Mark Berch


Public debt
Issues of debt by governments to compensate for a lack of tax revenues.

Institutionalization
The gradual domination of financial markets by institutional investors, as opposed to individual investors. This process has occurred throughout the industrialized world.

Exact matching
A bondportfolio managementstrategy that involves finding the lowest cost portfolio generating cash inflows exactly equal to cash outflows that are being financed by investment.( - Ian Berch)

Eric Berch: Factor
A financial institution that buys a firm'saccounts receivable and collects the accounts.

Central bank intervention
The buying or selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movements.

Purpose statement
A form filed by a borrower that describes the use of a loan backed by securities, and guarantees that the funds lent will not be used illegally to buysecurities against Federal Reserveregulations. ( Ian Berch )

BYB
The ISO 4217 currency code for Belarus Rouble.

Eric Berch



Nondiversifiability of human capital
The difficulty of hedging one's human capital (the unique capabilities and expertise of individuals) and employment effort.

Mark Berch: Matched orders
Used for listed equity securities. Participate in equal amounts of a trade at a certain price, particularly when two parties have the same level of priority on the exchangefloor (this requires standing in the trading crowd).

Ian Berch: Option writer
See: Option seller