What Is a Tenement? A tenement can refer to any multi-occupancy residential rental building. However, the term is associated most often with crowded, run-down buildings with low-quality living conditions. Tenement buildings date back to the growth of the industrial revolution in the 19th century and the sudden influx of people moving to cities. In modern times
What Is a Tenure Payment Plan? A tenure payment plan (or annuity plan) is a way to receive reverse mortgage proceeds in which the borrower gets equal monthly payments for as long as they live in the home. The tenure payment plan has an adjustable interest rate. Monthly payments are calculated under the assumption that
What Is The Tequila Effect? The Tequilla Effect (also known as “Tequilla Shock” or the “Tequilla Crisis”) is a slang term for financial or economic fallout resulting from the Mexican economy. The Mexican peso (MXN) has been the official currency of Mexico since the country gained its independence in 1821. The 1994 Mexican currency crisis was a
What Is the Term Auction Facility? The Term Auction Facility (TAF) was a monetary policy used by the Federal Reserve to increase liquidity in the U.S. credit markets. The TAF began following the financial crisis of 2007. It allowed the Federal Reserve to auction set amounts of collateral-backed short-term loans to depository institutions (savings banks, commercial banks
What Is a Term Bond? Term bonds are notes issued by companies to the public or investors with scheduled maturity dates. The term of the bond is the amount of time between bond issuance and bond maturity. On the maturity date of a term bond, the bond’s face value, the principal amount, must be repaid
What Is a Term Certain Annuity? A term certain annuity is an insurance product that guarantees a periodic payment of a predetermined amount for a fixed term. Once the term has elapsed, these products are spent, and there will be no future payments, even if the annuitant is still alive. Should the annuity buyer die
What Is a Term Deposit? A term deposit is a fixed-term investment that includes the deposit of money into an account at a financial institution. Term deposit investments usually carry short-term maturities ranging from one month to a few years and will have varying levels of required minimum deposits. The investor must understand when buying
What are Term Federal Funds? Term federal funds are balances purchased in Federal Reserve accounts for more than a single day. Term federal funds generally mature between two days and one year. Banks and related financial institutions may need to obtain these funds when their borrowing needs last for several days, or they cannot merely
What Is a Terminal Elevator? A terminal elevator is a location for the bulk physical transfer of agricultural commodities. In commodities trading, physical delivery of a futures contract’s underlying asset will be standardized by an exchange to be received at a particular location, often called a terminal. This is especially the case for grains and
What Is Terminally Ill? Terminally ill is a medical term that refers to a person who has a disease that cannot be cured and that will eventually lead to their death. Typically, a doctor will use a range of days, months, or years to forecast the life expectancy of someone who has a terminal illness.
