Page 433 - FY 2026-2027 Adopted Budget Book

is lending money, that is, increasing bank dividing the current dollar income by the
reserves. current market price for the investment. (b)
NET YIELD or YIELD TO MATURITY is the
SAFEKEEPING: A service to customers current income yield minus any premium
rendered by banks for a fee whereby above par or plus any discount from par in
securities and valuables of all types and purchase price, with the adjustment spread
descriptions are held by the bank for over the period from the date of purchase
protection. to the date of maturity of the bond.

SECONDARY MARKET: A market made for
the purchase and sale of outstanding
issues following the initial distribution.

SECURITIES & EXCHANGE
COMMISSION:
Agency created by Congress to protect
investors in securities transactions by
administering securities legislation.

TREASURY BILLS: A non -interest -bearing
discount security issued by the U.S.
Treasury to finance the national debt. Most
bills are issued to mature in three months,
six months, or one year.

TREASURY BONDS: Long -term coupon
bearing
U.S. Treasury securities issued as direct
obligations of the U.S. Government and
having initial maturities of more than 10
years.

TREASURY NOTES: A medium -term
coupon bearing U.S. Treasury securities
issued as direct obligation of the U.S.
Government and having initial maturities
from two to 10 years.

UNIFORM NET CAPITAL RULE (Rule 15c3 -
1):
Requires that firms must at all times have
and maintain net capital at specific levels
to protect customers and creditors from
monetary losses that can occur when firms
fail.

YIELD: The rate of annual income return on
an investment, expressed as a percentage.
(a) CURRENT YIELD is obtained by

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