TAX HAVEN: An offshore financial centre having legal mechanisms to reduce or eliminate taxes on income, wealth, profits and inheritance or to accumulate tax free income offshore pending repatriation to a taxable jurisdiction.
Teller: Teller is a staff member of a bank who accepts deposits, cashes cheques and performs other banking services for the public.
Technical Analysis: A method of evaluating securities by relying on the assumption that market data, such as charts of price, volume, and open interest, can help predict future (usually short-term) market trends. Contrasted with fundamental analysis which involves the study of financial accounts and other information about the company. (It is an attempt to predict movements in security prices from their trading volume history.)
TIGHT MONEY POLICY: Refers to the monetary policy of restraining or reducing the money supply and of raising interest rates. This policy may have the effect of slowing the GDP growth, reducing the rate of inflation or raising the nation's foreign exchange rates.
TREASURY BILLS: These bills are the main instrument of short-term borrowing by the government and serve as convenient gilt edged security for the money market. The Reserve Bank, as an agent of the government, sells treasury bills at a "discount". The difference between the amount paid by the tenderer at the time of purchase (less than face value) and the amount received on maturity represent the amount of interest and known as discount. These are negotiable securities and can be rediscounted with the Reserve Bank at any time before maturity upon terms and conditions prescribed by the bank. Presently treasury bills of 91days and 364 days of maturity are sold through weekly auctions.
Trading Rules: Stipulation of parameters for opening and intra-day quotations, permissible spreads according to the prices of securities available for trading and board lot sizes for each security.
Trust Deed: A formal document that creates a trust. It states the purpose and terms of the name of the trustees and beneficiaries.