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GLOSSARY
Buyer's market
A situation in the real estate market when sellers significantly outnumber buyers, driving prices down. This is historically a good time to buy your home. The conditions are constantly changing.
Buyer's remorse
A buyer's second thoughts after buying a house or other major purchase, a feeling of anxiety or being overwhelmed by the thought of another financial responsibility.
Bylaws
Bylaws are the rules adopted by a corporation that define the roles and responsibilities of shareholders, directors, and officers.
Cafeteria plan
A cafeteria plan is a type of employee benefit program that gives employees the ability to choose which nontaxable fringe benefits they will receive. The benefits are funded with pre-tax employee contributions, employer contributions, or a combination of both.
Call
A call is a bond issuer's right to pay off a bond before the scheduled maturity, or a lender's right to demand full repayment of a loan before the scheduled maturity date. The term can also be used as a shortened version of call option, which is a contract allowing the holder to purchase a security at a certain price for a specific period of time.
Call loan
A call loan is a debt instrument that gives the lender the right to demand full repayment prior to the scheduled maturity.
Call money market
The call money market provides short-term financing for brokers and dealers. Securities brokers might need such credit to support their own securities purchases, or to support the margin accounts that they provide to their customers.
Call money rate
Call money rate is the total annual finance charges, expressed as a percentage of the debt, that banks charge when making loans to brokers. Brokers might use the debt to support margin loans made to their customers.
Call option
Call option is a condition provided in the mortgage deed which gives a right to the mortgagee to call the mortgage due and payable at the end of a determined period for any reason.
Callable CD or bond
A callable CD or bond can be redeemed by the issuer before the scheduled maturity date. The issuer might choose to call the instrument if interest rates drop, such that redeeming the CD/bond and reissuing a new one would save on financing charges.
Callable loan
A callable loan is a debt instrument that gives the lender the right to demand full repayment prior to the scheduled maturity date.
Canada Education Savings Grant - CESG
A Canada Education Savings Grant (CESG), is a government grant that encourages Canadian citizens to save for their children's educational expenses. The grant amount is a percentage of the annual contributions made into a beneficiary's Registered Education Savings Plan (RESP).
Canada Premium Bond - CPB
A Canada Premium Bond (CPB) is a type of savings bond issued by the Canadian government. The CPB pays a higher rate of interest than a standard Canadian Savings Bond (CSB), but it has restrictions on when it can be cashed in. The CPB must be redeemed on or within 30 days of the anniversary of its issue date.
Canada Savings Bond - CSB
A Canada Savings Bond (CSB) is a savings bond instrument issued by the Canadian government. The holder of a CSB can cash it in at any time.
Canadian Investor Protection Fund - CIPF
The Canadian Investor Protection Fund (CIPF) is a not-for-profit entity that provides account protection to investors, in order to minimize losses if a securities dealer becomes insolvent.