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What Is Clinton Bond? A Clinton bond is a slang term for a debt investment that is said to have no principal, no interest and no maturity value. It is a derogatory reference to President Bill Clinton’s interest-rate policies that had bondholders lose billions of dollars early during his presidency.  Key Takeaways Clinton bond is a

What is a Cliquet? A cliquet, also called a “ratchet option,” is a series of at-the-money (ATM) options, either puts or calls, where each successive option becomes active when the previous one expires. Key Takeaways A cliquet, also called a “ratchet option,” is a series of at-the-money (ATM) options, either puts or calls, where each

What Is a Clone Fund? A clone fund is a mutual fund strategically designed to emulate the performance of a successful mutual fund. Clone funds are developed to model the performance of larger and more successful mutual funds. Key Takeaways A clone fund is a mutual fund strategically created to perform as a success of a

What Is Closed-End Credit? Closed-end credit is a loan or type of credit where the funds are dispersed in full when the loan closes and must be paid back, including interest and finance charges, by a specific date. The loan may require regular principal and interest payments, or it may require the full payment of

What is Closed To New Accounts? Closed to new accounts means an investment vehicle is no longer allowing new accounts to be added or opened. Key Takeaways Closed to new accounts means that a fund or investment vehicle is no longer taking on new accounts from investors. The fund may often continue to operate with existing

What Is a Closed Account? A closed account is any account that has been deactivated or otherwise terminated, either by the customer, custodian or counterparty. At this stage, no further credits and debits can be added. In accounting, a closed account—or closing entry—refers to the annual process of shifting data from temporary accounts on the income statement to permanent accounts on