Cover Financial Glossary

What is it? Protection provided by an insurance policy.

Finance Term Definition Added By: Megan

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Financial Term Prudential System is A system introduced from April 2004 which allows local authorities to determine how much long-term borrowing it can afford to undertake to fund capital expenditure. This system replaced the previous complex regulatory framework of capital controls with a system based on self-regulation by local authorities. The system is enshrined in the Prudential Code.

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