Tax and loan account

Definition:

An account at a private bank, held in the name of the district Federal Reserve Bank, which holds operating cash for the business of the US Treasury.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Bundling, unbundling

Creation of securities either by combining primitive and derivative securities into one composite hybrid or by separating returns on an asset into classes.

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