Tenancy-at-will is a property tenure that can be terminated at any time by either the tenant or the owner or landlord. It exists without a contract or lease and usually does not specify the length of a tenant’s duration or the exchange of payment.
A non-operating asset is a class of assets that are not essential to the ongoing operations of a business but may still generate income or provide a return on investment (ROI). These assets are listed on a company’s balance sheet along with its operating assets, and they may or may not be broken out separately.
Other post-retirement benefits are benefits, other than pension distributions, paid to employees during their retirement years. Post-retirement benefits may include life insurance and medical plans, or premiums for such benefits, as well as deferred-compensation arrangements.
Form 1098, Mortgage Interest Statement, is an Internal Revenue Service (IRS) form that’s used to report the amount of interest and related expenses paid on a mortgage during the tax year by an individual or a sole proprietor when the amount totals $600 or more. “Related expenses” include points paid on the purchase of the property. Points refer to interest paid in advance or simply prepaid interest made on a home loan to improve the rate on the mortgage offered by the lending institution. Interest payments made by a trust, estate, corporation, or partnership do not need to be filed.
Management by objectives (MBO) is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees. According to the theory, having a say in goal setting and action plans encourages participation and commitment among employees, as well as aligning objectives across the organization.
A workable indication is a nominal quote expressed in the municipal bond market showing the price at which a dealer is willing to either buy or sell a particular issue. This indicator differs from a firm quote as revisions to the offer are allowed within a specified period, usually one hour.
Automatic stabilizers are a type of fiscal policy designed to offset fluctuations in a nation’s economic activity through their normal operation without additional, timely authorization by the government or policymakers. The best-known automatic stabilizers are progressively graduated corporate and personal income taxes, and transfer systems such as unemployment insurance and welfare. Automatic stabilizers are so called because they act to stabilize economic cycles and are automatically triggered without additional government action.
An ombudsman is an official, usually appointed by the government, who investigates complaints (usually lodged by private citizens) against businesses, financial institutions, or government departments or other public entities, and attempts to resolve the conflicts or concerns raised, either by mediation or by making recommendations.
The term QE2 refers to the second round of the Federal Reserve’s quantitative easing program that sought to stimulate the U.S. economy following the 2008 financial crisis and Great Recession. Announced in November 2010, QE2 consisted of a further $600 billion in U.S. Treasuries, and reinvestment of proceeds from prior mortgage-backed security purchases.
A liquidity adjustment facility (LAF) is a tool used in monetary policy, primarily by the Reserve Bank of India (RBI), that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements. This arrangement manages liquidity pressures and assures basic stability in the financial markets. In the United States, the Federal Reserve transacts repos and reverse repos under its open market operations.