Sentences with phrase «auction rate»
The phrase "auction rate" refers to a type of market where various investments, like bonds or securities, are bought and sold through an auction process. People interested in buying these investments place bids, and the auction determines the price at which they are bought or sold. Full definition
Short and long - term investments consist primarily of auction rate securities in asset backed securities and corporate notes.
sec.gov
In consideration of the settlements, securities regulators agreed to terminate their investigations into the marketing and sale of auction rate securities to individual investors.
As an example, think of all of the people who lost money on auction rate preferred securities.
Part of the difficulty here is that auction rate structures are unstable.
These mostly AAA - rated auction rate securities, which met our investment guidelines at the time the investments were made, have failed to settle in auctions during fiscal 2007.
It may invest in specific types of municipal obligations, including tax - exempt zero - coupon securities, auction rate securities and floating - and variable - rate bonds.
Credit Suisse Securities: State Securities Regulators Announce Settlement with Credit Suisse Securities in Auction Rate Securities Investigation, September 16, 2008
Now, many of the same difficulties apply to auction rate bonds (another article from Accrued Interest), no matter who the obligor (entity that must pay on the bond) is.
As of October 31, 2008 the Company held auction rate securities with a par value of $ 18.8 million, which are included in short and long - term investments.
The convertible auction rate preferred stock has its dividends rates reset by Dutch auction and usually...
reimburse all refinancing fees to any state municipal issuers who issued auction rate securities in the initial primary market between August 1, 2007 and February 11, 2008, who refinanced those securities after February 11, 2008; and
The various risks described below are associated with buying, selling and owning Auction Rate Securities.
We believe that the $ 0.2 million decline in value that we have experienced in the remaining auction rate securities as of October 31, 2008, is a temporary event and has been accounted for as an unrealized loss in accumulated other comprehensive loss.
Personally, I think the wave of auction failures will give way to refinancing long, and a new group of speculators buying auction rate securities at higher yields than the prior short - term equilibrium yield.
The decreases in other income, net for both the three and six months ended October 31, 2008 were primarily attributable to lower average cash balances, due in large part to the $ 41 million stock repurchase which was completed in the latter half of second quarter of fiscal 2008, as well as lower average returns on our invested cash due to the shift in our investment portfolio from auction rate securities to more liquid money funds.
See also the discussion in «Liquidity and Capital Resources» and Item 3 for additional information on auction rate securities.
But her last minute advocacy of having Citi pay off customers who bought toxic auction rate securities from the bank helped put her in a positive light.
The rate equals the sum of the most recent discount auction rates of the six - month Treasury Bill and 0.25 %.
According to the Bank's Acting Director in charge of Corporate Communications, Isaac Okorafor, while confirming the details of the sale to the dealers said the highest rate of N335 was the same as the last auction rate of March 8, 2017.
But most of the assets that were harmed were owned by corporations, who had investment professionals that chose auction rate preferred securities because they yielded significantly more than money market funds, but with seemingly little risk, and the system worked for around 20 years.
4) Many are crying over auction rate preferred securities.
We should also note that the TAF auction rate was very close to LIBOR.
The rate will be based on the average of the previous quarter's 91 - day Treasury Bill auction rate plus a margin of 8 %.
NASAA Submits a Written Statement Regarding Auction Rate Secruties to the House Financial Services Committee, September 18, 2008
State Securities Regulators Remind Auction Rate Securities Investors to Contact Firms About Buyback Offers, November 10, 2008
New York: Attorney General Cuomo Expands Investigation Into Auction Rate Securities Scandal, August 11, 2008
Missouri: Carnahan Announces $ 9 Billion Dollar Investor Buyout Of Wachovia Auction Rate Securities, August 15, 2008
Those securities with maturities of greater than one year, including auction rate securities that failed to settle and which based on their nature do not appear likely to settle in the near term, are classified as long - term investments.
Fewer auction rate securities to tax free money market funds.
In addition, in the future should we determine that the decline in value of the other auction rate securities is other than temporary, we would recognize a further impairment charge on our condensed consolidated statement of operations, which could be material.
However, when auction rate securities fail to settle at auction, which occurred in fiscal 2008, and conditions leading to their failure to auction create uncertainty as to whether they will settle in the near - term, we classify them as long - term consistent with the contractual term of the underlying security.
Corporate cash is intended for operations & future investment — it's not intended to be a source of speculation (as many companies & banks / brokers sued re auction rate securities losses have discovered).
At April 30, 2009, all of DITC's short - term and long - term investments were held in corporate notes and asset backed auction rate securities.
Wells Fargo Investments LLC: State Securities Regulators Announce $ 1.3 Billion Settlement with Wells Fargo Investors in Auction Rate Securities Investigations, November 18, 2009
Auction rate structures deliver low rates when things are calm, but can be toxic when short term liquidity dries up.
Missouri: Carnahan Meets With Wachovia to Find Solution for Auction Rate Securities Investors, August 11, 2008
As of November 30, 2008, we continued to hold auction rate securities with a par value of $ 17.4 million.
Reimburse all refinancing fees to municipal issuers who issued auction rate securities through Wachovia since August 1, 2007, and who refinanced those securities after the market failed.
Disclaimer: The various risks described below are associated with buying, selling and owning Auction Rate Securities.
As of October 31, 2008, we held five AA and two A rated auction rate securities, totaling $ 18.8 million of par value, which failed to settle at auctions.
In this case, auction rate preferreds internalized the mismatch, subject to auction failure, which never happens, right?
The widespread marketing of auction rate securities as cash equivalents, followed by the collapse of the ARS auction market in February 2008 left thousands of investors without access to their money.
Represented a sophisticated investor in FINRA arbitration against Morgan Keegan relating to an investment in Jefferson County Sewer Bond Auction Rate Securities, which resulted in a $ 1.95 M FINRA award.