ACCRUAL CONCEPT Definition

ACCRUAL CONCEPT see ACCRUAL BASIS OF ACCOUNTING.

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PAYDOWN is the systematic reduction in principal of a mortgage- or asset-backed security resulting in a series of principal payments, either scheduled or unscheduled.

MERCHANT BANK is a specialized bank that offers investment services, corporate advice, trade and project finance, exchange rate dealing, etc to their clients worldwide. Sometimes also acts as an issuing bank for stocks and bonds, and can also advise companies involved in mergers.

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