What Is Standard of Living? Standard of living refers to the quantity and quality of material goods and services available to a given population. Key Takeaways Standard of living is the material well being of the average person in a given population. It is typically measured using gross domestic product (GDP) per capita. Standard of
What Is a Standby Letter of Credit (SLOC)? A standby letter of credit (SLOC) is a legal document that guarantees a bank’s commitment of payment to a seller in the event that the buyer–or the bank’s client–defaults on the agreement. A standby letter of credit helps facilitate international trade between companies that don’t know each
What Is a Standby Note Issuance Facility (SNIF)? A standby note issuance facility (SNIF) is a type of credit facility, often offered by a bank, that will guarantee payment to the lender if the borrower defaults. In this way, a standby note issuance facility (SNIF) ultimately acts as a form of insurance for a lender. They are most often
What Is a Standing Mortgage? A standing mortgage is a type of interest-only loan, in contrast to a normal mortgage with amortizing principal. A standing mortgage has an interest-only period, where after principal payments kick in and then at the end of the mortgage’s term, the remaining principal is due as a balloon payment. Key Takeaways
What Is a Standstill Agreement? A standstill agreement is a contract that contains provisions that govern how a bidder of a company can purchase, dispose of, or vote stock of the target company. A standstill agreement can effectively stall or stop the process of a hostile takeover if the parties cannot negotiate a friendly deal. The agreement is particularly
What Is the Staple Thesis? The staple thesis is a theory of economic growth that emphasizes the role of traditional commodities, or staple products, and their impact on shaping a resource-rich economy. It argues that national economies are linked to the production and export of staple goods. Key Takeaways The staple thesis is a theory of economic growth that
What Is Stare Decisis? Stare decisis is a legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case. Stare decisis ensures that cases with similar scenarios and facts are approached in the same way. Simply put, it binds courts to follow legal precedents set by previous decisions. Stare decisis
What Is China’s State Administration of Foreign Exchange (SAFE)? The term China’s State Administration of Foreign Exchange (SAFE) refers to a national regulatory agency that oversees activities in China’s foreign exchange market. The agency was founded in 1979 and is based in Beijing. SAFE functions as an official state-run bureau under the People’s Republic of
What Is a State Bank? A state bank is a financial institution that a state has chartered primarily to provide commercial banking services. A state bank is not the same as a central or reserve bank; these institutions are primarily concerned with influencing a government’s monetary policy. Key Takeaways State banks are financial institutions chartered
What Is the State Employees’ Credit Union (SECU)? The term State Employees’ Credit Union (SECU) refers to a nonprofit financial institution that is owned by employees of the state of North Carolina. The SECU was founded in 1937 and is now one of the largest credit unions in the United States by asset size and
