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Federal Housing Administration is responsible for the various mortgage insurance programs for the U.S. Department of Housing and Urban Development.

Federal Home Loan Mortgage Corporation, or Freddie Mac, is a government sponsored enterprise or GSE. FHLMC is a public, shareholder owned company trading on the New York Stock Exchange. FHLMC provides low-cost funds to mortgage lenders, which in turn lend to home buyers throughout the United States. FHLMC supports the…

See FNMA

The redemption value of a bond. Also known as par value.

The final maturity of an option contract.

The risk that on closing a position, the current exchange rate will be different then the original contract rate.

Also called foreign exchange rate. The price of one unit of one currency stated in terms of units of another currency.

Also known as strike price. The amount that must be paid (or the price that will be received) by an option owner to buy (or sell) the underlying asset from the option writer.

An option that can only be exercised during a limited exercise period at the very end of the option’s life.

Dollar-denominated bonds and bond-like instruments sold outside the United States

A debt instrument issued in the Euromarkets (excluding money market instruments).

Any Euro market for longer-term debt instruments (specifically excludes the money markets). Examples include Euro sterling and Euro yen.