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Minimum lending rate |
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Minimum lending rateThe minimum rate of interest at which the Bank of England was willing to lend to the money markets. Discontinued in 1981.Similar MatchesMinimum funding requirementMinimum funding requirementA 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 maintenanceMinimum maintenanceThe 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 income guaranteeMinimum income guaranteeThe Minimum Income Guarantee tops up pensioners' incomes from the basic state pension. In the year 2003, the top up is to £102.10 a week for a single person to £155.80 for a couple.The MIG rises with wages inflation which tends to move faster than price inflation (on which the basic state pension is based) so in time the gap between the state pension and the MIG should grow.Anyone with assets over £12,000 is disqualified from the MIG. Guaranteed minimum periodGuaranteed minimum periodThe period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death. Minimum variance portfolioMinimum variance portfolioThe portfolio of risky assets with lowest variance. Further Suggestionsguaranteed minimum pensionMinimum price system minimum quote size Required minimum distribution (RMD) Minimum efficient scale minimum price fluctuation Minimum import price alternative minimum tax Minimum maintenance Alternative Minimum Tax (AMT) Minimum variance frontier |
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