ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PARITY BIT Definition
PARITY BIT is a redundant bit added to a string of bits to increase the accuracy of data transmission.
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HYBRID INSTRUMENT is a package containing two or more different kinds of risk management instruments that are usually interactive.
ASSET BACKED SECURITY is a debt instrument collateralized by credit card receivables, auto loans or other assets and securitized by a bank or financial institution. To reduce the possibility of a disruption in principal and interest payments, the cash flow from these assets is enhanced by a variety of methods including letter of credit support, insurance, overcollateralization and excess interest.