Datasets:
sohomghosh
/
FinRAD_Financial_Readability_Assessment_Dataset

Dataset card Data Studio Files Community
1
terms
stringlengths
1
156
definitions
stringlengths
3
4.2k
source
stringclasses
15 values
assigned_readability
int64
0
1
flesch_reading_ease
float64
-301.79
121
flesch_kincaid_grade
float64
-3.5
55.6
smog_index
float64
0
26.5
coleman_liau_index
float64
-33.81
51.4
automated_readability_index
float64
-6.9
65
dale_chall_readability_score
float64
0.1
35.3
linsear_write_formula
float64
-0.5
73
gunning_fog
float64
0.4
56
NAMED PERIL COVER
See NAMED PERIL POLICY.
palgrave
0
50.5
7.2
0
4.35
4.1
15.68
2
11.6
NAMED PERIL POLICY
An INSURANCE POLICY that provides coverage only for PERILS that are specifically enumerated in the policy; coverage is thus much narrower than it is under an ALL RISKS POLICY, although the corre- sponding PREMIUM payable by the INSURED to the INSURER is smaller. Also known as NAMED PERIL COVER.
palgrave
0
38.15
14
0
11.67
14.6
11.3
17.75
16.33
NARROW MARKET
A market in a financial ASSET or COMMODITY that is not actively traded.
palgrave
0
41.36
10.7
0
7.7
6.5
10.35
8.5
14.43
NARROW MONEY
The narrow definition of MONEY SUPPLY, often meas- ured through M1. See also BROAD MONEY.
palgrave
0
63.86
6.2
0
7.79
5.9
9.27
3.25
5.67
NASD
See NATIONAL ASSOCIATION OF SECURITIES DEALERS.
palgrave
0
-27.68
18.6
0
18.78
14.5
14.46
5
22.4
NASDAQ 100
A BENCHMARK technology INDEX comprised of 100 LARGE CAP STOCKS in the technology sector. The index can be traded directly through EXCHANGE-TRADED FUNDS and DERIVATIVES.
palgrave
0
41.87
10.5
0
14.54
11.9
11.2
7.75
9.8
NATIONAL ASSOCIATION (N.A.)
In the United States, a term appended to certain federally chartered BANKS, which are required by REGULATORS to include the term “national” in their names.
palgrave
0
46.1
13
0
12.71
15.8
10.56
16.5
16.4
NATIONAL BANK
In the United States, a BANK that holds a Federal charter and is a part of the FEDERAL RESERVE SYSTEM and the FEDERAL DEPOSIT INSURANCE CORPORATION.
palgrave
0
45.09
13.4
0
9.99
13.8
9.18
18
15.02
NATIONAL DEBT
The cumulative total of a country’s borrowing, both domes- tically and offshore, which arises from annual deficit spending. Responsibility for managing the national debt is generally assigned to a country’s CENTRAL BANK or monetary authority.
palgrave
0
28.33
13.7
0
16.06
15.3
13.53
13.25
17.29
NATIONAL MARKET SYSTEM (NMS)
In the United States, an electronic sys- tem created in 1975 to link different STOCK EXCHANGES, giving INVESTORS access to consolidated information on the prices of individual STOCKS. NMS continues to provide, through its Intermarket Trading System, access to price and volume data.
palgrave
0
32.73
14
0
14.16
15.6
12.78
14.75
15.11
NATIONALIZATION
A process where a government assumes control of a specific company or sector in order to achieve specific political or economic goals. See also EXPROPRIATION, PRIVATIZATION.
palgrave
0
24.44
13.1
0
14.2
11.9
10.96
10.5
12.89
NATURAL
See CLEAN.
palgrave
0
120.21
-3.1
0
-7.41
0.8
0.1
0
0.8
NAV
See NET ASSET VALUE.
palgrave
0
75.88
3.7
0
0
0.6
7.78
1
1.6
NBBO
See NATIONAL BEST BID AND OFFER.
palgrave
0
73.85
4.5
0
4.28
2.8
6.57
3
9.07
NCD
See NEGOTIABLE CERTIFICATE OF DEPOSIT.
