Dictionary_of_Banking_and_Finance

build into

COMMENT: Building societies mainly invest the money deposited with them as mortgages on properties, but a percentage is invested in government securities. Societies can now offer a range of banking services, such as cheque books, standing orders, overdrafts, etc., and now operate in much the same way as banks. Indeed, many building societies have changed from ‘mutual status’, where the owners of the society are its investors and borrowers, to become publicly-owned banks whose shares are bought and sold on the stock exchange. The comparable US institutions are the savings & loan associations, or ‘thrifts’.

build into / b ld ntu / verb to include something in something which is being set up You must build all the forecasts into the budget. we have built 10% for contingencies into our cost forecast we have added 10% to our basic forecast to allow for items which may appear suddenly

build up / b ld p/ verb 1. to create something by adding pieces together

She bought several shoe shops and gradually built up a chain. 2. to expand something gradually to build up a profitable business to build up a team of sales representatives

buildup / b ld p/ noun a gradual increase a buildup in sales or a sales buildup There will be a big publicity buildup before the launch of the new model. There has been a buildup of complaints about customer service.

bulk buying /b lk ba ŋ/ noun the act of buying large quantities of goods at low prices

bulk carrier /b lk k riə/ noun a ship which carries large quantities of loose goods such as corn or coal

bulk purchase /b lk p% tʃ s/ noun an act of buying a large quantity of goods at low prices

bull /bυl/ noun STOCK EXCHANGE a person who believes the market will rise, and therefore buys shares, commodities or currency to sell at a higher price later (NOTE: The opposite is a

bear.)

‘…lower interest rates are always a bull factor for the stock market’ [Financial Times]

bulldog bond / bυldɒ bɒnd/ noun a bond issued in sterling in the UK mar-

46	Bundesobligation

ket by a non-British corporation. Compare samurai bond, Yankee

bond

bullet / bυl t/ noun US a repayment of the capital of a loan when it matures

bullet bond / bυl t bɒnd/ noun US a eurobond which is only redeemed when it is mature (NOTE: Bullet bonds

are used in payments between central banks and also act as currency backing.)

bullet loan / bυl t ləυn/ noun US a loan which is repaid in a single payment

bullion / bυliən/ noun a gold or silver bars A shipment of gold bullion was stolen from the security van. The price of bullion is fixed daily.

bullion bank / bυliən b ŋk/ noun a bank which holds bullion for customers

bullish / bυl ʃ/ adjective optimistic, feeling that prices of shares will rise

‘…another factor behind the currency market’s bullish mood may be the growing realisation that Japan stands to benefit from the current combination of high domestic interest rates and a steadily rising exchange rate’ [Far Eastern Economic Review]

‘…currency traders chose to ignore better unemployment statistics from France, preferring to focus on the bullish outlook for the dollar’ [Times]

bull market / bυl mɑ k t/ noun a period when share prices rise because people are optimistic and buy shares (NOTE:

The opposite is a bear market.)

bull position / bυl pə z ʃ(ə)n/ noun

STOCK EXCHANGE a strategy of buying shares in the hope that they will rise

bumping / b mp ŋ/ noun 1. US a lay-off procedure that allows an employee with greater seniority to displace a more junior employee The economic recession led to extensive bumping in companies where only the most qualified were retained for some jobs. The trade unions strongly objected to bumping practices since they considered that many employees were being laid off unfairly. 2. the situation where a senior employee takes the place of a junior (in a restaurant)

Bund noun a German government bond

Bundesobligation noun a German medium-term note, which cannot be bought by non-German buyers

bundle

bundle / b nd(ə)l/ noun to make a bundle to make a lot of money (infor-

mal)

bundling / b nd(ə)l ŋ/ noun the action of selling various financial services together as a package, such as a mortgage and house insurance

buoyant / bɔ ənt/ adjective referring to a market where share prices are rising continuously

bureau de change / bjυərəυ dəʃɒn$/ noun an office where you can change foreign currency

business / b zn s/ noun 1. work in buying, selling or doing other things to make a profit We do a lot of business with Japan. Business is expanding. Business is slow. Repairing cars is 90% of our business. We did more business in the week before Christmas than we usually do in a month. Strikes are very bad for business. What’s your line of business? to be in business to run a commercial firm on business doing commercial work She had to go abroad on business. The chairman is in Holland on business. 2. a commercial company He owns a small car repair business. She runs a business from her home. I set up in business as an insurance broker. 3. affairs discussed The main business of the meeting was finished by 3 p.m.

