What was the Savings and Loan Crisis? The savings and loan crisis refers to the collapse of 1,043 out of 3,234 savings and loan associations (S&Ls) in the United States during the 1980s and 1990s. The S&L crisis was considered to be one of the most devastating failures of the banking industry in the United…
What are Scrips? Scrips refer to any object that is used as an alternative or substitute to legal tender. They were a popular alternative to wages and were used as a means to exploit workers. Today, scrips are used in the form of gift cards, tokens, certificates, and rewards points. History of Scrips Scrips can…
What is Quarter on Quarter (QOQ)? Quarter on quarter (QOQ) is the rate of change between quarterly fiscal data. It is a commonly used metric in determining a company’s quarterly growth or, alternatively, used broadly to evaluate macroeconomic performance (such as GDP). QOQ is used synonymously with quarter over quarter (Q/Q). Understanding Quarter on Quarter…
What is a Non-Qualified Plan? A non-qualified plan is an employer-sponsored, tax-deferred retirement savings plan that falls outside the Employment Retirement Income Security Act (ERISA). Unlike qualified plans, non-qualified plans are exempt from the regulations and testing that apply to qualified plans. Non-qualified plans are used as a recruitment and retention tool for key executives…
What is Non-Qualified Deferred Compensation (NQDC)? A non-qualified deferred compensation (NQDC) plan is a type of non-qualifying plan that falls outside the Employment Retirement Security Income Act (ERISA). NQDC plans are also known as 409 (a) plans and golden handcuffs. Employers use such plans to attract and retain key executives and valuable employees. As the…
What is a Non-Purpose Loan? A non-purpose loan is a type of loan that involves complex structuring and uses investment securities as collateral. Borrowers do not need to liquidate their securities and can continue to receive the interest and dividend income from their securities. How Does a Non-Purpose Loan Work? Financial institutions and brokerages offer…
What Does Non-Owner-Occupied Mean? Non-owner-occupied is a property classification in real estate for properties that are not occupied by their owners. Generally, the classification is only used in residential real estate. The term is commonly used for single-family homes and condominiums that are owned but rented to tenants. This classification can also apply to multi-family…
Who is a Non-Objecting Beneficial Owner (NOBO)? The term non-objecting beneficial owner (NOBO) refers to beneficial owners of companies who have permitted their financial institutions to release their personal information to the companies they have invested in. The information given out includes the name and address of the beneficial owner, along with information regarding their…
What is the Japan Credit Rating Agency (JCR)? The Japan Credit Rating Agency (JCR) is a financial services company that provides credit ratings for corporate debt in Japan. Not only does it provide ratings for debt securities, Japanese companies, and governments, but it also publishes financial and economic research as well as offers expertise for…
What is an Interim Dividend? An interim dividend is the distribution of earnings to shareholders before the end of the fiscal year. Such dividends are typically paid out monthly or quarterly and in smaller amounts than an annual dividend. Understanding Dividends To better understand an interim dividend, it is important to first understand how dividends…
