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Reference rate |
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Reference rateA benchmark interest rate (such as LIBOR) used to specify conditions of an interest rate swap or an interest rate agreement.Reference rate Similar MatchesStepped preference sharesStepped preference sharesPreference shares with dividends which increase annually by a specified amount and with a predetermined capital return. Homothetic preferencesHomothetic preferencesTogether with identical preferences, this assumption is used for many propositions in trade theory, in order to assure that consumers with different incomes but facing the same prices will demand goods in the same proportions. Tariff preferenceTariff preferenceA lower (or zero) tariff on a product from one country than is applied to imports from most countries. This violation of the MFN principle is permitted in special cases, including some preferential trade arrangements and the GSP. Preference sharePreference sharePreferred shares of a corporation that have first claim to preferred dividends. Preference sharesPreference sharesShares in a company which give their holders an entitlement to a fixed dividend but which do not usually carry voting rights. The important difference between preference and ordinary shares are:The dividend on ordinary shares is uncertain and variable (high when the company does well, poor or non-existent when it does badly). Preference shareholders get a fixed dividend which, if not paid, usually accrues until it can be.Each ordinary share usually carries a vote. Preference shares do not usually carry a vote unless dividends fall into arrears.In the event of a winding up, preference shares are usually repayable at par value, and rank above the claims of ordinary shareholders (but behind bank and trade creditors).Preference shares may be issued with the right of conversion into ordinary shares. These are called convertibles. Further SuggestionsPreference stockPreference for variety Loan Preference Principle Generalized System of Preferences Liquidity preference hypothesis Credit reference agency Tax preference item cumulative preference shares Reference price Weak axiom of revealed preference trade reference credit reference agency Revealed preference redeemable preference shares Identical preferences banker's reference Involuntary liquidation preference Community preferences accounting reference date participating preference shares Preferences Mortgage reference fee |
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