business address / b zn s ə dres/ noun the details of number, street and town where a company is located

business agent / b zn s e d$ənt/ noun US the chief local official of a trade union

business call / b zn s kɔ l/ noun a visit to talk to someone about business

business card / b zn s kɑ d/ noun a card showing a businessperson’s name and the name and address of the company he or she works for

business centre / b zn s sentə/ noun the part of a town where the main banks, shops and offices are located

business computer / b zn s kəm-

pju tə/ noun a powerful small computer programmed for special business uses

business correspondence

/ b zn s kɒr spɒndəns/ noun letters concerned with a business

47	butterfly spread

business correspondent / b zn s kɒr spɒndənt/ noun a journalist who

writes articles on business news for newspapers

business customer / b zn sk stəmə/ noun company which has an

account with a bank

business cycle / b zn s sa k(ə)l/ noun the period during which trade expands, slows down and then expands again. Also called trade cycle

business day / b zn s de / noun a day (a normal weekday) when banks and stock exchanges are open for business

business expenses / b zn s k-

spens z/ plural noun money spent on running a business, not on stock or assets

business hours / b zn s aυəz/ plural noun the time when a business is open, usually 9.00 a.m. to 5.30 p.m.

business magazine / b zn sm əzi n/ noun a magazine dealing with business affairs

businessman / b zn sm n/ noun a man engaged in business

business plan / b zn s pl n/ noun a document drawn up to show how a business is planned to work, with cash flow forecasts, sales forecasts, etc., often used when trying to raise a loan, or when setting up a new business

business rate / b zn s re t/ noun tax levied on business property (NOTE: The

US term is local property tax.)

business ratepayer / b znəs re t-

pe ə/ noun a business which pays local taxes on a shop, office, factory, etc.

business-to-business / b zn s təb zn s/ adjective full form of B2B

business-to-consumer / b zn s tə kən sju mə/ adjective full form of B2C

business transaction / b zn s tr n z kʃən/ noun an act of buying or

selling

businesswoman / b zn sm n/ noun a woman engaged in business

busted bonds / b st d bɒndz/ noun old shares or bonds which are no longer marketable, though the certificates may still have a value as collectors’ items

butterfly spread / b təfla spred/ noun an act of buying two call options

buy

48

by-product

and selling two call options, with different dates and prices, all at the same time

buy /ba / verb to get something by paying money to buy wholesale and sell retail to buy for cash He bought 10,000 shares. The company has been bought by its leading supplier. (NOTE:

buying – bought)

buy back / ba b k/ verb 1. to buy something which you sold earlier She sold the shop last year and is now trying to buy it back. 2. to buy its own shares

buyback / ba b k/ noun 1. a type of loan agreement to repurchase bonds or securities at a later date for the same price as they are being sold 2. an international trading agreement where a company builds a factory in a foreign country and agrees to buy all its production 3. the continuation of a life assurance cover after a claim has been paid on critical illness under a policy that provides cover against both critical illness and death

‘…the corporate sector also continued to return cash to shareholders in the form of buy-backs, while raising little money in the form of new or rights issues’ [Financial Times]

buydown / ba daυn/ noun US the action of paying extra money to a mortgage in order to get a better rate in the future

buyer / ba ə/ noun 1. a person who buys there were no buyers no one wanted to buy 2. a person who buys stock on behalf of a trading organisation for resale or for use in production

buyer’s market / ba əz mɑ k t/ noun a market where products are sold cheaply because there are few people who want to buy them (NOTE: The op-

posite is seller’s market.)

