Business / Finance Glossary

Back-To-Back Loan: A loan in which two companies in separate countries borrow each other's currency for a specific time period and repay the other's currency at an agreed-upon maturity.

Backdating: In the context of mutual funds, a feature allowing fundholders to use an earlier date on a letter of intent to invest in a mutual fund in exchange for a reduced sales charge, e.g. Giving ret . . . View Full Definition

Backed In: In the context of general equities, to describe result of unanticipated events that allow for a purchase at a discount or a sale at a premium.

Backup Line: A commercial paper issuer's bank line of credit covering maturing notes if, for some reason, selling new notes to cover the maturing notes is not possible.

Backwardation: A market condition in which futures prices are lower in the distant delivery months than in the nearest delivery month. This may occur when the costs of storing the product until eventual de . . . View Full Definition

Bad Debt: A debt that is written off and deemed uncollectible.

Bad Debt Expense: Losses for uncollectible accounts receivable.

Bad Delivery: Antithesis of good delivery.

Bad Title: Title to property that does not distinctly confer ownership, usually in the context of real estate.

Bai-Kai: Two-sided market picture, in Japanese terminology applies mainly to international equities.

Bailing Out: In the context of securities, refers to selling a security or commodity quickly, regardless of the price. May occur when an investor no longer wants to sustain further losses on a stock.

Bailout Bond: A bond issued by the Resolution Funding Corporation (Refcorp) to save the failing savings and loan associations in the late 1980s and early 1990s.

Baker Plan: A plan by former U.S. Treasury Secretary James Baker under which 15 principal middle-income debtor countries (the Baker 15) would undertake growth-oriented structural reforms, to be supporte . . . View Full Definition

Balance Of Payments: A statistical compilation formulated by a sovereign nation of all economic transactions between residents of that nation and residents of all other nations during a stipulated period of time . . . View Full Definition

Balance Of Trade: Net flow of goods (exports minus imports) between two countries.

Balance Sheet: Also called the statement of financial condition, it is a summary of a company's assets, liabilities, and owners' equity.

Balance Sheet Identity: Total assets = Total liabilities + Total stockholders' equity

Balanced Budget: A budget in which the income equals expenditure. See: budget.

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