an agency
121agency — noun /ˈeː.ʤən.si/ a) The faculty of acting or of exerting power; the state of being in action; action; instrumentality. The superintendence and agency of Providence in the natural world. Woodward. b) The office of an agent, or factor; the… …
122Agency Bond — A bond issued by a government agency. These bonds are not fully guaranteed in the same way as U.S. Treasury and municipal bonds. These bonds do not include those issued by the U.S. Treasury or municipalities. They include such agencies as Fannie… …
123Agency Cost Of Debt — A problem arising from the conflict of interested created by the separation of management from ownership (the stockholders) in a publicly owned company. Corporate governance mechanisms, such as boards of directors and the issuance of debt, are… …
124Agency Problem — A conflict of interest arising between creditors, shareholders and management because of differing goals. For example, an agency problem exists when management and stockholders have conflicting ideas on how the company should be run …
125Agency Theory — A theory concerning the relationship between a principal (shareholder) and an agent of the principal (company s managers). Agency theory is a very academic term. Essentially it involves the costs of resolving conflicts between the principals and… …
126Agency bank — A form of organization commonly used by foreign banks to enter the U.S. market. An agency bank cannot accept deposits or extend loans in its own name; it acts as agent for the parent bank. The New York Times Financial Glossary …
127Agency basis — A means of compensating the broker of a program trade solely on the basis of commission established through bids submitted by various brokerage firms. agency incentive arrangement. A means of compensating the broker of a program trade using… …
128agency fund — A fund normally used to account for assets held by a government as an agent for individuals, private organizations or other governments, and/or other funds. The agency fund also is used to report the assets and liabilities of Internal Revenue… …