buy forward /ba fɔ wəd/ verb to buy foreign currency before you need it, in order to be sure of the exchange rate

buy in / ba n/ verb 1. (of a seller at an auction) to buy the thing which you are trying to sell because no one will pay the price you want 2. to buy stock to cover a position 3. (of a company) to buy its own shares

buying / ba ŋ/ noun the act of getting something for money

buying department / ba ŋ d -

pɑ tmənt/ noun the department in a company which buys raw materials or goods for use in the company

buying power / ba ŋ paυə/ noun the ability to buy The buying power of the pound has fallen over the last five years.

buyout / ba aυt/ noun the purchase of a controlling interest in a company

‘…we also invest in companies whose growth and profitability could be improved by a management buyout’ [Times]

‘…in a normal leveraged buyout, the acquirer raises money by borrowing against the assets or cash flow of the target company’ [Fortune]

buy to let / ba tə let/ verb a situation where a property is bought as an investment to rent out rather than live in

BV noun a Dutch public limited company. Full form besloten

venootschap

bylaws / ba lɔ z/ plural noun US rules governing the internal running of a corporation (the number of meetings, the appointment of officers, etc.) (NOTE: In

the UK, these are called Articles of Association.)

by-product / ba prɒd kt/ noun a product made as a result of manufacturing a main product

C

CA abbreviation chartered accountant

CAB abbreviation Citizens Advice Bureau

cable / ke b(ə)l/ noun 1. a telegram, a message sent by telegraph He sent a cable to his office asking for more money. 2. a spot exchange rate for the dollar and sterling verb to send a message or money by telegraph He cabled his office to ask them to send more money. The office cabled him £1,000 to cover his expenses. The money was cabled to the Spanish bank.

cable address / ke b(ə)l ə dres/ noun a short address for sending cables

cable transfer / ke b(ə)l tr nsf% / noun a transfer of money by telegraph

CAC 40 / si e si fɔ ti/, CAC 40 index noun an index of prices on the Paris Stock Exchange, based on the prices of forty leading shares

CAD /k d/ abbreviation cash against documents

cage /ke d$/ noun US 1. the part of a broking firm where the paperwork involved in buying and selling shares is processed (NOTE: The UK term is back office.) 2. a section of a bank where a teller works (surrounded by glass windows)

caisse d’épargne noun the French word for savings bank

caja popular noun the Spanish word for savings bank

calculate / k lkjυle t/ verb 1. to find the answer to a problem using numbers

The bank clerk calculated the rate of exchange for the dollar. 2. to estimate I calculate that we have six months’ stock left.

calculation / k lkjυ le ʃ(ə)n/ noun the answer to a problem in mathematics

According to my calculations, we have six months’ stock left. we are

£20,000 out in our calculations we have made a mistake in our calculations and arrived at a figure which is £20,000 too much or too little

calculator / k lkjυle tə/ noun an electronic machine which does calculations such as adding, subtracting and multiplying He worked out the discount on his calculator.

calendar / k l ndə/ noun 1. a book or set of sheets of paper showing the days and months in a year, often attached to pictures 2. a list of dates, especially a list of dates of new share issues

calendar month / k l ndə m nθ/ noun a whole month as on a calendar, from the 1st to the 30th or 31st Ninety days’ credit is almost three calendar months.

calendar year / k l ndə j ə/ noun a year from the 1st January to 31st December

call /kɔ l/ noun 1. a conversation on the telephone to make a call to dial and speak to someone on the telephone

to take a call to answer the telephone

to log calls to note all details of telephone calls made 2. a demand for repayment of a loan by a lender 3. FIN a demand to pay for new shares which then become paid up 4. FIN a price

established during a trading session

5. a visit The salespeople make six calls a day. verb 1. to ask for a loan to be repaid immediately 2. to telephone someone I’ll call you at your office tomorrow. 3. to call on someone to visit someone Our salespeople call on their best accounts twice a month. 4. to ask for or order something to be done to call a meeting the union called a strike the union told its members to go on strike

callable bond

callable bond / kɔ ləb(ə)l bɒnd/ noun a bond which can be redeemed before it matures

callable capital / kɔ ləb(ə)lk p t(ə)l/ noun the part of a company’s capital which has not been called up

call-back pay / kɔ l b k pe / noun pay given to an employee who has been called back to work after their normal working hours

called up capital / kɔ ld pk p t(ə)l/ noun a share capital in a company which has been called up but not yet paid for

