Minimum lending rate

 

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Minimum lending rate

The minimum rate of interest at which the Bank of England was willing to lend to the money markets. Discontinued in 1981.



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Guaranteed minimum pension

Guaranteed minimum pension

The minimum pension payable by a pension scheme in order that members may contract out of S2P (State Second Pension).


Minimum maintenance

Minimum maintenance

The minimum amount of equity which must be kept in a margin account as specified by the New York Stock Exchange, the National Association of Securities Dealers and brokerage firms.


Minimum funding requirement

Minimum funding requirement

A rule introduced in the wake of the Maxwell pensions scandal which was intended to ensure that company pensions funds always had enough assets to pay out their liabilities (i.e. pensions to retired members of the scheme).The legislation uses the yield from long term gilts as the yardstick by which a pensions fund's liabilities are measured. To stay within the rules, funds have felt obliged to buy these long-term bonds, with the result that their price has gone sky high.One alternative being considered is to change the whole way liabilities are valued and, in effect, to allow the funds to invest in more exciting securities than gilts, but to couple this with an insurance fund that bails out those funds that are unable to meet their liabilities. This insurance fund would be called the Central Discontinuance Fund (CDF).


Minimum efficient scale

Minimum efficient scale

The smallest output of a firm consistent with minimum average cost. In small countries, in some industries the level of demand in autarky is not sufficient to support minimum efficient scale.


Required minimum distribution (RMD)

Required minimum distribution (RMD)

The minimum amount that the IRS requires must be withdrawn each year from all tax-advantaged retirement plans starting in the calendar year following the year in which the plan holder reaches age 70-1/2. Roth IRAs are exempt from this rule.


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