160. Finance

See also 131. DUES and PAYMENT ; 137. ECONOMICS ; 276. MONEY .

acceptance

1. the acknowledgment of a bill of exchange, in writing across the back, binding the acceptor to make payment.

2. the bill so endorsed.

actuary

a statistician of an insurance company who calculates risks and premiums.

agio

1. the exchange rate between the currencies of different nations.

2. the fee paid to effect an exchange of currency. See also agiotage.

agiotage

the business of trading or speculating in foreign exchange. Also called agio .

amortization, amortizement

the paying off of a debt in equal installments composed of gradually changing amounts of principal and interest.

annuity

an investment that bears a fixed return yearly, for a fixed period or for the life of the recipient.

bursary

the treasury, especially of a college. See also 240. LEARNING .

cambism

cambistry. — cambist , n .

cambist

1. a dealer in bills of exchange.

2. a handbook listing the exchange values of moneys and the weights and measures of many countries.

cambistry

the branch of economics that studies commercial exchange, especially international money values. Also cambism.

debenture

an interest-bearing bond, often issued by corporations, usually unsecured but sometimes with a preferred status over other obligations of the issuer.

delinquency

1. the condition of being in arrears in payment of a debt.

2. the condition of a debt when overdue. See also 239. LAW .

entrepreneurship

1. the state, quality, or condition of being an entrepreneur, an organizer or promoter of business ventures.

2. the duration of a person’s function as an entrepreneur.

fiduciary

one who holds in trust; a trustee or depositary. See also 392. THEOLOGY .

hypothecation

1. the process of pledging property as security for a debt.

2. a claim made against property so pledged. — hypothecator , n . — hypothecary , adj .

mortgage

1. the giving of property, usually real property, as security to a creditor for payment of a debt.

2. the deed pledging the security.

tontine

1. an annuity, or loan, based on a group of annuities that are shared among several people with the provision that as each person dies his share is spread among those remaining, and the entire amount accrues to the survivor of them all.

2. the members of the group collectively.

3. each member’s total share or annuity. — tontine , adj .

usury

1. the lending of money at excessive interest rates, especially rates above legal limits.

2. the excessive interest rate charged. — usurer , n . — usurious , adj .

Wall Streetese

language typical of that used on Wall Street and in the financial markets, characterized by use of technical financial terms and arcane stock-market jargon.