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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 ?
Close confinement in a kennel with inadequate exercise and mental stimulation caused abnormalities such as constant pacing and tail chasing.
If the tail chasing proves not to be attention-seeking, you'll need a behaviourist.