palgrave
0
32.56
10
0
16.56
13.1
10.2
3.5
18
NEAR MONEY
ASSETS that are nearly equivalent to cash, meaning they can be liquidated immediately at carrying value, but which still generate a small YIELD or RETURN. Common examples of near money include short-term GOVERNMENT BILLS, COMMERCIAL PAPER, BANKER’S ACCEPTANCES, and sight DEPOSITS. See also L, M0, M1, M2, M3.
palgrave
0
46.78
10.7
13
12.53
12.3
11.34
11
13.07
NEARBY CONTRACT
The current, or closest, EXCHANGE-TRADED DERIVATIVE on a reference ASSET, generally the most LIQUID until several days or weeks prior to EXPIRY, when participants often begin rolling posi- tions into the NEXT . Also known as FRONT MONTH, PROMPT MONTH.
palgrave
0
43.22
12.1
0
12.94
13.9
11.49
13
11.9
NEGATIVE AMORTIZATION LOAN
A LOAN where the periodic payment made is less than the INTEREST being charged, and where the difference is added to the outstanding PRINCIPAL balance. Negative amortization loans are specifically agreed between BORROWER and LENDER, and are often associ- ated with certain types of MORTGAGES, such as a GRADUATED PAYMENT MORTGAGE.
palgrave
0
37.13
14.4
0
14.16
17.2
11.09
18.25
18.04
NEGATIVE BASIS
(1) A market state where the price of the cash or SPOT MARKET SECURITY is below the price of the underlying FUTURES CONTRACT.NEGATIVE BASIS TRADE.
palgrave
0
46.1
13
0
10.39
14.1
9.3
15.5
14.8
NEGATIVE BASIS TRADE
An ARBITRAGE TRADE created when a NEGATIVE BASIS exists between a REFERENCE CREDIT’s CREDIT DEFAULT SWAP (CDS) and its BOND. Under this strategy an INVESTOR can buy the bond and buy the CDS, earning a POSITIVE CARRY.
palgrave
0
52.7
10.5
0
10.15
10.7
11.38
12.25
13.89
NEGATIVE CARRY
Any transaction or TRADE where the RETURNS gener- ated by an ASSET are smaller than the costs of financing and storing the asset. See also CARRY, CARRY TRADE, POSITIVE CARRY.
palgrave
0
56.25
9.1
0
9.21
8.8
9.64
8
10
NEGATIVE CONVEXITY
A characteristic of certain financial ASSETS where losses are greater, and gains are smaller, than those of linear CONTRACTS or those with POSITIVE CONVEXITY. SHORT OPTIONS and certain types of MORTGAGE-BACKED SECURITIES (e.g., INTEREST-ONLY STRIPS) feature nega- tive convexity. See also NEGATIVE GAMMA, NONLINEAR INSTRUMENT.
palgrave
0
30.87
12.7
14.1
16.7
15.6
13.85
11.166667
14
NEGATIVE EQUITY
(1) A financial state when the value of an ASSET is worth less than the amount of financing used to acquire the asset, e.g., a property whose value is less than the MORTGAGE. (2) See NEGATIVE NET WORTH.
palgrave
0
49.83
15.8
0
6.98
18
10.09
23
19.41
NEGATIVE GAP
A general measure of a company’s exposure to INTEREST RATE REPRICING RISK. A negative gap arises when RATE SENSITIVE LIABILITIES reprice faster than its ASSETS (e.g., have shorter DURATION), and means the firm will experience a loss if rates rise and a gain if rates fall. Also known as LIABILITY SENSITIVE. See also GAP, GAPPING, POSITIVE GAP.MOMENTUM TRADING.
palgrave
0
48.3
10.1
13.4
11.24
10.5
11.16
10.5
13.39
NEGATIVE NET WORTH
A financial state where the value of an individual’s or company’s LIABILITIES exceed the value of ASSETS, indicating a state of INSOLVENCY. Also known as NEGATIVE EQUITY.
