Business / Finance Glossary

Cumulative Auction Market Preferred Stocks (CAMPS): Sum of the differences between the expected return on a stock (systematic risk multiplied by the realized market return) and the actual return often used to evaluate the impact of news ona s . . . View Full Definition

Cumulative Dividend Feature: Stands for Cumulative Auction Market Preferred Stocks, Oppenheimer & Company's Dutch Auction preferred stock product.

Cumulative Preferred Stock: A requirement that any missed preferred or preference stock dividends be paid in full before any common dividend payment is made.

Cumulative Probability Distribution: Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock.

Cumulative Translation Adjustment (CTA) Account: A function that shows the probability that the random variable will attain a value less than or equal to each value that the random variable can take on.

Cumulative Voting: An entry in a translated balance sheet in which gains and/or losses from translation have been accumulated over a period of years. The C.T.A. account is required under the FASB No. 52 rule.

Currency: A system of voting for directors of a corporation in which shareholder's total number of votes is equal to the number of shares held times the number of candidates.

Currency Arbitrage: Money.

Currency Basket: Taking advantage of divergences in exchange rates in different money markets by buying a currency in one market and selling it in another market.

Currency Future: The value of a portfolio of specific amounts of individual currencies, used as the basis for setting the market value of another currency. It is also referred to as a currency cocktail.

Currency Hedge: A financial future contract for the delivery of a specified foreign currency.

Currency In Circulation: Applies mainly to international equities. Hedging technique to guard against foreign exchange fluctuations (i.e., short Euro l00 mm when holding a long position of Euro l00 mm in stocks).

Currency Option: Paper money, coins, and demand deposits that constitute all the money circulating in the economy.

Currency Overvaluation: An option to buy or sell a foreign currency.

Currency Risk: Applies mainly to international equities: (1) consideration that a currency is overvalued if private demand for the currency at the going exchange rate is less than total private supply (i.e . . . View Full Definition

Currency Risk Sharing: Related: Exchange rate risk

Currency Selection: An agreement by the parties to a transaction to share the currency risk associated with the transaction. The arrangement involves a customized hedge contract embedded in the underlying transaction.

Currency Swap: Asset allocation in which the investor chooses among investments denominated in different currencies.

Current Account: An agreement to swap a series of specified payment obligations denominated in one currency for a series of specified payment obligations denominated in a different currency.

Current Assets: Net flow of goods, services, and unilateral transactions (gifts) between countries.

Current Coupon: Assets that are convertible to cash within one year in the normal course of business. This usually includes cash, accounts receivable, inventory, and prepaid expenses. See also non-current assets.

Current Income: A bond selling at or close to par, that is, a bond with a coupon close to the yields currently offered on new bonds of a similar maturity and credit risk.

Current Issue: Money that is routinely received from investments in the form of dividends, interest, and other income sources.

Current Liabilities: In Treasury securities, the most recently auctioned issue. Trading is more active in current issues than in off-the-run issues.

Current Market Value: Amount owed for salaries, interest, accounts payable and other debts due within 1 year.

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