ISTC Financial Glossary
What is it? Information Society Technologies CommitteeFinance Term Definition Added By: Alexis
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Financial Term Protool is A tool in FP5 to assist in proposal submittalFinancial Term effective interest amortization is A methodology for amortizing premiums or accreting discounts for MBSs that is required by FAS 91. Under this methodology, premiums are amortized and discounts are accreted into income over the average life of the securities. To accomplish this, a prepayment speed assumption (PPA) must be made when the MBS is purchased. An average life is then estimated from that prepayment assumption. Then an initial accretion or amortization schedule is determined to evenly spread the accretion or amortization into income over the estimated life of the MBS investment. If actual prepayments received during the life of the investment differ from the assumed speed, as they almost always will, the average life projection must be revised. When the average life projection is revised, a revised accretion or amortization schedule must be calculated for the entire period from the purchase date. In practice, many investors do not do this until the difference between the original speed assumption and a more accurate, current assumption, is material. An alternative system, level factor amortization, is often considered superior.
Financial Term OverValued is An asset whose market value is greater than its intrinsic (formula or theoretical) value.
Financial Term Book to Bill is This is the semiconductor book to bill ratio. It reports on the amount of semiconductor chips that are booked for delivery as compared with those that companies already have billed for.
Financial Term warrant is (1) An order drawn by a payor directing its treasurer to pay a specified amount to the person named or to the bearer. It may be payable upon demand, in which case it usually circulates in the same way as a bank check; or it may be payable only out of certain revenue when and if received, in which case it does not circulate as freely.(2) A financial instrument that gives the holder the right, but not the obligation, to purchase a specified amount of an asset at a specified price during a specified period of time. A warrant may give its holder the right to buy shares of stock, bonds, currencies, or commodities. The major difference between warrants and options is that prices for warrants are usually published with lists of the prices for the underlying assets.