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The remaining reserves after a project financing has been repaid. Sometimes refers to the residual value.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Stress may also cause excessive panting or repetitive behaviour, such as tail chasing or pacing.
Close confinement in a kennel with inadequate exercise and mental stimulation caused abnormalities such as constant pacing and tail chasing.
Common OCDs include behaviors such as spinning, tail chasing, fly snapping, shadow chasing, air licking, flank sucking, pica, persistent barking, and "hallucinating." Despite the intriguing names for these behaviors, they are not fun for a dog or for his humans.