Related Words

Fixed Rate Loan: A loan where the interest rate does not change during the term of the loan.

Pass-Through Coupon Rate: The interest rate paid on a securitized pool of assets, which is less than the rate paid on the underlying loans by an amount equal to the servicing and guaranteeing fees.

Pass-Through Rate: The net interest rate passed through to investors after deducting servicing, management, and guarantee fees from the gross mortgage coupon.

Pass-Along Rate: The percentage of people who pass on a message or file.

Participation Loan: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.

Parallel Loan: A process whereby two companies in different countries borrow each other's currency for a specific period of time, and repay the other's currency at an agreed maturity for the purpose of red . . . View Full Definition

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.

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

Payment Rate: Generally, the amount paid per unit of production (i.e., bushel, pound, hundredweight) to each participating farmer for eligible production under commodity income and price support programs.