BALANCE OF PAYMENTS / BALANCE OF TRADE Definition

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BALANCE OF PAYMENTS / BALANCE OF TRADE is the difference between a countrys total export dollar value and its total import dollar value, generally or with respect to a particular trading partner. A positive balance means a net inflow of capital, while a negative means capital flows out of the country.

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PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

SUPPLANT is to take the place of or move into the position of, e.g. the computer supplanted the slide rule.

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