‘…a circular to shareholders highlights that the company’s net assets as at August 1, amounted to œ47.9 million – less than half the company’s called-up share capital of œ96.8 million. Accordingly, an EGM has been called for October 7’ [Times]

call in / kɔ l n/ verb to ask for a debt to be paid

call loan / kɔ l ləυn/ noun a bank loan repayable at call

call money / kɔ l m ni/ noun money loaned for which repayment can be demanded without notice. Also called

money at call, money on call

call option / kɔ l ɒpʃən/ noun an option to buy shares at a future date and at a specific price (NOTE: The opposite, an

option to sell, is a put option.)

call-over price / kɔ l əυvə pra s/ noun a price which is applied when selling is conducted by a chairman, and not by open outcry

call price / kɔ l pra s/ noun STOCK EXCHANGE a price to be paid on redemption of a US bond

call purchase / kɔ l p% tʃ s/, call

sale / kɔ l se l/ noun STOCK EXCHANGE a transaction where the seller or purchaser can fix the price for future delivery

call rate / kɔ l re t/ noun 1. the number of calls per day or per week which a salesperson makes on customers 2. a rate of interest on money at call

call rule / kɔ l ru l/ noun STOCK EXCHANGE a price fixed on a Stock Exchange at the end of a day’s trading and which remains valid until trading starts again the next day

call up / kɔ l p/ verb to ask for share capital to be paid

50

CAP

calm /kɑ m/ adjective quiet, not excited The markets were calmer after the government statement on the exchange rate.

cambio noun the Spanish word for foreign exchange

cambiste noun the French word for a foreign exchange broker

cancel / k nsəl/ verb 1. to stop something which has been agreed or planned

to cancel an appointment or a meeting

The government has cancelled the order for a fleet of buses. The manager is still ill, so the interviews planned for

this week have been cancelled. (NOTE: cancelling – cancelled) 2. to cancel a cheque to stop payment of a cheque which has been signed

cancellation / k nsə le ʃ(ə)n/ noun the act of stopping something which has been agreed or planned the cancellation of an appointment the cancellation of an agreement

cancellation clause / k nsə-

le ʃ(ə)n klɔ z/ noun a clause in a contract which states the terms on which the contract may be cancelled

cancel out / k nsəl aυt/ verb (of two things) to balance each other or act against each other so that there is no change in the existing situation The two clauses cancel each other out. Higher costs have cancelled out the increased sales revenue.

candlestick chart / k nd(ə)lst k tʃɑ t/ noun a chart similar to a bar chart, but showing the opening and close as well as the high and low figures for a particular period. These are shown as lines standing up on top of the body of the chart or hanging down beneath it, so that they look a little like the wick on a candle.

cap /k p/ noun 1. an upper limit placed on something, such as an interest rate (the opposite, i.e. a lower limit, is a ‘floor’) 2. same as capitalisation (informal) Last year the total market cap of all the world’s gold companies fell from $71 billion to $46 billion. verb to place an upper limit on something to cap a local authority’s budget to cap a department’s budget (NOTE: cap-

ping – capped)

CAP abbreviation Common Agricultural Policy

/ k p t(ə)l

capacity

capacity /kə p s ti/ noun 1. the amount which can be produced, or the amount of work which can be done industrial or manufacturing or production capacity to work at full capacity to do as much work as possible 2. the amount of space 3. ability She has a particular capacity for detailed business deals with overseas companies. 4. (of a borrower) the ability to pay back a loan

5. speaking in an official capacity speaking officially

‘…analysts are increasingly convinced that the industry simply has too much capacity’ [Fortune]

capacity utilisation /kə p sətiju t la ze ʃ(ə)n/ noun the fact of us-

ing something as much as possible

cap and collar / k p ən kɒlə/ noun an agreement giving both an upper and a lower limit to a loan

capita / k p tə/ per capita

capital / k p t(ə)l/ noun 1. the money, property and assets used in a business a company with £10,000 capital or with a capital of £10,000 2. money owned by individuals or companies, which they use for investment flight of capital the rapid movement of capital out of one country because of lack of confidence in that country’s economic future

