Laserfiche WebLink
MASTER REPURCHASE AGREEMENT- An agreement between the investor and the <br /> dealer or financial institution. This agreement defines the nature of the transactions, <br /> identifies the relationship between the parties, establishes normal practices regarding <br /> ownership and custody of the collateral securities during the term of the investment, <br /> provides for remedies in the event of a default by either party and otherwise clarifies <br /> issues of ownership. <br /> MATURITY-The time when a security becomes due and at which time the principal <br /> and interest or final coupon payment is paid to the investor. <br /> NET WORTH - A financial institutions' available funds after their total liabilities have <br /> been deducted from their total assets. <br /> OFFER - The indicated price at which a seller is willing to sell a security or commodity. <br /> (See BID) When buying a security an offer is obtained. <br /> PAR VALUE -The nominal or face value of a debt security; that is, the value at maturity. <br /> PREMIUM -The amount by which a bond sells above its par value. <br /> PRIMARY DEALERS -A pre-approved bank, broker/dealer or other financial institution <br /> that is able to make business deals with the U.S. Federal Reserve, such as underwriting <br /> new government debt. These dealers must meet certain liquidity requirements as well <br /> as provide a valuable flow of information to the Fed about the state of the worldwide <br /> markets. <br /> PRINCIPAL - An invested amount on which interest is charged or earned. <br /> PRUDENCE -The ability to govern and discipline oneself by the use of reason. <br /> Shrewdness in the management of affairs. Able to use skill and good judgment in the <br /> use of resources. <br /> QUALIFIED PUBLIC DEPOSITORY- A financial institution which does not claim <br /> exemption from the payment of any sales or compensating use or ad valorem taxes <br /> under the laws of this state, which has segregated, for the benefit of the commission, <br /> eligible collateral having a value of not less than its maximum liability and which has <br /> been approved by the Public Deposit Protection Commission to hold public deposits. <br /> 13 I City of Everett Investment Policy (2017) <br />