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SOLVENCY: The condition of a business when liabilities (excluding any ownership equity) are less than assets. In other words, the business is doing fine and able to pay all of it's debts. This is most important when contrasted with the alternative, insolvency.
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for rusty deck screws.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"In a decisive set, confidence is the difference. " -- Chris Evert, tennis champion
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LAN
Locally Asymptotically Normal
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