Investment banking

Investment banking

Of or relating to the business of underwriting, or acting as the client's agent, in the issuance of securities in order to assist an individual, commercial enterprise, corporation or government instution ro raise capital.

Industry: Banking

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Investment banking

Credit facility secured by mortgage

Banking; Investment banking

Current account loan secured by a maximum-sum mortgage or pledge on a mortgage deed.

Cumulative preference share (GB); cumulative preferred share (US)

Banking; Investment banking

Preference share on which unpaid dividends accumulate until they can be paid. In the case of limited cumulative preferred shares the number of years in which dividends may accrue is limited.

Renewal

Banking; Investment banking

The act or process of transforming or extending a credit agreement, whereby the old debt is cancelled by the establishment of a new one. With current accounts this can be achieved by determining the ...

Spot next

Banking; Investment banking

Abbr.: SN. Swap transaction involving the purchase of currency for delivery on the working day after the spot date.

Below par

Banking; Investment banking

Term that indicates that the price of a security is lower than its nominal value. Opposite: above par.

Interest margin

Banking; Investment banking

(1) The difference between the interest earned by a bank and the interest paid by it. (2) The difference between the interest rates in a particular sector of the banking business, e.g. between the ...