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The remaining reserves after a project financing has been repaid. Sometimes refers to the residual value.


1. In a bond auction, the difference between the lowest bid and the average bid in the auction.

2. In a quote, the cents rather than the whole dollar amount. For example, in the quote $32.59, tail is 59 cents. This term is most common in new issues of a security.

3. See: Residual Value.


1. In a bid for a new security issue, the portion of the bid price that follows the decimal. For example, a bid of $92.125 has a tail of .125.
2. The difference between the average bid and the lowest bid at an auction for Treasury securities.
References in periodicals archive ?
Malinga, who was winning the championship for a second year running after his success with Hetton Lyons last year, picked up 5-25 as he bowled unchanged, and Matthew Sampson-Barnes swept the tail away with 3-8 as Norton collapsed to 54 all out in just 20 overs.
Ian Holloway teams always appear to performaboveexpectation when he takes over and then their form has tendency to tail away.
Perfect heat sealing of the film tail away from the product, also ensures no loose tails of film trail from the load after wrapping, and makes a good presentation.