palgrave
0
23.93
13.3
0
12.4
10.4
10.15
10.75
17.25
NEGATIVE OBLIGATION
The duty for a SPECIALIST or MARKET MAKER dealing in a COMMON STOCK not to take one side of an ORDER on a pro- prietary basis when it can be matched directly with another order. See alsoAFFIRMATIVE OBLIGATION, INTERPOSITIONING.
palgrave
0
43.22
12.1
0
10.21
11.2
9.46
12.75
12.93
NEGATIVE PLEDGE
A COVENANT in a LOAN agreement or BOND INDENTURE that prohibits a BORROWER from pledging unencumbered ASSETS in support of new FINANCING unless existing debt holders remain equally secured and/or their seniority rankings remain unchanged. If a bor- rower violates the negative pledge, existing debt holders can generally demand repayment of their funds.
palgrave
0
27.66
16
0
15.38
18.6
13.29
18.75
18.15
NEGATIVE WORKING CAPITAL
A financial state where a company’s CURRENT LIABILITIES exceed its CURRENT ASSETS. Negative working cap- ital generally indicates the presence of LIQUIDITY problems, since insufficient assets exist to cover obligations coming due. See also NET WORKING CAPITAL, POSITIVE WORKING CAPITAL.
palgrave
0
15.68
14.4
14.6
16.81
14.3
11.4
10.666667
15.32
NEGATIVE YIELD CURVE
A TERM STRUCTURE where short-term INTEREST RATES are higher than long-term interest rates. A negative curve may be caused by strong demand for short-term CREDIT, high INFLATION, and/or weak INVESTOR confidence. Also known as INVERTED YIELD CURVE. See also FLAT YIELD CURVE, KINKED YIELD CURVE, POSITIVE YIELD CURVE, YIELD CURVE.
palgrave
0
67.25
7
10.7
12.69
11.1
8.99
7
9.8
NEGLIGENCE
A failure to use reasonable care or diligence in executing a particular action or duty, and which may lead to particular damages. See alsoDUTY OF CARE.
palgrave
0
49.82
9.5
0
9.27
7.9
9.14
8
11.35
NEGOTIABLE INSTRUMENT
A written order, such as a BILL OF EXCHANGE, PROMISSORY NOTE, or CHECK, which is signed by the endorser as beingpayable to the holder/bearer without conditions. See also NONNEGOTIABLE INSTRUMENT.
palgrave
0
56.25
9.1
0
12.87
12.1
8.59
11
14
NEGOTIATED SWAP
A CORPORATE FINANCE transaction involving an exchange of ASSETS (e.g., a SUBSIDIARY, company, or block of SHARES) between two parties. Use of a negotiated swap is an efficient way for a firm to substitute assets that it no longer requires for others that may represent a better strategic fit.
palgrave
0
46.61
12.8
0
10.86
14.3
11.3
16.25
15.51
NEGOTIATED UNDERWRITING
A noncompetitive UNDERWRITING of a NEW ISSUE of SECURITIES where the ISSUER and UNDERWRITER agree in advance on an appropriate UNDERWRITING SPREAD, deal size, and distribu- tion strategy. See also COMPETITIVE BID UNDERWRITING.
palgrave
0
20.89
14.4
0
15.66
14.5
10.2
12.75
15.08
NESTED OPTION
See COMPOUND OPTION.
palgrave
0
59.97
5.6
0
7.32
8.3
14.31
0.5
1.2
NET ASSET VALUE (NAV)
The per SHARE market price of a MUTUAL FUND or CLOSED-END FUND, generally based on the previous day’s closing prices for the underlying ASSETS held in the fund. NAV can be computed via:where SecMV is the MARKET VALUE of quoted SECURITIES in the PORTFOLIO, Cash is cash on hand, AI is ACCRUED INTEREST, Liab is LIABILITIES, and OS is the number of outstanding SHARES in the fund.
palgrave
0
45.93
15.2
0
9.53
17.3
11.66
21.75
19.37
NET ASSETS
In the United Kingdom, total ASSETS less CURRENT LIABILITIES. In other jurisdictions the net assets computation also deducts from total assets all medium- and long-term liabilities.
