Dr. Harvey's Financial Glossary

Thursday, March 18, 2010

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GI: The ISO 3166 country code for GIBRALTAR.
GIC: See: Guaranteed Investment Contract
Gift inter vivos: A piece of property or asset given from one living person to another.
Gift splitting: A technique used to avoid a gift tax in which a large sum of money to be given by two parents to a child is halved and given to the child separately For example, a husband and wife each donate $10,000 to their child rather than one parent donating $20,000.
Gift tax: A tax assessed on the giver of a property or asset as a gift. A $10,000 federal gift tax exemption exists per recipient. See Also: Gift splitting
Gilt-edged securities: British and Irish government securities. Blue Chip.
Gilts: British and Irish government securities. Blue Chip.
Ginnie Mae: See: Government National Mortgage Association
Ginnie Mae pass-through: A security guaranteed by the Government National Mortgage Association that is backed by a collection of mortgages, in which the investor receives the interest and principal payments of participating homeowners.
Give up: Used for listed equity securities. (1) Term used in a securities transaction involving three brokers, as follows: Broker A, a floor broker, executes a buy order for broker B (a member firm broker who has too much business at the time to execute the order). The broker with whom broker A completes the transaction (the sell-side broker) is broker C. Broker A "gives up" the name of broker B, so that the record shows a transaction between broker B and broker C even though the trade is actually executed between broker A and broker C; (2) distribution of commissions to brokerage houses not participating in a trade. This is a grey area of the law governing reimbursement of a broker for services (e.g., research). See: Directed brokerage.
GL: The ISO 3166 country code for GREENLAND.
Glamor stock: A popular stock characterized by high earnings growth rate and a price that rise is faster than the market average in a bull market.
Glass-Steagall Act: 1933 legislation prohibiting commercial banks to own, underwrite, or deal in corporate stock and corporate bonds.
Global bonds: Bonds designed to qualify for immediate trading in any domestic_market capital market and in the Euromarket.
Global Depository Receipt: A receipt denoting ownership of foreign-based corporation stock shares which are traded in numerous capital_market around the world.
Global fund: A mutual fund that can invest anywhere in the world, including the U.S.
Globalization: Tendency toward a worldwide investment environment, and the integration of national capital markets.
GM: The ISO 3166 country code for GAMBIA.
GMC: See: Guaranteed Mortgage Certificate
GN: The ISO 3166 country code for GUINEA.
GNMA Midget: A GNMA pass-through certificate backed by fixed-rate mortgages with a 15-year maturity. GNMA Midget is a dealer term and is not used by GNMA in the formal description of its programs.
GNMA-I: Mortgage-backed securities (M.B.S. ) on which registered holding_company receive separate principal and interest payments on each of their certificates, usually directly from the servicer of the M.B.S. pool. GNMA-I mortgage-backed securities are single-issuer pools.
GNMA-II: Mortgage-backed securities (M.B.S. ) on which registered holding_company receive an aggregate principal and interest_payments from a central paying agent on all their certificates. Principal and interest payments are disbursed on the 20^th day of the month. GNMA-II M.B.S. are backed by multiple-issuer pools or custom pools (one issuer but different interest_rate that may vary within one percentage point). Multiple-issuer pools are known as "jumbo_loan Jumbo pools are generally longer and offer certain mortgages that are more geographically diverse than single-issuer pools. Jumbo pool mortgage interest_rate may vary within one percentage point.
Gnomes: Freddie Mac's 15-year fixed-rate pass-through securities issued under its cash program.
GNP: See: Gross National Product

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