Investment banking

Investment banking

Of or relating to the business of underwriting, or acting as the client's agent, in the issuance of securities in order to assist an individual, commercial enterprise, corporation or government instution ro raise capital.

Industry: Banking

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Investment banking

fixed-rate mortgage

Banking; Investment banking

Also: fixed mortgage, fixed-interest mortgage. Mortgage with a fixed, unchangeable interest rate running for a period agreed on between the bank and the borrower, usually between two and ten years.

budget surplus

Banking; Investment banking

Situation in which a government's income exceeds its spending. Opposite: budget deficit.

group

Banking; Investment banking

Affiliation of legally independent companies in an economic unit under common management by means of financial participation. This structure is normally chosen to strengthen market positions.

normal order

Banking; Investment banking

Spot order for the purchase or sale of securities traded on the SWX Swiss Exchange. May be entered as a market or limit order. See also market order.

put

Banking; Investment banking

Also: put option. An option that confers on the buyer the right to sell the underlying. Opposite: call.

debit interest

Banking; Investment banking

Interest charged by the bank on loans or on overdrawn accounts. Opposite: credit interest.

month-end closing

Banking; Investment banking

(1) Refers to transactions settled as at the end of the month (last business day of the month). (2) Time when forward transactions are closed out (liquidated, squared). See also mid-month.