What Is a Testamentary Trust? A testamentary trust is a trust that is established in accordance with the instructions contained in a last will and testament. A trust is a fiduciary relationship that allows a trustee, who is a third party, to manage assets on behalf of the beneficiaries of the trust. A person’s will
What Is Tether (USDT)? Tether (USDT) is a cryptocurrency stablecoin pegged to the U.S. dollar and backed “100% by Tether’s reserves,” according to its website. Tether is owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex. Tether was launched as RealCoin in July 2014 and was rebranded as Tether in
What Is Total Enterprise Value (TEV)? Total enterprise value (TEV) is a valuation measurement used to compare companies with varying levels of debt. It includes not only a company’s equity value but also the market value of its debt while subtracting out cash and cash equivalents. TEV is considered a more comprehensive alternative to market
What Is a Texas Ratio? The Texas ratio was developed to warn of credit problems at particular banks or banks in particular regions. The Texas ratio takes the amount of a bank’s non-performing assets and divides this number by the sum of the bank’s tangible common equity and its loan loss reserves. A ratio of
What Is the Texas Sharpshooter Fallacy The Texas Sharpshooter Fallacy is when outcomes are analyzed out of context, giving the illusion of causation rather than attributing the outcomes to chance. The Texas Sharpshooter Fallacy fails to take randomness into account when determining cause and effect, instead emphasizing how outcomes are similar rather than how they
What Is Tezos? Tezos is a blockchain network hosting the associated digital token Tez (XTZ), which is also known as tezzie. Like other cryptocurrency blockchains, Tezos facilitates user participation in decentralized finance (DeFi), decentralized applications and non-fungible token (NFT) projects. In contrast with other blockchains, Tezos precludes hard forks, or blockchain splits, with a blockchain-based
What Is the Temporary Liquidity Guarantee Program (TLGP)? The Temporary Liquidity Guarantee Program (TLGP) was a direct bailout of the banking sector instituted in 2008 by the Federal Deposit Insurance Corporation (FDIC) during the worldwide banking crisis. The TLGP was one of many government interventions that resulted from the determination by the U.S. Treasury and
What Is the Greatest Generation? The Greatest Generation is a term used to describe those Americans who grew up during the Great Depression and fought in World War II, or whose labor helped win it. The term “the Greatest Generation” is thought to have been coined by former NBC Nightly News anchor and author Tom
What Is the National Association of College and University Business Officers (NACUBO)? The National Association of College and University Business Officers (NACUBO) is a membership organization of universities and other institutions involved in American higher education. The organization represents more than 1,900 educational institutions in the United States. It does this through public outreach and
What Is Temasek Holdings? Temasek Holdings is a sovereign wealth fund (SWF)—a state-owned company—that manages an investment fund on behalf of the Government of Singapore. Using federal reserves, it focuses on investments located in Singapore, China, and North America, as well as Europe and some emerging economies. Temasek Holdings has a portfolio of approximately SGD
