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Glossary

 

M, N

Mark-to-market

Valuation of financial instruments using prevailing market prices or fair value as of the balance sheet date.

Master netting agreement

An agreement designed to reduce the credit risk of multiple derivative transactions through the creation of a legal right of offset of exposure in the event of a default.

Net interest income

The difference between what is earned on assets such as loans and securities and what is paid on liabilities such as deposits and subordinated debentures.

Net interest margin

Net interest income as a percentage of average assets.

Normal course issuer bid

A repurchase of our own shares, for cancellation through a stock exchange; it is subject to the various rules of the relevant exchange and securities commission.

Notional amount

The contract amount used as a reference point to calculate payments for derivatives.

 

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09/28/2007 08:45:07