palgrave
0
24.44
13.1
0
15.53
13.3
9.14
7.5
9.82
NET BOOK VALUE
The value of an ASSET on the corporate BALANCE SHEET, typically reflecting the original cost of purchase or the latest valuation, less accumulated DEPRECIATION. Also known as BOOK VALUE, DEPRECIATED VALUE.
palgrave
0
21.9
14.1
0
14.21
12.9
10.52
11.75
16.52
NET BORROWED RESERVES
In the United States, the amount a BANK has borrowed from the FEDERAL RESERVE SYSTEM minus the amount of RESERVES it holds above the required minimum. See also NONBORROWED RESERVES.
palgrave
0
64.71
8
0
10.95
9.9
9.64
8
10
NET CAPITAL
A company’s NET WORTH less any additional deductions taken to reflect difficulty in selling ASSETS at their stated value. See also RATIO.
palgrave
0
34.93
11.1
0
11.58
8.9
10.64
6.5
11.67
NET CAPITAL RATIO
In the United States, a measure of LEVERAGE applied by the SECURITIES AND EXCHANGE COMMISSION to BROKER/DEALERS that limits to 15 times the ratio of indebtedness to LIQUID ASSETS. See alsoNET CAPITAL.
palgrave
0
46.78
10.7
0
12.35
11.4
11.34
10.5
10.15
NET CURRENT ASSETS
See WORKING CAPITAL.
palgrave
0
34.59
9.2
0
7.32
8.3
9.05
1.5
1.2
NET EARNINGS
See NET INCOME.
palgrave
0
93.81
0.9
0
-2.38
0.5
0.15
0.5
1.2
NET INCOME
The final result of a company’s operations, prior to distribu- tion of DIVIDENDS or allocation to RETAINED EARNINGS. Net income can be computed as OPERATING REVENUE less OPERATING EXPENSE less INTEREST and TAXES. Also known as NET EARNINGS, NET PROFIT.
palgrave
0
41.06
10.8
12.5
11.88
10.3
11.4
8.333333
12.32
NET INTEREST MARGIN
In banking, a measure of the INCOME differential between interest-generating ASSETS (e.g., LOANS, FIXED INCOME SECURITIES) and interest-bearing LIABILITIES required to fund the assets (e.g., DEPOSITS, REPURCHASE AGREEMENTS, BONDS), generally computed as:NIM = II – IEwhere II is INTEREST INCOME and IE is INTEREST EXPENSE.The larger the NIM, the greater the profitability of core banking operations. Also known as INTEREST RATE MARGIN.
palgrave
0
15.14
18.7
0
16.66
22.7
13.43
22
18.76
NET INVESTMENT
The total within an economic system of new CAPITAL INVESTMENTS less DEPRECIATION on existing investment.
palgrave
0
13.95
15
0
16.52
14.3
12.8
13.5
19.33
NET LEASE
A form of LEASE in which the LESSEE is responsible for pay- ing the LESSOR lease rental payments as well as general EXPENSES, mainten- ance, and TAXES. CAPITAL LEASES are typically created as net leases, while OPERATING LEASES are not. See also GROSS LEASE.
palgrave
0
56.55
9
11.9
9.27
8.8
10.11
8.666667
10.43
NET LINE LIMIT
The maximum amount of INSURANCE an INSURER will write on a given LINE of RISK; a limit is used to control the insurer’s exposure and cap potential losses.
palgrave
0
43.06
14.2
0
8.88
14
10.66
20
19.77
NET LOSS
In INSURANCE, the actual loss sustained by an INSURER in meet- ing an INSURED’s CLAIMS, after taking account of REINSURANCE coverage and any amounts recovered via SUBROGATION or ABANDONMENT.
palgrave
0
25.12
17
0
14.92
19.4
12.7
22.5
22.63
NET NATIONAL PRODUCT (NNP)
The total of a country’s GROSS NAT- IONAL PRODUCT less DEPRECIATION on capital goods, where depreciation reflects the amount that must be invested on new capital goods to maintain the same level.TAXES.
palgrave
0
30.54
17
0
13.41
19.6
10.65
22
15.3
NET POSITION
The difference between a LONG POSITION and a SHORT POSITION in the same ASSET or SECURITY.
