Green bonds
A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for environmental projects. These bonds are typically asset-linked and backed by the issuing entity’s balance sheet, so they usually […]
Minimum Requirement for own funds and Eligible Liabilities (MREL)
Minimum Requirement for own funds and Eligible Liabilities (MREL) is a term used in EU legislation for the loss absorbing capital (LAC) of certain financial institutions. MREL figure comprises the total […]
CoCos
CoCos are contingent convertible bonds issued typically by banks. They convert from debt to capital if a pre-determined event occurs and are a way of a bank shoring up its […]
Quantitative easing
Quantitative Easing, often abbreviated to QE, is a term used to describe the purchase of debt, usually government debt, by central banks (such as the Bank of England, the European […]
SAREB
SAREB is an acronym in Spanish for Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria. It is a holding bank (a bit like NAMA in Ireland), established in […]
Capital structure
Capital structure describes the make up of a company’s balance sheet – i.e. all the sources of finance a company is using including the equity.
Annual Report
The Annual Report is the Board’s main method of communication with a company’s shareholders. The layout and the contents of the report is determined by a variety of rules and […]
EPRA NAV
The EPRA NAV is a net asset value per share calculated in accordance with EPRA’s methodology i.e. net assets on the balance sheet excluding the effects of hedges, debt adjustments associated with the […]
Treasury shares
Shares bought back by a company and held on its balance sheet rather than being cancelled. Treasury shares are not included in calculations of net asset value and market capitalisation.
