DIRECT FINANCING LEASE is one in which the lessor's only source of revenue is interest. The lessor (generally a bank or other financial institution) buys an asset and leases it to the lessee. This transaction is an alternative to the more customary lending arrangement in which a borrower uses the loan proceeds to purchase an asset. A direct financing lease is the functional equivalent of a loan.
BASLE COMMITTEE was set up by the Bank for International Settlements and is based in
15 MINUTE RULE is a timekeeping method used as a semi-official delay prior to ending or beginning an activity. For example: a. Only waiting for a tardy college instructor for 15 minutes prior to the class being terminated, or, b. Putting a 15 minute hands-off delay before impulsively eating a candy when dieting.
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