AUTHORITATIVE PRONOUNCEMENT Definition

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AUTHORITATIVE PRONOUNCEMENT is a formal declaration of opinion sanctioned by established authority.

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M3 is the broadest measure of the U.S. money stock that consists of M2, time deposits of $100,000 or more at all depository institutions, term repurchase agreements in amounts of $100,000 or more, certain term Eurodollars and balances in money market mutual funds restricted to institutional investor.

FLOOR a series of European interest rate put options used to protect against rate moves below a set strike level.

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