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sukuk el-tamwil n. Egyptian civil law limits the interest on a conventional bond to 7 per cent. This would hardly attract investors, with inflation running at over 30 per cent. However, Law 146 allows for the issue of sukuk el-tamwil, instruments similar to bonds, on which there is theoretically no restriction as regards the return offered. [ArabicMoney & Finance] [full cite] (Feb. 22, 2006)
supernote n. The first Supernote became known as Parent Note (PN) 14342. The term “Supernote”—also occasionally seen as “Superdollar” or “Superbill”—originated outside of the Secret Service. It refers to all high-quality counterfeits that can be linked back to PN-14342 with forensic evidence. [EnglishMoney & Finance] [full cite] (Aug. 24, 2005)
susu n. A minimum of 20 people participate, and the cost is $100 a week. Every week the players pay their share until the susu organizer collects a stack of bills totaling $2,000. And every week, one player takes home all the cash. The rotation ends 20 weeks later after everybody has had a payday. Susu is the West Indian term for money pools. Mexicans refer to them as tandas. In Korean they are called kaes. [ LanguageEnglish SubjectMoney & Finance] [full cite] (Nov. 27, 2005)
swaption n. “Another thing the county can do which the typical homeowner cannot is change interest rates without repaying the debt and taking out a new loan. This is done through what is sometimes called a swap.” Lancaster County still has three swaps and three “swaptions,” which are options to do a swap, outstanding. [EnglishMoney & FinanceJargon] [full cite] (Oct. 31, 2007)
sweatbox n. What will happen when they do have to pay it back includes nonstop calls to them and their parents. Credit card collection agencies know how to harass, threaten and then sweet-talk cardholders who are late. They even have a term for people squeezed by debt: “sweatbox.” [EnglishMoney & FinanceSlang] [full cite] (Jun. 26, 2008)
sweeper n. Offset home mortgage loans were unveiled to the home owner in 1998, and have gained a great deal of respect from home owners since that time. Offset mortgage loans help to pay off a mortgage early by using what is known as a “sweeper” system. Providing that the home owner has their current and/or savings account with the mortgage loans provider, their available balance is “swept” across to their mortgage account each day to offset/reduce the amount of mortgage capital subjected to interest. [EnglishMoney & FinanceJargon] [full cite] (Sep. 22, 2006)
swimmer n. In Australia, Russian and Chinese swimmers were second and third in the medals table, at the time of writing—a marked improvement on last year. These countries are also producing more “swimmers” in capital markets, where it is a derogatory term for companies listing on foreign stock exchanges in pursuit of the best valuation, the lowest regulatory hurdles, or pools of liquidity that are unavailable in their home markets. [EnglishMoney & Finance] [full cite] (Apr. 2, 2007)
table-pounding buy n. Like Mr. Fosback, the firm’s analysts found that the stock market typically hit bottom six months after a recession began, and that at such times the stock market was a “table-pounding buy.” [EnglishMoney & Finance] [full cite] (May. 19, 2008)