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Pass-Through Certificate
DefinitionA pass-through certificates is an instrument that evidences the ownership of two or more equipment trust certificates. In other words, equipment trust certificates may...
Backing Away
What is 'Backing Away' Failure by a market maker in a security to honor the quoted bid and ask prices for a...
Lagging Indicator
What is a 'Lagging Indicator' A lagging indicator is a measurable economic factor that changes only after the economy has begun to...
Short Position
DefinitionIn finance, a short sale is the sale of an asset that the seller does not own. The seller effects such a sale by...
Tangible Cost
What is ‘Tangible Cost'
A quantitative expense that can be traced back to a specific source or item. Tangible costs are expenditures incurred as a...
Dealer
What is a 'Dealer' A dealer is a person or firm in the business of buying and selling securities for their own...
Vendor Take-Back Mortgage
Home Ownership by Country Vendor Take-Back Mortgage What is a 'Vendor Take-Back Mortgage' A vendor take-back mortgage is a type of mortgage...
Lease Balance
What is 'Lease Balance' The amount of money that a customer owes under the terms of a vehicle lease contract. The lease...
Leakage
What is a 'Leakage' Leakage is a situation in which capital, or income, exits an economy or system rather than remaining within...
Lead Underwriter
What is 'Lead Underwriter' A investment bank or other financial outfit that has the primary directive for organizing an initial public stock...