‘…issued and fully paid capital is $100 million, comprising 2340 shares of $100 each and 997,660 ordinary shares of $100 each’ [Hongkong Standard]

capital account / k p t(ə)l ə-

kaυnt/ noun 1. an account of dealings such as money invested in or taken out of the company by the owners of a company 2. items in a country’s balance of payments which do not refer to the buying and selling merchandise, but refer to investments 3. the total equity in a business

capital adequacy

d kwəsi/, capital adequacy ratio

/ k p t(ə)l d kwəsi re ʃiəυ/ noun the amount of money which a bank has to have in the form of shareholders’ capital, shown as a percentage of its assets. Also called capital-to-asset ratio

(NOTE: The amount is internationally agreed at 8%.)

capital allowances / k p tl ə-

laυəns z/ plural noun the allowances based on the value of fixed assets which

51	capital exports

may be deducted from a company’s profits and so reduce its tax liability

COMMENT: Under current UK law, depreciation is not allowable for tax on profits, whereas capital allowances, based on the value of fixed assets owned by the company, are tax-allowable.

capital asset pricing model

/ k p t(ə)l set pra s ŋ mɒd(ə)l/ noun method of calculating the expected return on a share, by showing what percentage of future return is dependent on the movements of the stock market taken as a whole. Abbreviation

CAPM

capital assets / k p t(ə)l sets/ plural noun the property, machines and other assets, which a company owns and uses but which it does not buy and sell as part of its regular trade. Also called

fixed assets

capital base / k p t(ə)l be s/ noun the capital structure of a company (shareholders’ capital plus certain loans and retained profits) used as a way of assessing the company’s worth

capital bonus / k p t(ə)l bəυnəs/ noun an extra payment by an insurance company which is produced by a capital gain

capital city / k p t(ə)l s ti/ noun the main city in a country, where the government is located

capital commitments / k p t(ə)l kə m tmənts/ plural noun expenditure

on assets which has been authorised by directors, but not yet spent at the end of a financial period

capital employed / k p t(ə)l m-

plɔ d/ noun an amount of capital consisting of shareholders’ funds plus the long-term debts of a business. return

on capital employed

capital equipment / k p t(ə)l -

kw pmənt/ noun equipment which a factory or office uses to work

capital expenditure / k p t(ə)l k-

spend tʃə/ noun money spent on fixed assets (property, machines and furniture). Also called capital investment,

capital outlay

capital exports / k p t(ə)lekspɔ ts/ plural noun the movement of

capital out of a country (into overseas investments, or into loans to overseas countries)

capital flow

capital flow / k p t(ə)l fləυ/ noun the movement of investment capital from one country to another. Also called

capital movement, movement of capital

capital gains / k p t(ə)l e nz/ plural noun money made by selling a fixed asset or by selling shares (NOTE: If

the asset is sold for less than its purchase price, the result is a capital loss.)

COMMENT: In the UK capital gains tax is payable on the sale of assets, in particular shares and properties, above a certain minimum level.

capital gains tax / k p t(ə)l e nz t ks/ noun a tax paid on capital gains. Abbreviation CGT

capital goods / k p t(ə)l υdz/ plural noun machinery, buildings and raw materials which are used to make other goods

capital-intensive industry

/ k p t(ə)l n tens v ndəstri/ noun an industry which needs a large amount of capital investment in plant to make it work

capitalisation / k p t(ə)la -

ze ʃ(ə)n/, capitalization noun the value of a company calculated by multiplying the price of its shares on the stock exchange by the number of shares issued. Also called market

capitalisation

‘…she aimed to double the company’s market capitalization’ [Fortune]

capitalisation issue noun same as bonus issue

capitalisation of reserves

/ k p t(ə)la ze ʃ(ə)n əv r z% vz/ noun the issuing free bonus shares to shareholders

capitalise / k p t(ə)la z/, capitalize verb 1. to invest money in a working company the company is capitalised at £10,000 the company has a working capital of £10,000 2. to convert reserves or assets into capital

‘…at its last traded price the bank was capitalized at around $1.05 billion with 60 per cent in the hands of the family’ [South China Morning Post]

capitalise on / k p t(ə)la z ɒn/ verb to make a profit from We are seeking to capitalise on our market position.

