AUCTION-RATE PREFERRED STOCK Definition

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AUCTION-RATE PREFERRED STOCK is preferred stock issues in which dividends are reset every 49 days through a Dutch Auction bidding process. These securities are known by many names coined by the underwriters who bring them to market. Other names are: Auction Market Preferred Stock (AMPS), Cumulative Auction Market Preferred Stock (CAMPS), Dutch Auction-Rate Transferrable Securities (DARTS), Floating-Rate Auction Preferred Stock (FRAPS), Market Auction Preferred Stock (MAPS), Rate Adjustable Preferred Stock (RAPS), Short-Term Auction-Rate Stock (STARS) and Money Market Preferred (MMP).

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SLR see STATUTORY LIQUIDITY RATIO. SLR is an acronym with several other possible meanings, e.g., Stock Level Report, Stock Level Requirement, System Level Requirement(s), etc.

EXPECTED ANNUAL CAPACITY is the planned activity levels or output for a given year taking into account efficiency and idle capacity.

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