Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "P"
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Participating GIC
Definition: A guaranteed investment contract whose policyholder is not guaranteed a crediting rate, but instead receives a return based on the actual experience of the portfolio managed by the life insurance company.
Definition: A guaranteed investment contract whose policyholder is not guaranteed a crediting rate, but instead receives a return based on the actual experience of the portfolio managed by the life insurance company.
Participating Life Insurance Policies
Definition: Life insurance that pays dividends to policyholders depending on the company's success as provided by few claims and profitable underwritings and investments.
Definition: Life insurance that pays dividends to policyholders depending on the company's success as provided by few claims and profitable underwritings and investments.
Participating Preferred Stock
Definition: Preferred stock that provides the holder with a specified dividend plus the right to additional earnings under specified conditions.
Definition: Preferred stock that provides the holder with a specified dividend plus the right to additional earnings under specified conditions.
Participation
Definition: The amount of loan or bond issue taken directly from another direct lender or underwriter.
Definition: The amount of loan or bond issue taken directly from another direct lender or underwriter.
Participation Certificates (PC)
Definition: Used in the context of general equities. Investments representing an interest in a pool of funds or in other instruments, such as foreign securities, that allow participation in the rise or fall of a security or group of securities.
Definition: Used in the context of general equities. Investments representing an interest in a pool of funds or in other instruments, such as foreign securities, that allow participation in the rise or fall of a security or group of securities.
Participation Loan
Definition: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.
Definition: A large loan made by a group of lenders, that enables a borrower to obtain financing above the legal lending limit of an individual lender.
Partnership
Definition: Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability with respect to obligations of the group. See: General partnership, limited partnership, and master limited partnership.
Definition: Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability with respect to obligations of the group. See: General partnership, limited partnership, and master limited partnership.
Partnership Agreement
Definition: A written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.
Definition: A written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.
Party In Interest
Definition: An ERISA-specified individualsuch as an administrator, officer, fiduciary, trustee, custodian, or counselwho is prohibited from making certain transactions involving a retirement plan. A trustee, for example, would be prohibited from using an IRA as collateral for a loan.
Definition: An ERISA-specified individualsuch as an administrator, officer, fiduciary, trustee, custodian, or counselwho is prohibited from making certain transactions involving a retirement plan. A trustee, for example, would be prohibited from using an IRA as collateral for a loan.
Pass The Book
Definition: The process of transferring responsibility for a brokerage firm's trading account from one office to another around the world in order to benefit from trading 24 hours a day.
Definition: The process of transferring responsibility for a brokerage firm's trading account from one office to another around the world in order to benefit from trading 24 hours a day.
Pass-through Coupon Rate
Definition: The interest rate paid on a securitized pool of assets, which is less than the rate paid on the underlying loans by an amount equal to the servicing and guaranteeing fees.
Definition: The interest rate paid on a securitized pool of assets, which is less than the rate paid on the underlying loans by an amount equal to the servicing and guaranteeing fees.
Pass-through Rate
Definition: The net interest rate passed through to investors after deducting servicing, management, and guarantee fees from the gross mortgage coupon.
Definition: The net interest rate passed through to investors after deducting servicing, management, and guarantee fees from the gross mortgage coupon.
Pass-through Receivership
Definition: A resolution term used when all deposits, substantially all assets, and certain nondeposit liabilities of the original institution instantly "passed through the receiver" to a newly chartered federal mutual association, subsequently known as the "conservatorship."
Definition: A resolution term used when all deposits, substantially all assets, and certain nondeposit liabilities of the original institution instantly "passed through the receiver" to a newly chartered federal mutual association, subsequently known as the "conservatorship."
Pass-through Securities
Definition: A pool of fixed income securities backed by a package of assets (i.e., mortgages) where the holder receives the principal and interest payments. Related: Mortgage pass-through security
Definition: A pool of fixed income securities backed by a package of assets (i.e., mortgages) where the holder receives the principal and interest payments. Related: Mortgage pass-through security
Passive
Definition: Income or loss from business activities in which a person does not materially participate, such as a limited partnership.
Definition: Income or loss from business activities in which a person does not materially participate, such as a limited partnership.
Passive Activity Loss (PAL)
Definition: A loss incurred in participating in passive investing.
Definition: A loss incurred in participating in passive investing.
Passive Income
Definition: Income (such as investment income) that does not come from active participation in a business. Specified by the U.S. tax code.
Definition: Income (such as investment income) that does not come from active participation in a business. Specified by the U.S. tax code.
Passive Income Generator (PIG)
Definition: An investment that favors passive income, such as an income-oriented real estate limited partnership.
Definition: An investment that favors passive income, such as an income-oriented real estate limited partnership.
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