Short-term government debt issued in denominations ranging from $1,000 to
$1,000,000. Treasury bills do not pay interest, but are sold at a discount and mature at
par (100% of face value). The difference between the purchase price and par at
maturity represents the lender's (purchaser's) income in lieu of interest. In Canada,
such gain is taxed as interest income in the purchaser's hands.
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Treasury Bills
,This term is used to describe bonds issued by governments that are firsthand
obligations of the government itself. See also Guaranteed Bonds.
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Direct Bonds
A commercial draft (i.e., a written instruction to make payment) drawn by a borrower
for payment on a specified date. A BA is guaranteed at maturity by the borrower's
bank. As with T-bills, BAs are sold at a discount and mature at their face value, with the
difference representing the return to the investor. BAs may be sold before maturity at
prevailing market rates, generally offering a higher yield than Canada T-bills.
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Bankers' Acceptance
A hybrid investment product that combines the safety of a deposit instrument with
some of the growth potential of an equity investment. They have grown in popularity,
particularly among conservative investors who are concerned with safety of capital
but want yields greater than the interest on standard interest bearing GICs or other
term deposits.
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Index-Linked GICs
,The formal financial statements and report on operations issued by a company to its
shareholders after its fiscal year-end.
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Annual Report
A government pension plan payable at age 65 to all Canadian citizens and legal
residents.
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Old Age Security (OAS)
The Bank of Canada's 50-basis-point range for the overnight lending rate. The top of
the band, the Bank Rate, is the rate charged by the Bank on LVTS advances to financial
institutions. The bottom of the band is the rate paid by the Bank on any LVTS balances
held overnight by those institutions. The middle of the operating band is the target for
the overnight rate.
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Operating Band
Financial ratios that are used to judge the company's ability to meet its short-term
commitments. See Current Ratio.
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, Liquidity Ratios
A type of debenture that offers protection to investors during periods of very volatile
interest rates. For example, when interest rates are rising, the interest paid on floating
rate debentures is adjusted upwards every six months.
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Floating-Rate Debentures
A company's profit for a stated period plus any deductions that are not paid out in
actual cash, such as depreciation. For an investor, any source of income from an
investment including dividends, interest income, rental income, etc.
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Cash Flow
Fee-based accounts that are an evolution of separately managed accounts. With
multi-disciplinary accounts, separate models are combined into one overall portfolio
model in a single account.
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Multi-Disciplinary Accounts
$1,000,000. Treasury bills do not pay interest, but are sold at a discount and mature at
par (100% of face value). The difference between the purchase price and par at
maturity represents the lender's (purchaser's) income in lieu of interest. In Canada,
such gain is taxed as interest income in the purchaser's hands.
Give this one a try later!
Treasury Bills
,This term is used to describe bonds issued by governments that are firsthand
obligations of the government itself. See also Guaranteed Bonds.
Give this one a try later!
Direct Bonds
A commercial draft (i.e., a written instruction to make payment) drawn by a borrower
for payment on a specified date. A BA is guaranteed at maturity by the borrower's
bank. As with T-bills, BAs are sold at a discount and mature at their face value, with the
difference representing the return to the investor. BAs may be sold before maturity at
prevailing market rates, generally offering a higher yield than Canada T-bills.
Give this one a try later!
Bankers' Acceptance
A hybrid investment product that combines the safety of a deposit instrument with
some of the growth potential of an equity investment. They have grown in popularity,
particularly among conservative investors who are concerned with safety of capital
but want yields greater than the interest on standard interest bearing GICs or other
term deposits.
Give this one a try later!
Index-Linked GICs
,The formal financial statements and report on operations issued by a company to its
shareholders after its fiscal year-end.
Give this one a try later!
Annual Report
A government pension plan payable at age 65 to all Canadian citizens and legal
residents.
Give this one a try later!
Old Age Security (OAS)
The Bank of Canada's 50-basis-point range for the overnight lending rate. The top of
the band, the Bank Rate, is the rate charged by the Bank on LVTS advances to financial
institutions. The bottom of the band is the rate paid by the Bank on any LVTS balances
held overnight by those institutions. The middle of the operating band is the target for
the overnight rate.
Give this one a try later!
Operating Band
Financial ratios that are used to judge the company's ability to meet its short-term
commitments. See Current Ratio.
Give this one a try later!
, Liquidity Ratios
A type of debenture that offers protection to investors during periods of very volatile
interest rates. For example, when interest rates are rising, the interest paid on floating
rate debentures is adjusted upwards every six months.
Give this one a try later!
Floating-Rate Debentures
A company's profit for a stated period plus any deductions that are not paid out in
actual cash, such as depreciation. For an investor, any source of income from an
investment including dividends, interest income, rental income, etc.
Give this one a try later!
Cash Flow
Fee-based accounts that are an evolution of separately managed accounts. With
multi-disciplinary accounts, separate models are combined into one overall portfolio
model in a single account.
Give this one a try later!
Multi-Disciplinary Accounts
