PENGÖ Definition

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PENGÖ is a currency of Hungary.

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EQUITY-TO-ASSET RATIO expresses the proportion of total assets financed by the owner's equity capital. It is the reciprocal of the debt-to-asset ratio.

CLEARING ACCOUNT, in banking, is a bank account used by a mortgage servicing company for the temporary, short-term deposit of mortgage payments that have been collected and are either awaiting transmittal to investors who bought the mortgages or awaiting deposit in escrow accounts. See CASH CLEARING ACCOUNT.

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