palgrave
0
46.78
10.7
0
9.28
8.7
7.39
12
11.4
NET PREMIUM
The total amount of an INSURER’s PREMIUMS less premium ceded for any REINSURANCE cover. Also known as WRITTEN, NET WRITTEN PREMIUM. See also FAIR PREMIUM, GROSS PREMIUM.where CFt is the expected cash flow at time t, r is the discount rate, n is the number of periods, and I0 is the original cost of the investment. Under NPV in general, if NPV > 0 the investment is expected to create shareholder value and should be accepted; if NPV < 0 the investment should be rejected, and if NPV = 0, then the company should be indifferent. See also PRESENT VALUE, FUTURE VALUE.
palgrave
0
51.38
11
14.6
8.88
10.6
8.77
14
12.77
NET PROFIT
See NET INCOME.
palgrave
0
93.81
0.9
0
-2.38
0.5
0.15
0.5
1.2
NET PROFIT MARGIN
A measure of a company’s ability to transform its REVENUES into NET INCOME, typically calculated as:where EBITDA is EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION, Tax is taxes paid, and Rev is revenues.The greater the net profit margin, the stronger the operating efficiencies and cost control.
palgrave
0
-0.6
24.8
0
16.03
28.9
12.78
33
26.23
NET RESIDUAL VALUE
The RESIDUAL VALUE of an ASSET, less any costs associated with disposal.
palgrave
0
42.38
10.3
0
10.37
8.5
10.81
8
14.8
NET RETAINED LINES
The net amount of INSURANCE held by an INSURER after taking account of any REINSURANCE coverage.
palgrave
0
46.78
10.7
0
11.42
10.4
8.38
12
16.4
NET SINGLE PREMIUM
In INSURANCE, the core PREMIUM designed to cover the PRESENT VALUE of future CLAIMS, excluding any LOAD factor to account for costs or PROFIT margin.
palgrave
0
46.1
13
0
11.32
14.6
11.82
15.5
14.8
NET UNDERWRITING PROFIT
In INSURANCE, a measure of profitability asso- ciated with core insurance UNDERWRITING business, generally computed as:NUP = PC&E – Divwhere PC&E is profit after CLAIMS and EXPENSES, and Div is policy holderDIVIDENDS.The greater the net underwriting profit, the stronger the INSURER’s core business.
palgrave
0
-5
24.4
0
17.6
28.4
13.99
32.5
25.37
NET WORTH
The difference between an individual’s or company’s ASSETS and its LIABILITIES, and an indication of overall SOLVENCY. See also CAPITAL, NEGATIVE EQUITY.
palgrave
0
9.55
14.7
0
15.29
12.3
10.64
9
17.13
NET YIELD
The YIELD on a SECURITY or INVESTMENT after deducting TAXES and costs associated with acquiring the ASSET. See also GROSS YIELD.
palgrave
0
43.9
9.7
0
10.53
8
11.68
6.75
13.72
NEWLY INDUSTRIALIZED COUNTRY (NIC)
A country that features a strong, and rapidly growing, industrial production base that contributessubstantially to both national INCOME and EXPORTS. NICs generally pos- sess greater industrial development and exports than LESSER DEVELOPED COUNTRIES.
palgrave
0
20.89
14.4
0
19.66
17.8
12.11
12.25
15.08
NEXT NEARBY CONTRACT
An EXCHANGE-TRADED DERIVATIVE on a reference ASSET with the second closest MATURITY. Though generally not as actively traded as the NEARBY CONTRACT, the next nearby is usually very LIQUID and becomes even more liquid as the nearby contract approaches MATURITY and participants start rolling their positions.
palgrave
0
22.75
15.8
0
15.55
16.9
10.27
17
17.03
NIC
See NEWLY INDUSTRIALIZED COUNTRY.
palgrave
0
-8.73
15.5
0
18.85
15.9
11.73
2
11.6
NIF
See NOTE ISSUANCE FACILITY.
palgrave
0
33.58
9.6
0
10.15
8.8
11.73
2
11.6
NIFTY FIFTY
The top 50 COMMON STOCK holdings of large US INSTITUTIONAL INVESTORS; the list changes periodically but generally includes a core of BLUE CHIP stocks that INVESTORS hold for the long term.
