What Is the Baltic Dry Index (BDI)? The Baltic Dry Index (BDI) is a shipping and trade index created by the London-based Baltic Exchange. It measures changes in the cost of transporting various raw materials, such as coal and steel. Members of the exchange directly contact shipping brokers to assess price levels for given shipping
What Was Bananacoin (BCO)? Bananacoin (BCO) was an Ethereum token offered for sale via an initial coin offering (ICO) in 2017. The project was led by a team of Russian entrepreneurs who wanted to raise funds to expand an environmentally friendly plantation in Vientiane province, Laos. The developers set out to use the capabilities of
What Is Bancor? Bancor is a blockchain protocol that allows users to convert different virtual currency tokens directly and instantly instead of exchanging them on cryptocurrency exchanges like Coinbase. BNT is the Bancor Network Token, which is the primary token used within the Bancor network. As of September 2021, BNT is the 98th most valuable
What Is the Bandwagon Effect? The bandwagon effect is a psychological phenomenon in which people do something primarily because other people are doing it, regardless of their own beliefs, which they may ignore or override. This tendency of people to align their beliefs and behaviors with those of a group is also called a herd
What Is Bandwidth? Bandwidth is the data transfer capacity of a network in bits per second (Bps). The term may also be used colloquially to indicate a person’s capacity for tasks or deep thoughts at a point in time. Key Takeaways Bandwidth is a measure of how much information a network can transfer.The volume of
What Is a Bank? A bank is a financial institution that is licensed to accept checking and savings deposits and make loans. Banks also provide related services such as individual retirement accounts (IRAs), certificates of deposit (CDs), currency exchange, and safe deposit boxes. There are several types of banks including retail banks, commercial or corporate
What Is the Bank Bill Swap Bid Rate (BBSY)? The Bank Bill Swap Bid Rate (BBSY) is an Australian benchmark interest rate quoted and dispersed by the data provider Thompson Reuters Information Service. The BBSY is typically used by financial institutions or corporations engaging in interest rate swaps and related transactions. Key Takeaways BBSY, or
What Is a Bank Confirmation Letter (BCL)? A bank confirmation letter (BCL) is a letter from a bank or financial institution confirming the existence of a loan or a line of credit that has been extended to a borrower. The letter officially vouches for the fact that the borrower—typically an individual, company, or organization—is eligible to
What Is the Bank Secrecy Act (BSA)? Also known as the Currency and Foreign Transactions Reporting Act, the Bank Secrecy Act (BSA) is U.S. legislation created in 1970 to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten gains. The law requires banks and other financial institutions to provide
What Is the Bank Bill Swap Rate (BBSW)? The Bank Bill Swap Rate (BBSW), or Bank Bill Swap Reference Rate, is a short-term interest rate used as a benchmark for the pricing of Australian dollar derivatives and securities—most notably, floating rate bonds. Key Takeaways The Bank Bill Swap Rate (BBSW) is a short-term interest rate used
