What Is the Truth in Lending Act (TILA)? The Truth in Lending Act (TILA) is a federal law enacted in 1968 to help protect consumers in their dealings with lenders and creditors. The TILA has been implemented by the Federal Reserve Board through a series of regulations. Some of the most important aspects of the
What Is a Time-of-Day Order? The term time-of-day order refers to a type of trade that allows an investor to request a specific time of day to have an order filled. Time-of-day orders can be executed for either buy or sell requests for stocks or other types of financial instruments. Timing is very important when
What Are Time and Sales? Time and sales, or T&S, show volume, price, direction, date, and time data for each trade that is executed on an exchange. Time and sales information is often provided as a real-time data feed of trade orders for a security. Key Takeaways Time and sales log the time-stamped transaction details
What Is Time Arbitrage? Time arbitrage refers to an opportunity created when a stock misses its mark and is sold based on a short-term outlook with little change in the long-term prospects of the company. This dip in stock price occurs when a company fails to meet earnings estimates by analysts or its guidance, resulting
What Is Time Banking? Time banking is a system of bartering various services for one another using labor-time as a unit of account which was developed by various socialist thinkers based on the labor theory of value. Labor-time units can be credited to a person’s account in the time bank and redeemed for services from
What Is Time-Barred Debt? Time-barred debt is money a consumer borrowed and didn’t repay but which is no longer legally collectable because a certain number of years have passed. Time-barred debt is also known as debt that is beyond the statute of limitations. Key Takeaways Time-barred debt is typically debt that has past the statute
What Is a Time Deposit? A time deposit is an interest-bearing bank account that has a pre-set date of maturity. A certificate of deposit (CD) is the best-known example. The money must remain in the account for the fixed term in order to earn the stated interest rate. Time deposits generally pay a slightly higher
What Is a Time Draft? A time draft is a form of payment that is guaranteed by an issuing bank but is not payable in full until a specified amount of time after it is received and accepted. Many international trade transactions use drafts as a way to indicate the terms of payment for shipped
What Is Timeliness? Timeliness is a stock analysis rating system that ranks stocks according to their predicted price performance. It is a proprietary measure from the financial analysis and publishing firm Value Line (VALU) that ranks stocks based on their anticipated performance over the following six to twelve months. Timeliness assigns a rank of 1
What Is the Time-Preference Theory of Interest? The time preference theory of interest, also known as the agio theory of interest or the Austrian theory of interest, explains interest rates in terms of people’s preference to spend in the present over the future. This theory was developed by economist Irving Fisher in “The Theory of