palgrave
0
48.47
14.2
0
12.49
18.1
10.78
18.5
16.27
NIKKEI 225
One of two BENCHMARK INDEXES of the Japanese STOCK mar- ket (along with the TOKYO STOCK PRICE INDEX), comprised of 225 LARGE CAP STOCKS listed on the TOKYO STOCK EXCHANGE. The Nikkei 225, which is a PRICE-WEIGHTED INDEX, can be traded directly through EXCHANGE- TRADED FUNDS and DERIVATIVES.
palgrave
0
64.04
10.3
0
11.32
14.5
10.42
14
12.93
NINJA LOAN
A LOAN, often a residential MORTGAGE, granted to a BORROWER with “no income, no job, or assets,” i.e., an applicant with poten- tially poor CREDITWORTHINESS. Ninja mortgage loans have historically been part of the SUBPRIME MORTGAGE sector.
palgrave
0
44.24
11.7
0
12.82
13.7
10.96
12.25
12.81
NIPPON KEIDANREN
See KEIDANREN.
palgrave
0
35.61
8.8
0
4.2
10.2
11.63
1
20.8
NMS
See NATIONAL MARKET SYSTEM.
palgrave
0
33.58
9.6
0
10.15
8.8
11.73
2
11.6
NNP
See NET NATIONAL PRODUCT.
palgrave
0
50.5
7.2
0
7.25
6.5
11.73
2
11.6
NO ARBITRAGE CONDITION
A key theory of FINANCE that indicates that RISK-free EXCESS RETURNS cannot be obtained in the financial marketplace.
palgrave
0
36.28
12.7
0
13.98
13.8
12.42
13
16.09
NO-LOAD FUND
A MUTUAL FUND that does not carry a sales COMMISSION charge (or LOAD). Despite the lack of a commission no-load funds are not always cheaper than LOAD FUNDS, as they may feature higher annual man- agement fees or exit fees. See also NET ASSET VALUE.
palgrave
0
73.17
6.8
9.7
7.53
7.5
9.29
7.833333
8.67
NOMINAL
See NOTIONAL.
palgrave
0
35.61
8.8
0
1.3
7.8
11.63
1
20.8
NOMINAL CAPITAL
See AUTHORIZED CAPITAL.
palgrave
0
9.21
12.7
0
13.12
13
9.05
2.5
14.53
NOMINAL INTEREST RATE
A measure of the level of INTEREST RATES, computed as the REAL INTEREST RATE plus INFLATION.
palgrave
0
46.78
10.7
0
9.63
9.2
9.36
12
13.9
NOMINAL PRICE
The price of a SECURITY at the time it is issued, generally equal to some defined PAR VALUE. In most cases the nominal price has little or no relationship to the MARKET VALUE of the security, particularly over time.
palgrave
0
51.68
10.9
0
8.47
9.7
8.25
12.75
12.93
NOMINEE
A party acting as registered owner of SECURITIES (i.e., the holder of record) on behalf of a client, either for ease of EXECUTION/transfer or for reasons related to client anonymity. BROKERS commonly act as nominees by holding client securities in STREET NAME.
palgrave
0
41.7
12.7
0
11.72
13.6
10.69
14
14.11
NOMINEE SHAREHOLDER
A registered SHAREHOLDER who holds SHARES on behalf of a BENEFICIAL OWNER. Also known as INDIRECT SHAREHOLDER.
palgrave
0
45.93
9
0
12.03
8.9
10.56
5.75
12.81
NOMING THE PIPES
Abbreviated form of “nominating the pipes,” a scheduling process in natural gas TRADING where physical delivery of gas is allocated through the network of interconnecting gas pipelines based on SUPPLY, DEMAND, time, and price constraints.
palgrave
0
19.03
19.3
0
16.31
23.5
13.04
25.5
23.14
NONACCRUAL LOAN
See NONPERFORMING LOAN.
