BANK FOR INTERNATIONAL SETTLEMENTS Definition

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BANK FOR INTERNATIONAL SETTLEMENTS (BIS) is the central bankers' bank based in Basle, Switzerland.

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MONEY MARKET PREFERRED STOCK see AUCTION-RATE PREFERRED STOCK.

RETAINAGE, in a construction contract, is the money earned by a contractor but not paid to the contractor until the completion of construction or another predetermined date. The retainage is held back as assurance for the quality of the contractors work.

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