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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 ?
James Anderson and Stuart Broad celebrate after their new ball burst blew Australia's tail away yesterday morning PHILIP BROWN
We see teams coming into the league and some of them don't get to the second season because they start off like a house on fire and they tail away so they don't even make it at the end, but we see a definite levelling off.
Pushing the tail away from the intended turn direction and the nose toward it helps the turn, but there is a stronger force pushing the tail opposite the intended turn direction.
But the introduction of Dave Anderson to the attack had a dramatic effect on the game - he took out the entire top order in a brilliant spell of 5-26 and then Lee Murray blew the tail away with 3-3 to hand Leadgate a 30-run win.