Voluntary reserve is a monetary reserves held by insurance companies. Government agencies often regulate the reserve requirements of financial institutions and insurance companies to ensure their solvency. Voluntary reserves are known as additionally held liquid assets.
An unlimited liability corporation (ULC) is a corporate structure used in Canada that allows shareholders to be liable if the company declares bankruptcy. Sometimes ex-shareholders are also liable, depending on how recently they sold their stock. Despite this disadvantage, the structure of a ULC can be preferable in certain circumstances due to the tax benefits granted to shareholders of these companies.
Voluntary reserve is a monetary reserves held by insurance companies. Government agencies often regulate the reserve requirements of financial institutions and insurance companies to ensure their solvency. Voluntary reserves are known as additionally held liquid assets.
Modified duration is a formula that expresses the measurable change in the value of a security in response to a change in interest rates. Modified duration follows the concept that interest rates and bond prices move in opposite directions. This formula is used to determine the effect that a 100-basis-point (1 percent) change in interest rates will have on the price of a bond. Calculated as:
Long-term care (LTC) insurance is coverage that provides nursing-home care, home-health care, personal or adult day care for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs.
An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, the future resale of the property, or both. The property may be held by an individual investor, a group of investors, or a corporation.
An umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of the insured’s homeowners, auto, or watercraft insurance. It provides an additional layer of security to those who are at risk of being sued for damages to other people’s property or injuries caused to others in an accident. It also protects against libel, vandalism, slander, and invasion of privacy.
On-the-run Treasuries are the most recently issued U.S. Treasury bonds or notes of a particular maturity. On-the-run Treasuries are the opposite of off-the-run Treasuries, which refer to Treasury securities that have been issued before the most recent issue and are still outstanding. Media mentions about Treasury yields and prices generally reference on-the-run Treasuries.
Expansionary, or loose policy is a form of macroeconomic policy that seeks to encourage economic growth. Expansionary policy can consist of either monetary policy or fiscal policy (or a combination of the two). It is part of the general policy prescription of Keynesian economics, to be used during economic slowdowns and recessions in order to moderate the downside of economic cycles.
William Dillard II is the chairman of the board and chief executive officer (CEO) of Dillard’s Inc., a chain of department stores based in Little Rock, Arkansas. He’s the oldest son of William T. Dillard, the founder of Dillard Department Stores. He began his career at Dillard’s in 1967 and became executive vice president in 1973. From 1977 to 1998, he served as president and chief operating officer (COO). In 1998, he was named CEO of Dillard’s. In 2002, Dillard II also became the Chairman.