financial intermediary
81Back-End Load — A fee (sales charge or load) that investors pay when selling mutual fund shares within a specified number of years, usually five to 10 years. The fee amounts to a percentage of the value of the share being sold. The fee percentage is highest in… …
82Certificates Of Accrual On Treasury Securities - CATS — Issued by the U.S. Treasury and stripped by a financial intermediary, these products are sold at a significant discount from face value and pay no interest during their lifetime. However, they return full face value and cannot be called away.… …
83Factor — 1. A financial intermediary that purchases receivables from companies. 2. In terms of mortgages, the ratio of principal outstanding to the original balance. 1. The sale of accounts receivables is called factoring …
84Manager Of Managers - MOM — A class of financial intermediary that hires professional investment managers to oversee aspects of a client s investment fund. More specifically, the MOM tracks the performance of each investment manager and has the power to fire ineffective… …
85Pension Fund — A fund established by an employer to facilitate and organize the investment of employees retirement funds contributed by the employer and employees. The pension fund is a common asset pool meant to generate stable growth over the long term, and… …
86Registered Retirement Income Fund - RRIF — A retirement fund similar to an annuity contract that pays out income to a beneficiary or a number of beneficiaries. To fund their retirement, RRSP holders often roll over their RRSPs into an RRIF. RRIF payouts are considered a part of the… …
87Retail Note — A medium term, subordinated, unsecured debt obligation usually issued by a multinational corporation. Retail notes can be purchased directly from the issuer at par in $1,000 increments with no accrued interest or added markups. They will usually… …
88maturity transformation — The term economists use to describe the activity of a financial intermediary that accepts deposits or investments of one term (usually short) and places those funds with a debtor in another term (usually intermediate or long term). American… …
89custody fees — Amount charged by a financial intermediary for administering a securities account. Euroclear Clearing and Settlement glossary …
90currency warrant — A warrant based on an underlying Exchange Rate. Custody fee Amount charged by a financial intermediary for administering a securities account. NYSE Euronext Glossary Automatically expires at the end of the day s standard market trading session if …