palgrave
0
34.59
9.2
0
13.12
13
9.05
1.5
14.53
NONADMITTED INSURANCE
An INSURANCE POLICY written by an INSURER that is not licensed in the state or jurisdiction where the INSURED’S RISK exists. Also known as UNAUTHORIZED INSURANCE. See also ADMITTED INSURANCE, SURPLUS LINES INSURANCE.
palgrave
0
43.39
9.9
13
13.15
10.4
9.92
7.5
11.67
NONADMITTED INSURER
An INSURER that is not licensed to sell an INSURANCE POLICY in a given state or jurisdiction. Also known as UNAUTH- ORIZED INSURER. See also ADMITTED INSURER.
palgrave
0
53.88
8
11.9
8.44
6.1
8.76
5.833333
11.01
NONBORROWED RESERVES
In the United States, the amount of RESERVES a BANK has created through its core business operations, rather than through specific borrowings from the FEDERAL RESERVE SYSTEM. See also NET BORROWED RESERVES.
palgrave
0
55.24
9.5
0
13.4
12.3
9.36
10.5
12.65
NONCALLABLE BOND
A BOND that cannot be called or redeemed by the ISSUER prior to final MATURITY under any circumstances. A noncallable bond provides the INVESTOR with protection against REINVESTMENT RISK until final maturity. Also known as STRAIGHT BOND. See also CALL RISK,CALLABLE BOND, HARD CALL PROTECTION, SOFT CALL PROTECTION.
palgrave
0
59.3
8
10.7
13.38
10.9
9.17
6.75
8.13
NONCLEARING MEMBER
An EXCHANGE member that is not permitted to clear TRADES directly with the CLEARINGHOUSE, and must therefore direct all CLEARING activities through a CLEARING MEMBER.
palgrave
0
46.1
13
0
15.5
17.8
9.3
16.5
16.4
NONCOMPETITIVE BID
In an AUCTION MARKET, a BID that is not placed in competition with other bids. Noncompetitive bids are generally filled at the average price of the COMPETITIVE BIDS.
palgrave
0
57.27
8.8
0
10.08
8.8
9.41
8.5
12.74
NONCOMPETITIVE TRADING
An illegal practice where a DEALER or MARKET MAKER executes a client ORDER within a proprietary account, with- out first exposing it to the market. Noncompetitive trading reduces transpar- ency into order flows and allows dealers to profit at the expense of clients.
palgrave
0
41.19
12.9
0
12.24
13.9
12.05
13.25
13.25
NONCONCURRENCY
A situation where an INSURED’s multiple INSURANCE policies are not properly structured or synchronized, and fail to provide com- prehensive cover in the event of a loss.
palgrave
0
35.61
15
0
13.12
17
11.99
19.5
19.69
NONCONFORMING LOAN
A residential MORTGAGE that exceeds stand- ard specifications related to size and LOAN-TO-VALUE established for inclu- sion in a POOL of PASS-THROUGH SECURITIES (such as those created byFEDERAL NATIONAL MORTGAGE ASSOCIATION, GOVERNMENT NATIONAL MORTGAGE ASSOCIATION, or FEDERAL HOME LOAN MORTGAGE CORPORATION). If a mortgage originator wishes to securitize nonconforming loans, it must generally do so through a private label CONDUIT sponsored and managed by a financial institution.
palgrave
0
3.63
21.1
0
18.34
24.6
12.13
27.25
23.55
NONCONTRIBUTORY PENSION
A PENSION scheme where the sponsor- ing company makes all contributions to the account and the employee makes none.CONVERTIBILITY, CONVERTIBLE CURRENCY, EXCHANGE CONTROLS.
palgrave
0
22.75
15.8
0
19.32
20.6
12.33
17.5
17.9
NONDEAL ROADSHOW
A ROADSHOW that is conducted by a com- pany (or other organization) with the aim of updating potential current and future INVESTORS on the state of financial and strategic topics, with- out being specifically associated with a definite and planned NEW ISSUE ofSECURITIES.
