Business / Finance Glossary

Bond-Equivalent Basis: The method used for computing the bond-equivalent yield.

Bondholder: The firm often has stockholders and bondholders. In a liquidation, the bondholders have first priority.

BONDPAR: A system that monitors and evaluates the performance of a fixed income portfolio, as well as the individual securities held in the portfolio. BONDPAR decomposes the return into the elements . . . View Full Definition

Bonds: Corporate bonds arranged so that specified principal amounts become due on specified dates. Related: Term bonds.

Bonds Enabling Annual Retirement Savings (BEARS): Holders of BEARS receive the face value of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEA . . . View Full Definition

Boning: Charging a lot more for an asset than its worth.

Book: A banker or trader's positions.

Book Cash: A firm's cash balance as reported in its financial statements. Also calledledger cash.

Book Profit: The cumulative book income plus any gain or loss on disposition of assets.

Book Runner: The managing underwriter for a new issue. The book runner maintains the book of securities sold.

Book To Bill: In the context of general equities, high-technology industry's demand to supply ratio of orders on a firm's book to number of orders filled. Measures who the company has more orders than it . . . View Full Definition

Book Value: The value of an asset for accounting purposes. For assets where depreciation is taken or reserves booked, this is often expressed as a net book value. The book value of a company is the exce . . . View Full Definition

Book Value Per Share: The ratio of stockholder equity to the average number of common shares. Book value per share should not be thought of as an indicator of economic worth, since it reflects accounting valuatio . . . View Full Definition

Book-Entry Securities: System in which securities are not represented by paper certificates but are maintained in computerized records at the Fed in the names of member banks, which in turn keep computer records o . . . View Full Definition

Bootstrap: Term used to describe the start-up of a company with very little capital.

Bootstrapping: Creating a theoretical spot rate curve using one yield projection as the basis for the yield of the next maturity.

Borrow: To obtain or receive money on loan with the promise or understanding that it will be repaid.

Borrowed Reserves: Funds borrowed from a Federal Reserve Bank by member banks to maintain the required reserve ratios.

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