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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 ?
Breeders and dog owners who favor cosmetic tail docking claim that the procedure is painless, owing to the fact that a puppy's nervous system is undeveloped and insensitive.
Ear cropping and tail docking are banned in Australia, Finland, Germany, Iceland, the Netherlands, Norway, Switzerland, Sweden, Scotland, and parts of Austria.
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".
Last week Lloyd Earlington, 35, and Julie Ward, 37, both of AlumRock and David Hunkins, 33, of Washwood Heath, were all jailed for three months after they caused the death of 11 puppies by carrying out a 'barbaric' tail docking operation.
Also, the site of a recent tail docking appeared infected.
The main rules of the Directive are: a minimum surface requirements for different categories of pigs; a prohibition of the construction or conversion of installations in which sows and gilts are tethered; castration of male pigs aged over four weeks may be carried out only under anaesthetic by a veterinarian or a qualified person; a prohibition of routine tail docking and tooth clipping; if tooth clipping appears necessary, it must be carried out within seven days of birth; piglets must not be weaned from the sow at less than three weeks of age.
For example, in many of these labeling schemes, 'free range' birds still spend their entire lives tightly packed together in sheds, physical mutilations like debeaking and tail docking are still allowed, and there are no requirements for outdoor access for some species.
Choosing to lift Labour's ban on tail docking of dogs was one of the first actions of this SNP Government after the election - helped, once again, by their Tory allies.
Each sow will also now have larger breeding facilities including free farrowing and no pigs will be subjected to tail docking or teeth clipping.