Nominal Annual Rate
Nominal Annual Rate: An effective rate per period multiplied by the number of periods in a year. Same as annual percentage rate.
Overlay Strategy: A strategy of using futures for asset allocation by pension sponsors to avoid disrupting the activities of money managers.
Pac-Man Strategy: Takeover defense strategy in which the prospective acquiree retaliates against the acquirer's tender offer by launching its own tender offer for the other firm.
Outright Rate: Actual forward rate expressed in dollars per currency unit, or vice versa.
Operating Rate: The percentage of total production capacity of a company, industry, or country that is being used.
Open-Market Rates: Interest rates that are determined in the open market by supply and demand, as opposed to being set by the Federal Reserve Board.
Paratext: In Gérard Genette's work, Paratext: Thresholds of Interpretation, Genette introduces the idea of 'paratext,' i.e., anything external to the text itself that influences the way we read a tex . . . View Full Definition
Paris Interbank Offer Rate (PIBOR): The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris.
Pass-Through Rate: The net interest rate passed through to investors after deducting servicing, management, and guarantee fees from the gross mortgage coupon.
Passive Portfolio Strategy: A strategy that involves minimal expectational input, and instead relies on diversification to match the performance of some market index. A passive strategy assumes that the marketplace wil . . . View Full Definition