tap issue	Tapping the reserves	Tax base
Tax loss carrybacks	Tax loss carryforwards	Tax proof
Tax rate	Tax savings	Tax shield
Teaser	Technical analysis	Technical dilution
Temporal method	Temporary differences	Tender offer
Term	Term loan	Term loan B
Term of a loan	Term out	Term sheet
Term structure of interest rates	Terminal value	Terminal value
TERP	Texan clause	The bottom-up approach is also called the stock-picking approach.
Theoretical ex-rights price	Theory of markets in equilibrium	Theta
Ticker	Tier 1	Time deposit
Time diversification	Time draft	Time value
Time value of money	Timing differences	Timing problem
TMT	Tobin's Q	Token
Toll revenue bond	Too big to fail	Toogle notes
Top-down approach	Total breakeven	Total debt service
Total return swap	Total shareholder return, TSR	Tracking stock
Tracking stock	Trade buyer	Trade confirmation
Trade finance	Trade payables	Trade receivables
Trade sale	Trade-off model	Tradegate
Trading	Trading profit	Trailing ratio
Tranche A	Tranche B	Tranche C
Transaction costs	Transaction multiples	Transaction multiples method
Transaction, the management fee is a front-end, flat percentage fee,	Transfer	Transfer of assets
Transfer pricing	Transformation	Transformation risk
Transition bond	Translation	Translation risk
Transmutation	Treasurer	Treasury
Treasury method	Treasury shares	Treasury shares
Treasury shares	Treeing	Trend analysis
Triple net lease	Triple net rent	Triple track
True sale	True sale	Trust
Trust preference shares	TSR	Turnaround capital
Turnaround capital fund	Turnover assets	Turnover liabilities
Turquoise

LETTER U

Ultra High Net Worth Individual	UNCTAD	Under-performing
Underlying asset	Undersubscribed	Underwriting
Underwriting	Underwriting fee	Underwritten deal
Undiversifiable risk	Unicorn	Unirate
Unirate loan	Unit credit method	United Nations Conference on Trade and Development
Unitranche	Unitranche debt	Universal banking
Universal Registration Document	Unlevered beta	Unlevered cost of equity
Unlimited liability	Unlisted	Unsecured
Unsolicited offer	Unwinding a position	Upgrade
Upside	Upward flex	URD
US GAAP	US Private Placement	USPP

LETTER V

Valuation	Value	Value added
Value and corporate governance	Value and financial securities	Value at risk
Value chain	Value creation	Value Date
Value destruction	Value drivers	Value of Business in Force
Value of economic assets	Value of tax savings	Value stock
Value transfer	Value-added tax (VAT)	VAR
Variable costs	Variable depreciation	Variable Net Asset Value
Variable rate	Variable remuneration	Variance
Variance Swap	VBI	VDD
Vega	Vehicle	Venture capital
Venture capital method	Venture capitalist	Vesting
Vesting period	Veto	Virtual stock exchange
VIX	VNAV	Volatility
Volatility - bonds	Volatility - dividends	Volatility risk
Volume growth	Volume-weighted average price	Volumes
Voting rights	Vulture fund	VWAP

LETTER W

WACC	Wait and see option	Waiver
Waiver fee	Wakala	WAL
WAP method	Warehousing agreement	Warehousing certificate
Warm up	Warm-up	Warrant
Warrant kicker	Warranties	Warranty bond
Warranty for defects	Watch	Weak currency
Weak-form efficient market	Wealth	Weather derivative
Weekend effect	Weighted average cost	Weighted Average Cost of Capital, WACC
Weighted Average Life	Weighted average price method	Whistle blower
White knight	White paper	White paper
Wholly-owned subsidiary	Wilson formula	Windfall profit
Window dressing	Winners' curse	Withholding tax
Without recourse	Work out	Work-in-progress
Working capital	Working capital needs	Working capital requirements
Working capital turnover ratios	Wrap	Write-downs

LETTER X

XBRL

LETTER Y

Yankee bond	Yield	Yield curve
Yield spread	Yield stock	Yield to maturity, YTM
Yieldco	YTM

LETTER Z

Z-score	ZBA	Zero Balance Account
Zero balance account, ZBA	Zero cash	Zero coupon
Zero-coupon bond	Zero-coupon bond	Zero-coupon bond
ZOPA

LETTER �

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