Secured Loans
Full faith-and-credit obligations
The security pledges for larger municipal bond issuers, such as states and large
cities which have diverse funding sources.
Full-payout lease
See: financial lease
Full price
Also called dirty price, the price of a bond including accrued interest. Related: flat
price.
Full-service lease
Also called rental lease. Lease in which the lessor promises to maintain and
insure the equipment leased.
Fully diluted earnings per shares
Earnings per share expressed as if all outstanding convertible securities and
warrants have been exercised.
Fully modified pass-throughs
Agency pass-throughs that guarantee the timely payment of both interest and
principal. Related: modified pass-throughs
Fully valued
Used in the context of general equities. Said of a stock that has reached a price
at which analysts think the underlying company's fundamental earnings power
has been fully recognized by the market.
Functional currency
As defined by FASB No. 52, an affiliates functional currency is the currency of
the primary economic environment in which the affiliate generates and expends
cash.
Fundamental analysis
Security analysis that seeks to detect misvalued securities through an analysis of
the firms business prospects. Research analysis often focuses on earnings,
dividend prospects, expectations for future interest rates, and risk evaluation of
