What Is the Earnings Credit Rate (ECR)? The earnings credit rate (ECR) is a daily calculation of interest that a bank pays on customer deposits. The earnings credit rate is often correlated with the U.S. Treasury bill (T-bill) rate. ECRs are rates that banks impute to offset service charges. Because depositors leave balances in non-interest bearing accounts
What Is an Edge Act Corporation? An Edge Act corporation (EAC) is a subsidiary of a U.S. or foreign bank that engages in foreign banking operations; these subsidiaries are named after the 1919 Edge Act, which authorized them. The Edge Act, named after the U.S. senator who sponsored it, was an amendment to the Federal Reserve Act of
What Is the EDGX? EDGX Exchange is a U.S. equities exchange operated by CBOE U.S. Equities. Key Takeaways EDGX Exchange is a U.S. equities exchange operated by CBOE U.S. Equities.CBOE Global Markets acquired Bats Global Markets and now operates the BZX Exchange and BYX Exchange along with EDGX and EDGA.EDGX and CBOE members are registered
Who Is Edmund S. Phelps? Edmund S. Phelps is a New Keynesian economist, economics professor, Director of the Center on Capitalism and Society at Columbia University, and winner of the 2006 Nobel Prize in Economic Sciences for his macroeconomic research. Key Takeaways Edmund Phelps is an American New Keynesian economist and professor at Columbia University.Phelps
What Is EdTech? EdTech (a combination of “education” and “technology”) refers to hardware and software designed to enhance teacher-led learning in classrooms and improve students’ education outcomes. EdTech is still in the early stages of its development, but it shows promise as a method of customizing a curriculum for a student’s ability level by introducing
What Is an Education Tax Credit? Education tax credits are available for taxpayers who pay qualified higher education expenses for an eligible student to an eligible educational institution, such as a college or university. The two types of education tax credits are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). Key
What Is an Education IRA? An education IRA is a tax-advantaged investment account for higher education, now more formally known as a Coverdell Education Savings Account (ESA). Under this educational savings vehicle, parents and guardians are allowed to make nondeductible contributions to an education individual retirement account (IRA) for a child under the age of
What Is an Education Loan? An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. Payments are often deferred while students
What Is the Educator Expense Deduction? The educator expense deduction is an adjusted gross income (AGI) deduction for teachers and other education professionals for up to $250 of out-of-pocket expenses. This deduction allows eligible educators to deduct unreimbursed expenses related to education. Qualified expenses include books and supplies used in the classroom and any technology
What Is Effective Date? In contract law, the effective date is the date that an agreement or transaction between or among signatories becomes binding. For an initial public offering (IPO), it is the date when shares can first be traded on an exchange. Both parties to a contract usually need to agree on an effective