52	capital reserves

capitalism / k p t(ə)l z(ə)m/ noun the economic system in which each person has the right to invest money, to work in business and to buy and sell, with no restrictions from the state

capitalist / k p t(ə)l st/ adjective working according to the principles of capitalism the capitalist system the capitalist countries or world noun a person who invests capital in business enterprises

capitalist economy / k p t(ə)l st

kɒnəmi/ noun an economy in which each person has the right to invest money, to work in business and to buy and sell, with no restrictions from the state

capital levy / k p t(ə)l levi/ noun a tax on the value of a person’s property and possessions

capital loss / k p t(ə)l lɒs/ noun a loss made by selling assets (NOTE: The

opposite is capital gain.)

capital market / k p t(ə)l mɑ k t/ noun an international market where money can be raised for investment in a business

capital movement / k p t(ə)lmu vmənt/ noun same as capital flow

capital outlay / k p t(ə)l aυtle / noun same as capital expenditure

capital profit / k p t(ə)l prɒf t/ noun a profit made by selling an asset

capital-protected fund / k p t(ə)l prə tekt d f nd/ noun a fund which

guarantees the investor’s capital and at the same time gives some growth

capital ratio / k p t(ə)l re ʃiəυ/ noun same as capital adequacy ratio

capital requirements / k p t(ə)l r kwa əmənts/ plural noun 1. the

amount of capital which a firm needs to operate normally 2. the amount of liquid assets needed by a bank to fulfil its obligations

capital reserves / k p t(ə)l r -

z% vz/ plural noun 1. money from profits, which forms part of the capital of a company and can be used for distribution to shareholders only when a company is wound up. Also called

undistributable reserves 2. the share capital of a company which comes from selling assets and not from normal trading

capital shares

capital shares / k p t(ə)l ʃeəz/

plural noun (on the Stock Exchange) shares in a unit trust which rise in value as the capital value of the units rises, but do not receive any income (NOTE: The

other form of shares in a split-level investment trust are income shares, which receive income from the investments, but do not rise in value.)

capital structure / k p t(ə)lstr ktʃə/ noun the way in which a

company’s capital is made up from various sources

capital transfer tax / k p t(ə)ltr nsf% t ks/ noun formerly, a tax

on gifts or bequests of money or property

CAPM abbreviation capital asset pricing model

capped floating rate note / k ptfləυt ŋ re t nəυt/ noun a floating rate

note which has an agreed maximum rate

capped rate / k pt re t/ verb a mortgage rate which is guaranteed not to go above a certain level for a set period of time, although it can move downwards

captive market / k pt v mɑ k t/ noun a market where one supplier has a monopoly and the buyer has no choice over the product which he or she must purchase

capture / k ptʃə/ verb to take or get control of something to capture 10% of the market to sell hard, and so take a 10% market share to capture 20% of a company’s shares to buy shares in a company rapidly and so own 20% of it

carat / k rət/ noun 1. a measure of the quality of gold (pure gold being 24 carat) a 22-carat gold ring 2. a measure of the weight of precious stones a 5-carat diamond

COMMENT: Pure gold is 24 carats and is too soft to make jewellery. Most jewellery and other items made from gold are not pure, but between 19 and 22 carats. 22 carat gold has 22 parts of gold to two parts of alloy.

card /kɑ d/ noun a small piece of cardboard or plastic, usually with information printed on it He showed his staff card to get a discount in the store.

cardholder / kɑ d həυldə/ noun a person who holds a credit card or bank cash card

53

cartel

card index / kɑ d ndeks/ noun a series of cards with information written on them, kept in special order so that the information can be found easily We use an alphabetical card-index system for staff records.

