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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 ?
Furthermore, the system offers high-pressure air blower with independent and changeable frequency conversion controls and with special design of flue and blast pipe, which guarantees the negative pressure in the tail stock. The special dust proof design reduces maintenance and six or four integrated modular designs can be assembled with out tools, thereby reducing down time.
Snug wing nuts on wrist of the stock and, using existing butt plate screws, secure stock into tail stock of jig, making sure the stock is level.
The Orbit's dual head and tail stock configuration and its ability to rotate the part for access by the robot are important features.
Secure the follower in a lathe, and install a center drill in the tail stock. Turning the machine slowly, drill a starter hole in the center of the follower no more than 1/8-inch deep.
A complete and expandable database includes tools, cutting medium, tail stock, blank materials, and cutting data.