What Is a Mastercard Acquirer? A Mastercard acquirer is a merchant bank or other financial institution that accepts and processes transactions made with a Mastercard. Mastercard partners with institutions all over the world to offer Mastercard-branded payment cards. Mastercard payment cards exclusively use its network for processing all transactions. Payment cards may be credit, debit
What is Master Certificate A Master Certificate is a document that formalizes a reinsurance agreement. These certificates provide details about the parties involved in the agreement, the risks covered, and the laws that the agreement is governed under. If the ceding insurer and reinsurer make amendments to the reinsurance agreement, they may restate the master
What Is a Master-Feeder Structure? A master-feeder structure is a device commonly used by hedge funds to pool taxable and tax-exempt capital raised from investors in the United States and overseas into a master fund. Separate investment vehicles, otherwise known as feeders, are established for each group of investors. Investors put capital into their respective
What Is a Master Fund? A master fund is a collective pool of assets used in a master-feeder investment structure, which offers the benefit of reduced operating costs and trading expenses. Master Fund Explained A master fund is an investment fund used for transacting securities when a master-feeder structure is utilized. A master-feeder structure builds on the
What Is a Master of Public Administration (MPA)? A master of public administration (MPA) is a master’s degree in public affairs that prepares recipients to serve in executive positions in municipal, state, and federal government and nongovernmental organizations (NGOs). The program’s focus centers on principles of public administration, policy development and management, and implementation of
What Is the Master-Servant Rule? The master-servant rule is a legal guideline stating that employers are responsible for the actions of their employees. It applies to any actions an employee undertakes while in the service of an employer that is within the scope of their duties for that employer. This concept may also go by
What Is a Matched Book? A matched book is an approach that banks and other institutions may take to ensure that the maturities of its assets and liabilities are equally distributed. A matched book is also known as “asset/liability management” or “cash matching.” There is a functional benefit to adopting the matched book method; it
What Is a Matching Contribution? A matching contribution is a type of contribution that an employer chooses to make to their employees’ employer-sponsored retirement plan. Put simply, a matching contribution is an amount of money that an employer chooses to make to participating employees’ retirement plans offered by the company. This amount is typically a
What are Matching Pennies? Matching Pennies is a basic game theory example that demonstrates how rational decision-makers seek to maximize their payoffs. Matching Pennies involves two players simultaneously placing a penny on the table, with the payoff depending on whether the pennies match. If both pennies are heads or tails, the first player wins and
What Are Match-Rate Funds? Match rate funds are loan funds which have their interest rates matched (or extremely close) to the interest rate on the source of the funds loaned out. This term is especially used in the European banking system to describe the relationship between the deposits a bank is currently holding and its
