Undersubscribed
What is 'Undersubscribed' A situation in which the demand for an initial public offering of securities is less than the number of shares issued. Also known as an "underbooking". Explaining 'Undersubscribed' Typically, the goal of a public offering is to price the security issue at the exact price at which all the issued shares...
Umpire Clause
What is 'Umpire Clause' The language in an insurance policy that provides for a means of resolution by an unbiased third party if an insurer and an insured cannot agree on the amount of a claim payment. An umpire clause is the same thing as an arbitration clause. The arbitration process requires both the insurance company and...
Undertakings For The Collective Investment Of Transferable Securities (UCITS)
What is the 'Undertakings For The Collective Investment Of Transferable Securities - UCITS' The Undertakings for the Collective Investment of Transferable Securities (UCITS) is a regulatory framework of the European Commission that creates a harmonized regime throughout Europe for the management and sale of mutual funds. UCITS funds can be registered in Europe and sold to investors...
UNC Kenan-Flagler Business School
What is 'UNC Kenan-Flagler Business School' The business school of the University of North Carolina. The Kenan-Flagler School offers both graduate and undergraduate degrees as well as doctoral programs. The school was ranked among the best by BusinessWeek magazine and has the only MBA program in existence that devotes an entire quarter to leadership training. ...
Unaudited Opinion
What is an unaudited opinion An unaudited opinion is a statement from an auditor that expresses whether or not financial statements are free of material misstatement. An unaudited opinion does not guarantee that the financial statements are clean, but it does add credibility to the statements. Many investors and creditors will only do business with companies that have received an...
U.S. League Of Savings Institutions
What is 'U.S. League Of Savings Institutions' A now-defunct nationwide organization of savings institutions. The U.S. League of Savings Institutions was created to promote standards of professionalism and congressional lobby influence. It also spearheads public education and deals with federal regulatory authorities. Explaining 'U.S. League Of Savings Institutions' The earliest version of the U....
Uncovered Interest Arbitrage
DefinitionUncovered interest arbitrage is an arbitrage trading strategy whereby an investor capitalizes on the interest rate differential between two countries. Unlike covered interest arbitrage, uncovered interest arbitrage involves no hedging of foreign exchange risk with the use of forward contracts or any other contract. The strategy involves risk, as an investor exposed to exchange rate fluctuations is speculating that...
Uncommitted Facility
What is 'Uncommitted Facility' An uncommitted facility is an agreement between a lender and a borrower where the lender agrees to make short-term funding available to the borrower; this is in contrast to a committed facility that involves clearly defined terms and conditions set forth by the lending institution and imposed on the borrower. Uncommitted facilities are...
Unbanked
DefinitionThe unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available. Unbanked What is 'Unbanked' A slang term for people who do not use banks or banking institutions in any capacity. Unbanked persons generally pay for things...
Undercapitalization
Why Is Undercapitalization a Problem? And How You Can Fix It Undercapitalization is a condition in which a business does not have enough funds to meet its current operational needs. It results in negative cash flow and can lead to bankruptcy. In this article, we'll examine why undercapitalization is a problem, and how you can fix it. Despite the problems...