Sukuk

Sukuk (plural of sakk) are Islamic financial certificates that serve a similar economic purpose to conventional bonds but are structured to comply with Sharia…

Substitution Effect

Introduction The substitution effect describes how consumers switch from a relatively more expensive good to a relatively cheaper alternative when prices change, holding real…

Substitute

A substitute is any product or service that a consumer can use in place of another to satisfy the same need. Substitutes range from…

Subsidiary Company

A subsidiary is a business entity that is owned and controlled, in whole or in part, by another company (the parent or holding company).…

Subscription Agreement

Key takeaways – A subscription agreement (SA) is a binding contract by which an investor (the subscriber) agrees to buy securities and the issuer…

Subprime Loan

A subprime loan is credit extended to a borrower who does not qualify for “prime” lending terms because of one or more risk factors…

Subordination Agreement

A subordination agreement is a legal document in which one creditor agrees that its claim against a borrower or borrower’s collateral will rank behind…

Subordinated Debt

Subordinated debt (also called a subordinated debenture or junior debt) is a loan or bond that ranks below other debts in claim priority on…

Subjective Probability

Subjective probability is an individual’s estimate of how likely an event is to occur based on personal judgment, experience, intuition or belief rather than…

Structured Note

A structured note is a debt security issued by a financial institution that combines a bond-like component (the lender/credit relationship) with one or more…