TAXABLE EQUIVALENT YIELD Definition

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TAXABLE EQUIVALENT YIELD is the yield that must be received on a taxable security to provide the holder with the same after-tax return as that earned on a tax-exempt bond or preferred stock.

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TARIFF, AD VAL OREM is a tariff determined as a percentage of the value of the goods.

BANKER'S ACCEPTANCE (BA) is a money market instrument that is issued in discounted form. A banker's acceptance is created when a bank accepts responsibility for payment of business debt by signing a letter of credit. Banker's acceptances are sold to acceptance dealers and may be resold to numerous other parties before the loan is repaid. The investor who last owns the acceptance when the debt becomes due has a right to collect from the borrower. Should the borrower default, the investor can also pursue payment from the accepting bank.

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