Letter Of Comfort

A letter of comfort (also called a letter of intent, solvency opinion, or keepwell letter) is a written statement that provides assurance—usually informal or…

Lessor

• A lessor is the owner of an asset who grants another party (the lessee) the right to use that asset under a lease…

Lessee

Key takeaways – A lessee (tenant) is the person or entity that rents or leases property from a lessor (owner). – The lease is…

Leptokurtic

Key takeaways – A leptokurtic distribution has kurtosis greater than 3 (or positive excess kurtosis), meaning heavier tails and a higher probability of extreme…

Low Exercise Price Option Lepo

Key takeaways – A LEPO is a European-style call option with an exercise (strike) price of one cent (AU$0.01). Because the strike is effectively…

Lender Of Last Resort

• A lender of last resort (LoR) is usually a central bank that provides emergency liquidity to solvent—but illiquid—financial institutions to prevent runs and…

Lender

A lender is an individual, group, public agency, or financial institution that provides money to a borrower with the expectation it will be repaid,…

Bloomberg Aggregate Bond Index

• The Bloomberg U.S. Aggregate Bond Index (the “Bloomberg Agg” or simply “the Agg”) is the most widely used broad benchmark for the U.S.…

Legislative Risk

Legislative risk is the chance that changes in laws, regulations, taxes, tariffs, or government policy—and the way they are enforced—will materially change a company’s…

Legal Monopoly

A legal monopoly (also called a statutory monopoly) is a firm or public entity that is granted exclusive rights by a government to produce…