carpetbagger / kɑ p t b ə/ noun a person who invests in a building society or pension fund, hoping to benefit from eventual windfall payments if the society is demutualised or the fund is bought

carriage / k r d$/ noun the transporting of goods from one place to another

to pay for carriage

carriage forward / k r d$ fɔ wəd/ noun a deal where the customer pays for transporting the goods

carriage free / k r d$ fri / noun the customer does not pay for the shipping

carriage paid / k r d$ pe d/ noun a deal where the seller has paid for the shipping

carrier / k riə/ noun 1. a company which transports goods We only use reputable carriers. 2. a vehicle or ship which transports goods

carry / k ri/ verb 1. to take from one place to another a tanker carrying oil from the Gulf The truck was carrying goods to the supermarket. 2. to vote to approve the motion was carried the motion was accepted after a vote 3. to produce The bonds carry interest at 10%. noun the cost of borrowing to finance a deal (NOTE: carries – carry-

ing – carried)

carry forward / k ri fɔ wəd/ verb to take an account balance at the end of the current period or page as the starting point for the next period or page

carry over / k ri əυvə/ verb to carry over a balance to take a balance from the end of one page or period to the beginning of the next

carry-over / k ri əυvə/ noun 1. the stock of a commodity held at the beginning of a new financial year 2. the fact of not paying an account on settlement day, but later. Also called contango

carryover day / k ri əυvə de / noun the first day of trading on a new account on the London Stock Exchange

cartel /kɑ tel/ noun a group of companies which try to fix the price or to

cash

regulate the supply of a product so that they can make more profit

cash /k ʃ/ noun money in the form of coins or notes verb to cash a cheque to exchange a cheque for cash

cashable / k ʃəb(ə)l/ adjective which can be cashed A crossed cheque is not cashable at any bank.

cash account / k ʃ ə kaυnt/ noun an account which records the money which is received and spent

cash advance /k ʃ əd vɑ ns/ noun a loan in cash against a future payment

cash against documents / k ʃ ə enst dɒkjυmənts/ noun a system

whereby a buyer receives documents for the goods on payment of a bill of exchange

cash and carry / k ʃ ən k ri/ noun 1. a large store selling goods at low prices, where the customer pays cash and takes the goods away immediately We get our supplies every morning from the cash and carry. 2. buying a commodity for cash and selling the same commodity on the futures market

‘…the small independent retailer who stocks up using cash and carries could be hit hard by the loss of footfall associated with any increase in smuggled goods’ [The Grocer]

cash balance / k ʃ b ləns/ noun a balance in cash, as opposed to amounts owed

cash basis /k ʃ be s s/ noun a method of preparing the accounts of a business, where receipts and payments are shown at the time when they are made (as opposed to showing debts or credits which are outstanding at the end of the accounting period). Also called

receipts and payments basis

cash book / k ʃ bυk/ noun a book which records cash received and paid out

cash box / k ʃ bɒks/ noun metal box for keeping cash

cash budget / k ʃ b d$ t/ noun a plan of cash income and expenditure

cash card / k ʃ kɑ d/ noun a plastic card used to obtain money from a cash dispenser

cash cow / k ʃ kaυ/ noun a product or subsidiary company that consistently generates good profits but does not provide growth

54

cash in

cash crop / k ʃ krɒp/ noun an agricultural crop grown for sale to other buyers or to other countries, rather than for domestic consumption

cash deal / k ʃ di l/ noun a sale done for cash

cash desk / k ʃ desk/ noun the place in a store where you pay for the goods bought

cash discount /k ʃ d skaυnt/ noun a discount given for payment in cash. Also called discount for cash

cash dispenser / k ʃ d spensə/ noun a machine which gives out money when a special card is inserted and instructions given

cash dividend /k ʃ d v dend/ noun a dividend paid in cash, as opposed to a dividend in the form of bonus shares

cash economy /k ʃ kɒnəmi/ noun a black economy, where goods and services are paid for in cash, and therefore not declared for tax

cash float / k ʃ fləυt/ noun cash put into the cash box at the beginning of the day or week to allow change to be given to customers

cash flow / k ʃ fləυ/ noun cash which comes into a company from sales (cash inflow) or the money which goes out in purchases or overhead expenditure (cash outflow) the company is suffering from cash flow problems cash income is not coming in fast enough to pay the expenditure going out

