UNDERWATER Definition

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UNDERWATER, in securities, is securities held in a portfolio with an unrealized market loss. Selling them would mean real­izing the loss and, according to statutory accounting, a reduction in policyholders' surplus.

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REPORTED EARNINGS PER SHARE is the earnings per share after profit owed to preference shareholders or minority interests is subtracted, i.e. it is the profit that actually belongs to the ordinary shareholders.

MARKKA is a currency of Finland.

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