A slang term used to describe a small amount of money that is considered to be inadequate for its intended purpose. A shoestring can be used in a number of idioms, such as: "The company financed that last project on a shoestring," or "Jim is living off of a shoestring budget." Although a shoestring budget is considered inadequate, it may just be enough for an individual to live on or for a company to profit from a project. For companies, a particular project's return on investment would be much greater, due to the lower initial cost.
The procedure by which an organization acts as an intermediary and assumes the role of a buyer and seller for transactions in order to reconcile orders between transacting parties. Taobiz explains Clearing Clearing is necessary for the matching of all buy and sell orders in the market. It provides smoother and more efficient markets, as parties can make transfers to the clearing corporation, rather than to each individual party with whom they have transacted.
Fiscal drag is an economics term referring to a situation where a government's net fiscal position (equal to its spending less any taxation) does not meet the net savings goals of the private economy. This can result in deflationary pressure attributed to either lack of state spending or to excess taxation. One cause of fiscal drag is the consequence of expanding economies with progressive taxation. In general, individuals are forced into higher tax brackets as their income rises. The greater tax burden can lead to less consumer spending. For the individuals pushed into a higher tax bracket, the proportion of income as tax has increased, resulting in fiscal drag. Fiscal drag is essential a drag or damper on the economy caused by lack of spending or excessive taxation. As increased taxation slows the demand for goods and services, fiscal drag results. Fiscal drag is a natural economic stabilizer, however, since it tends to keep demand stable and the economy from overheating. Because it is an economic stabilizer, fiscal drag can influence economic equality among citizens of the same region.
A single corporation created by the U.S. Treasury and the Export-import Bank of the U.S. that facilitates funding of exports that have not been subsidized. The PEFCO does this with the purchase of loans in the secondary market from commercial lenders. The loans are then used to finance U.S. exports. |||The PEFCO was created to help American-made goods find their way into other countries. PEFCO loans are guaranteed by the Export-import Bank of the United States. Some of the shareholders in PEFCO include large commercial banks that participate in financing U.S. exports, as well as industrial export companies.
The final price at which a security is traded on a given trading day. The closing price represents the most up-to-date valuation of a security until trading commences again on the next trading day. Taobiz explains Closing Price Most financial instruments are traded after hours (although with markedly smaller volume and liquidity levels), so the closing price of a security may not match its after-hours price. Still, closing prices provide a useful marker for investors to assess changes in stock prices over time - the closing price of one day can be compared to the previous closing price in order to measure market sentiment for a given security over a trading day.
A temporary restriction placed on the trading of index futures because of substantial intraday decreases in the underlying indexes. Shock absorbers are very similar to circuit breakers. However, these restrictions are more specific as they isolate a single index and are enacted at a tighter level. The shock absorbers restrict trading and provide a period of information and pricing absorption for the holders of index futures contracts.
A U.K. tax allowance that permits British corporations to claim on eligible plan or machinery purchases. The allowance can only be claimed during the first year of the equipment purchase. The allowance helps corporations offset a portion of their taxable profits and can help ease the strain on a company's cash flow. This allowance replaces a standard U.K. write-down allowance previously available to small and medium-sized businesses. The British government permits first-year allowances for different types of capital investments including computer and internet technology as well as energy-saving ("green") inputs. The allowable allowance can vary widely, between 6% and 100%.
An institution created by the Federal Reserve to provide overnight loans to primary dealers through their clearing banks in exchange for eligible collateral. The Primary Dealer Credit Facility (PDCF) provides loans that settle the same business day and mature the following business day. As of February 3, 2009, the PDCF will remain in operation until October 30, 2009. |||The Primary Dealer Credit Facility was established in order to encourage financial markets to function more effectively. Primary dealers borrow overnight loans from the PDCF through their clearing banks at the primary credit rate offered by the Federal Reserve Bank of New York. A frequency-based fee is assigned to primary dealers who borrow from the PDCF on more than 45 business days.
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