cash flow forecast / k ʃ fləυfɔ kɑ st/ noun a forecast of when cash will be received or paid out

cash flow statement / k ʃ fləυste tmənt/ noun a report which shows

cash sales and purchases

cashier /k ʃ ə/ noun 1. a person who takes money from customers in a shop or who deals with the money that has been paid 2. a person who deals with customers in a bank and takes or gives cash at the counter

cashier’s check /k ʃ əz tʃek/ noun US a bank’s own cheque, drawn on itself and signed by a cashier or other bank official

cash in /k ʃ n/ verb to sell shares or other property for cash

cash in hand

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casual worker

cash in hand / k ʃ n h nd/ noun money and notes, kept to pay small amounts but not deposited in the bank

cash in on / k ʃ n ɒn/ verb to profit from The company is cashing in on the interest in computer games.

cash in transit / k ʃ n tr nz t/ noun cash being moved from one bank or business to another Cash-in-transit services are an easy target for robbers.

cash items / k ʃ a təmz/ plural noun goods sold for cash

cashless society / k ʃləs sə-

sa əti/ noun a society where no one uses cash, all purchases being made by credit cards, charge cards, cheques or direct transfer from one account to another

cash limit /k ʃ l m t/ noun 1. a fixed amount of money which can be spent during a certain period 2. a maximum amount someone can withdraw from an ATM using a cash card

cash market /k ʃ mɑ k t/ noun the gilt-edged securities market (where purchases are paid for almost immediately, as opposed to the futures market)

cash offer / k ʃ ɒfə/ noun an offer to pay in cash, especially an offer to pay cash when buying shares in a takeover bid

cash on delivery / k ʃ ɒn d -

l v(ə)ri/ noun payment in cash when goods are delivered. Abbreviation COD

cash payment / k ʃ pe mənt/ noun payment in cash

cash position / k ʃ pə z ʃ(ə)n/ noun a state of the cash which a company currently has available

cash positive /k ʃ pɒz t v/ adjective having cash in hand, as opposed to having debts and overdrafts

‘…as the group’s shares are already widely held, the listing will be via an introduction. It will also be accompanied by a deeply discounted £25m rights issue, leaving the company cash positive’ [Sunday Times]

cash price / k ʃ pra s/ noun a lower price or better terms which apply if the customer pays cash

cash purchase / k ʃ p% tʃ s/ noun a purchase made for cash

cash register / k ʃ red$ stə/ noun a machine which shows and adds the

prices of items bought, with a drawer for keeping the cash received

cash reserves / k ʃ r z% vz/ plural noun a company’s reserves in cash deposits or bills kept in case of urgent need The company was forced to fall back on its cash reserves.

cash sale / k ʃ se l/ noun a transaction paid for in cash

cash-strapped / k ʃ str pt/ adjective short of money

cash terms / k ʃ t% mz/ plural noun lower terms which apply if the customer pays cash

cash till / k ʃ t l/ noun same as cash register

cash transaction / k ʃ tr n-

z kʃən/ noun a transaction paid for in cash

cash transfer hatch /k ʃ tr nsf% h tʃ/ noun a small door in an outside wall, allowing cash to be passed through (as from a supermarket to a security van)

cash up / k ʃ p/ verb to add up the cash in a shop at the end of the day

cash voucher / k ʃ vaυtʃə/ noun a piece of paper which can be exchanged for cash With every £20 of purchases, the customer gets a cash voucher to the value of £2.

Cashwire / k ʃwa ə/ noun US a system operated by a group of banks to clear payments between member banks

cash with order / k ʃ w ð ɔ də/ noun terms of sale showing the payment has to be made in cash when the order is placed. Abbreviation CWO

casting vote / kɑ st ŋ vəυt/ noun a vote used by the chairman in the case where the votes for and against a proposal are equal The chairman has the casting vote. He used his casting vote to block the motion.

casual / k $uəl/ adjective not permanent, or not regular

casual labour / k $uəl le bə/ noun workers who are hired for a short period

casual work / k $uəl w% k/ noun work where the workers are hired for a short period

casual worker / k $uəl w% kə/ noun a worker who can be hired for a short period