The average interest rate which major London banks borrow Eurocurrency deposits from other banks. LIBID is calculated through a survey of London banks to determine the interest rate which they are willing to borrow large eurocurrency deposits. |||Unlike LIBOR, which is determined by the average interest rate which banks are willing to lend eurocurrency deposits, LIBID refers to the rate which banks bid to borrow.
A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. For example, a bank may be able to offer you not only personal banking services and loans, but also investment advice, investment vehicles and insurance policies. Compared to visiting a separate institution for each area of need, the "one-stop shop" saves the consumer a lot of time and effort.
A signficant order placed for sale or purchase of a large number of securities. Block orders are often used by institutional investors. Also known as a "Block Trade". Taobiz explains Block Order Typically, a 10,000 share order (excluding penny stocks) or $200,000 worth of fixed-income securities would consititue a block order. When a trader wants to unload his or her securities quickly they will often sell them at a discount, aptly named a "blockage discount".
Buying a security with the intention of holding it for the long term, but subsequently panicking and selling it the following day. An investor sells out the following day typically because of bad news or a sudden change in long-term expectations.
A lending risk assessment ratio that financial institutions and others lenders examine before approving a mortgage. Typically, assessments with high LTV ratios are generally seen as higher risk and, therefore, if the mortgage is accepted, the loan will generally cost the borrower more to borrow or he or she will need to purchase mortgage insurance.Calculated as: |||For example, Jim needs to borrow $92,500 to purchase a $100,000 property. The LTV ratio yields a value of about 92.5%. Since bankers usually require a ratio at a maximum of 75% for a mortgage to be approved, it may prove difficult for Jim to get a mortgage.Similar to other lending risk assessment ratios, the LTV ratio is not comprehensive enough to be used as the only criteria in assessing mortgages.
A type of credit derivative in which the credit exposure of an underlying loan is swapped between two parties. A loan credit default swap's structure is the same as a regular credit default swap, except that the underlying reference entity is limited strictly to syndicated secured loans, rather than any loan or bond. Also know as a "loan-only credit default swap". |||As with regular CDS, these derivatives can be used to hedge against credit exposure the buyer may have or to obtain credit exposure for the seller. These products can also be used to make bets on the credit quality of an underlying entity to which parties have not had previous exposure. It is important to understand why LCDS are broken out separately from CDS. The fact that the reference loans are secured leads to higher recovery values if those loans default. As a result, LCDS generally trade at tighter spreads.
When brokerage firms ensure anonymity to both the buyer and the seller in a transaction. In the ordinary course of securities trading, most brokerage transactions are "blind". Exceptions occur for broker/dealers or others acting as both broker and principal on a given trade Taobiz explains Blind Brokering Disclosure to either the buying or selling party of the identity of the other is not the norm in public securities trading, except in some cases of privately arranged transactions. The only exception to this is when the broker is a principal and selling securities from its own inventory to a customer of the firm. In this case, disclosure is required due to a possible conflict of interest.
An eighteenth century nickname for the Bank of England. The full name is the Old Lady of Threadneedle Street, which refers to the bank's location. The Bank of England is located in the middle of the city of London on Threadneedle Street. James Gillray first used the nickname in a caricature cartoon in 1797. The cartoon was entitled "The Old Lady of Threadneedle Street in Danger", which some say pokes fun of the Bank of England for stopping cash payments. The Old Lady is seen dressed in one-pound bank notes, which the Bank of England used to compensate for the lack of cash reserves.
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