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U.S. Treasury securities
Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. There are three types of marketable Treasury securities-bills, notes and bonds.
UA
The ISO 3166 country code for UKRAINE.
UAH
The ISO 4217 currency code for the Ukraine Hryvnia.
UBTI
See Also: Unrelated Business Tax Income
UCC
See Also: Uniform Commercial Code
UG
The ISO 3166 country code for UGANDA.
UGMA
See Also: Uniform Gifts to Minors Act
UGX
The ISO 4217 currency code for the Uganda Shilling.
Ultra vires activities
Corporate actions and operations that are not sanctioned by corporate charter, sometimes leading to shareholder lawsuits.
Ultradot
Applies to derivative products. Firm proprietary software that stores, and sends baskets of stock through SEAQ to either the NYSE or the curb for program trading.
Ultra-short-term bond fund
A mutual fund that invests in bonds with very short maturity periods, usually one year or less.
UM
The ISO 3166 country code for UNITED STATES MINOR OUTLYING ISLANDS.
Umbrella personal liability policy
A liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits.
Umbrella policy
Insurance for exports of an exporter whose issuer handles all administrative requirements.
Unamortized bond discount
Par value of a bond less the proceeds received from the sale of the bond, less whatever portion has been amortized.
Unamortized premiums on investments
The unexpensed portion of the difference between the price paid for a security and its par value.
Unbiased expectations hypothesis
Theory that forward exchange rates are unbiased predictors of future spot rates. See Forward parity.
Unbiased predictor
A theory that spot prices at some future date will be equal to today's forward rates.
Unbundling
Separation of a multinational firm's transfers of funds into discrete flows for specific purposes. See: Bundling.
Uncollected funds
The amount of bank deposits in the form of checks that have not yet been paid by the banks on which the checks are drawn.
Uncollectible account
An account which cannot be collected by a company because the customer is not able to pay or is unwilling to pay.
Unconfirmed Letter of Credit
A letter of credit which has not been guaranteed or confirmed by any bank other than the bank that opened it. The advising bank merely informs the beneficiary of the letter of credit terms and conditions.
Uncovered call
A short call option position in which the writer does not own shares of underlying stock represented by the option contracts. Uncovered calls are much riskier for the writer than a covered call, where the writer of the uncovered call owns the underlying stock. If the buyer of a call exercises the option to call, the writer would be forced to buy the asset at the current market price. Also called a "naked" asset.
Uncovered call writing
A short call option position in which the writer does not own an equivalent position in the underlying security represented by his option contracts.
Uncovered options
See Also: Naked option strategies
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