What Is an International Bank Account Number (IBAN)? An IBAN, or international bank account number, is a standard international numbering system developed to identify an overseas bank account. The number starts with a two-digit country code, then two numbers, followed by several more alphanumeric characters. Note that an IBAN does not replace a bank’s own
What Is the Institutional Brokers’ Estimate System (IBES)? The Institutional Brokers’ Estimate System (IBES) is a database used by brokers and active investors to access the estimates made by stock analysts regarding the future earnings of publicly traded American companies. IBES is often written as “I/B/E/S.” Key Takeaways The Institutional Brokers’ Estimate System, or IBES, is
What Is an International Banking Facility (IBF)? An International Banking Facility allows depository institutions in the U.S. to offer deposit, loan, and other banking services to foreign residents and institutions while being exempted from the Federal Reserve’s reserve requirements as well as some state and local income taxes. Key Takeaways International banking facilities (IBFs) allow depository institutions
What Is the Icahn Lift? The Icahn lift is the name given to the rise in the price of a stock that occurs when professional investor Carl Icahn begins to purchase shares in the underlying company. The Icahn lift occurs because of Mr. Icahn’s reputation for creating value for the shareholders of the companies in which
What Is the Housing Choice Voucher Program? The Housing Choice Voucher Program assists low-income families, or those with disabilities, in finding safe and affordable housing in the private market. Local Public Housing Agencies (PHAs) issue housing choice vouchers to qualified families. The program is funded by the Federal Department of Urban Development (HUD). This is
What Is the NAHB/Wells Fargo Housing Market Index (HMI)? The NAHB/Wells Fargo Housing Market Index (HMI) is a monthly sentiment survey of members of the National Association of Home Builders (NAHB). The index measures sentiment among builders of U.S. single-family homes, and is a widely watched gauge of the U.S. housing sector. Since housing represents
What Are Housing Starts? The term housing starts refers to the start of construction on a new residential housing unit. Because new housing is a big-ticket capital good that spurs additional consumer spending on appliances and furniture, it is a key economic indicator closely watched by financial markets participants. The U.S. Census Bureau publishes estimates
What Is a Housing Unit? A housing unit is a single unit within a larger structure that can be used by an individual or household to eat, sleep, and live. The unit can be in any type of residence, such as a house, apartment, or mobile home, and may also be a single unit in
What Is the Hodrick-Prescott (HP) Filter? The Hodrick-Prescott (HP) filter refers to a data-smoothing technique. The HP filter is commonly applied during analysis to remove short-term fluctuations associated with the business cycle. Removal of these short-term fluctuations reveals long-term trends. This can help with economic or other forecasting associated with the business cycle. Key Takeaways The Hodrick-Prescott
What Is a Health Reimbursement Arrangement (HRA)? A health reimbursement arrangement (HRA) is an employer-funded plan that reimburses employees for qualified medical expenses and, in some cases, insurance premiums. Employers are allowed to claim a tax deduction for the reimbursements they make through these plans, and reimbursement dollars received by employees are generally tax-free. Key
