Term of the day
Scheduled Recast
A recalculation of the remaining amortization schedule of a mortgage at a certain date set and known in advance. A scheduled recast is part of some mortgage programs
 
Employee Buyout (EBO)
A restructuring strategy in which employees buy a majority stake in their own firms. This form of buyout is often done by firms looking for an alternative to a leveraged buyout.
 
Saver's Tax Credit
A non-refundable tax credit available to lower income individuals and households that contribute to qualified retirement savings plans. This includes employer-sponsored plans such as 401(k),
 
Compliance
A process where Visa resolves disputes between members arising from violations of the Visa International Operating Regulations, when the requesting member can certify that a financial loss has occurred,
 
Crossover Fund
An investment fund that has investment holdings in both public and private equity. This is to say that it invests in companies that are traded publicly, and in companies that are privately held.
 
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Financial Term Of The Day

Retention Tax
A mandatory tax placed on income that is earned on investments in a country that is not the resident's home country. This only applies to countries that are members of the European Union (EU).
 

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