palgrave
0
10.91
22.4
0
13.71
25.2
12.75
30.5
25.57
NONDISPLAYED LIQUIDITY
Trading volume, particularly in STOCKS, that is not displayed to the market, but which is available for EXECUTION. Nondisplayed liquidity, which in total comprises the DARK POOL sector, maybe held within EXCHANGES in the form of RESERVE ORDERS and HIDDEN ORDERS or on the books of SPECIALISTS, or within dedicated venues, such as ELECTRONIC COMMUNICATIONS NETWORKS and CROSSING NETWORKS. Also known as DARK LIQUIDITY. See also DISPLAYED LIQUIDITY.
palgrave
0
45.76
11.1
12.2
13.92
13.4
9.82
11
11.51
NONDIVERSIFIABLE RISK
A RISK that is common to all companies, ASSETS, or markets and cannot therefore be reduced or eliminated through DIVERSIFICATION. Also known as SYSTEMATIC RISK. See also DIVERSIFIABLE RISK
palgrave
0
36.25
10.6
10.5
12.44
9.4
10.11
5.5
10.78
NONDURABLE GOOD
An ASSET that has a life span of less than three years and which tends to be consumed immediately, e.g., food, clothing. Nondurable goods form part of the PERSONAL CONSUMPTION component of GROSS DOMESTIC PRODUCT (and GROSS NATIONAL PRODUCT). See also CAPITAL GOOD, DURABLE GOOD.
palgrave
0
64.71
8
11.9
10.9
10.6
10.35
8.833333
11.33
NONEQUITY SHARE
A form of CAPITAL that contains features of both DEBT and EQUITY, but which is defined for ACCOUNTING purposes as a SHARE that is redeemable, where DIVIDEND rights exist for a finite time period, and where the participation in any proceeds generated through LIQUIDATION are limited.
palgrave
0
16.33
22.4
0
13.01
25.8
12.1
33
26.23
NONEXECUTIVE DIRECTOR
In the United Kingdom and various other European countries, a DIRECTOR who is not a member of the EXECUTIVE MANAGEMENT team and, presuming no conflicts of interest, may be consid- ered to be independent from a GOVERNANCE perspective. See also EXECUTIVE DIRECTOR, LEAD INDEPENDENT DIRECTOR.
palgrave
0
23.26
15.6
0
13.7
15.4
9.66
18.25
17.89
NONINSURANCE TRANSFER
A RISK TRANSFER technique that makes use of contractual relationships, such as HOLD HARMLESS AGREEMENTS or PRINCIPAL/AGENT relations, rather than traditional INSURANCE arrangements.
palgrave
0
14.29
17
0
22.11
22.6
14.39
18.5
21.37
NONLIFE INSURANCE
In Europe, INSURANCE coverage for damage or loss to property, which includes both personal line coverage and commercial line coverage. See also GENERAL INSURANCE, PROPERTY AND CASUALTY INSURANCE.
palgrave
0
23.43
13.5
0
15.88
13.8
8.84
13
14.17
NONLINEAR INSTRUMENT
A financial CONTRACT, such as an OPTION or WARRANT, with a payout that varies with changes in the movement of the UNDERLYING reference market or ASSET. A unit change in the value of the reference leads to a greater than unit change in the contract, which may be positive or negative depending on whether the instrument has POSITIVECONVEXITY or NEGATIVE CONVEXITY. See also CONVEXITY, GAMMA, LINEAR INSTRUMENT, NEGATIVE GAMMA, POSITIVE GAMMA.
palgrave
0
38.96
13.7
15.9
12.48
15
9.93
16.833333
14.55
NONLINEAR PAYOFF
A nonlinear economic gain or loss that may be expected under a DERIVATIVE (e.g., EXOTIC OPTION) for a given range of market prices. For every unit move up or down in the market price, the gain or loss is a nonlinear function of that unit move. See also ASYMMETRIC PAYOFF, LINEAR PAYOFF, SYMMETRIC PAYOFF.
palgrave
0
61.67
9.1
12.5
8.18
9.5
9.21
11.666667
12.39
NONNEGOTIABLE INSTRUMENT
Any financial instrument which can- not be assigned or transferred to another party, such as those with restrictive endorsements or defined PAYEES. See also NEGOTIABLE INSTRUMENT.
palgrave
0
41.36
10.7
0
15.3
13
9.75
9
12.89