RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.
BENEFICIARY is a person who benefits from the terms of a trust, pension or provident fund, or other deferred income plan, or an insurance policy. In banking, it is the person in whose favor a letter of credit is issued or a draft is drawn.
LIBOR see LONDON INTERBANK OFFERED RATE.
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