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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 ?
In the first case, the respondent knew that the tail docking he had carried out was illegal.
Effects of tail docking on fattening performance and carcass characteristics of Akkaraman lambs.
TAIL docking began hundreds of years ago when it was mistakenly thought to increase a dog's speed, prevent damage in dog fights, back injury, and guard against rabies.
Richardson is urging MPs to "do the right thing and use your free vote to ban all tail docking of dogs unless a vet deems it necessary as a last resort, after a severe injury or disease".
At the conclusion of the four-day hearing, Dr Adetunji Ayinla Jolaosho, formerly principal veterinary surgeon at City Vet Clinic in Syston, near Leicester, was found unfit to practise following two convictions for tail docking plus 17 driving and related offences, which also brought the profession into disrepute.
Recent research does suggest that short tail docking is a significant causal effect but by no means the only one.
Barstable was not aware it was an offence to permit dogs to have their tails docked for non-medical or working reasons, the magistrates were told, or that tail docking should only be carried out by a vet.
Under the Act officers will also be better able to tackle the mutilation of animals, including the tail docking of dogs.
Her appointment was also welcomed by country sports group BASC, whose Wales director Glynn Cook said: "She has a good understanding of the issues surrounding shooting and conservation, and was supportive of the exemption for working dogs in the tail docking debate.
It does all make the penalty for tail docking in Scotland seem just a bit harsh.
The vote will soon be taken by MPs on whether to ban the tail docking of dogs as part of the Animal Welfare Bill.
Grand National legend Ginger McCain is enjoying his best ever season and can add to his tally in his final year training with So Cloudy in the Keep Tail Docking For Working Dogs Selling Handicap Hurdle.