balance-sheet liability
31asset and liability management committee — ALCO A senior management committee of a bank or financial institution that has overall responsibility for setting and overseeing risk control policies in relation to the balance sheet (see asset liability management; gap analysis). In some cases… …
32Asset-Liability Committee - ALCO — A risk management committee in a bank or other lending institution that generally comprises the senior management levels of the institution. The ALCO s primary goal is to evaluate, monitor and approve practices relating to risk due to imbalances… …
33Deferred Long-Term Liability Charges — A collection of future company liabilities that will typically be summed up and shown as one line item on the balance sheet. The charges are most often made up of deferred tax liabilities that are to be paid more than one year in the future;… …
34Non-Interest-Bearing Current Liability - NIBCL — A category of debt entered on the liabilities side of a balance sheet under current liabilities. While a NIBCL is debt, representing a sum of money that the company owes and must pay within one year, it does not require interest payments. Here… …
35transition obligation — An off balance sheet liability created under FAS 87 rules when the PBO exceeds the amount of pension plan assets as of the date that FAS 87 rules are implemented. The amount of the off balance sheet liability is the amount of the shortfall. This… …
36prior service costs — Costs that arise from amendments to defined benefit pension plans that retroactively increase benefits. In rare cases, retroactive amendments that decrease benefits can create negative prior service costs. Under FAS 87 rules, these costs are not… …
37Debt levels and flows — Public debt as a percent of GDP (2010) …
38unrecognized initial net loss — The current unamortized balance, as of the financial statement date, of the off balance sheet liability for the initial transition obligation in a defined benefit pension plan. FAS 87 requires that this amount be disclosed in a footnote to the… …
39unrecognized prior service costs — The current unamortized balance, as of the financial statement date, of the off balance sheet liability for prior service costs in a defined benefit pension plan. FAS 87 requires that this amount be disclosed in a footnote to the financial… …
40Claims Reserve — The claims reserve is money that is earmarked for the eventual claim payment. The claims reserve funds are set aside for the future payment of incurred claims that have not been settled and thus represent a balance sheet liability. Claims… …
