It is the sole issuer of paper currency for circulation. The central bank system of the United States is called the Federal Reserve System. The Federal Reserve Board performs the same functions as the Bank of Canada and, in addition, plays an important role in the supervision of the U.S. banking system. A unit of measurement for comparing an amount of oil to its gas equivalent. Thus if Bond X yields 8.5 per cent and Bond Y 8.75 per cent, the difference is 25 basis points.
Same phrase is used when describing rise and falls of the dollar.
A stock market whose index of representative stocks, such as the Toronto Stock Exchange 300 Composite Index, is declining in value. A rule of thumb is that when a market declines 20 per cent it is bear. An individual who becomes entitled to a benefit upon the death of the policy or plan holder. Applies to life insurance, will, and registered account proceeds. Betas tend to range from 0.5 to 2.0.