Personal Finance terms starting with J

6 terms

1. January Effect Each year, the stock market tends to increase slightly in value between December 31 and the end of the first week of January.
2. Joint Account An account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract.
3. Jumbo A loan that exceeds the statutory size limit eligible for purchase or securitization by either FNMA or FHLMC.
4. Jumbo CD Jumbo CDs are large-denomination certificates of deposit with balances of at least $100,000, and sometimes $1 million or more.
5. Junior security In the world of bonds, the term junior means having less claim to repayment. If you own a junior security and the issuing company goes out of business…
6. Junk bond Junk bonds carry a higher-than-average risk of default, which means that the bond issuer may not be able to meet interest payments or repay the loan when…