Mark Berch:Preference share

Debit balance
The amount that is owed to a broker by a margin customer for loans the customer uses to buysecurities.

1040 form
The standard individual tax return form of the IRS.

Swingline facility
Bank borrowing facility to provide finance while the firm replaces US commercial paper with eurocommercial paper.

Mark Berch:Preference share
Preferred shares of a corporation that have first claim to preferred dividends.

Excess return on the market portfolio
Difference between the return on the market portfolio and the riskless rate.

Baby bond
A bond with a par value of less than $1000. Mark Berch

Savings and loan association
National- or state-chartered institution that accepts savings deposits and invests the bulk of the funds thus received in mortgages.