Glossary

BAC

Bank of America Corp

BofA

Bank of America

BofAe

BofA Global Research estimate

BofAS

BofA Securities

CEO

Chief Executive Officer

CFO

Chief Financial Officer

COO

Chief Operating Officer

GBAM

Global Banking and Markets

GWIM

Global Wealth and Investment Management

RIC

Research Investment Committee

VP

Vice President

AED

United Arab Emirates dirham

ARS

Argentine peso

AUD

Australian dollar

BRL

Brazilian real

CAD

Canadian dollar

CHF

Swiss franc

CLP

Chilean peso

CNY

Chinese yuan

COP

Colombian peso

CZK

Czech koruna

EGP

Egyptian pound

EUR

Euro

GBP

British pound

HKD

Hong Kong dollar

HUF

Hungarian forint

IDR

Indonesian rupiah

ILS

Israeli shekel

INR

Indian rupee

JPY

Japanese yen

KRW

South Korean won

KWD

Kuwaiti dinar

KZT

Kazakhstani tenge

MXN

Mexican peso

MYR

Malaysian ringgit

NGN

Nigerian naira

NOK

Norwegian krone

NZD

New Zealand dollar

PEN

Peruvian sol

PHP

Philippine peso

PLN

Polish zloty

QAR

Qatari rial

RON

Romanian leu

RUB

Russian rouble

SAR

Saudi ryal

SEK

Swedish krona

SGD

Singapore dollar

THB

Thai baht

TRY

Turkish lira

TWD

New Taiwan dollar

UAH

Ukrainian hryvnia

USD

US dollar

UYU

Uruguayan peso

VES

Venezuelan bolivar soberano

ZAR

South African rand

1H

First half of the year

1Q

First quarter of the year

2H

Second half of the year

2Q

Second quarter of the year

3Q

Third quarter of the year

4Q

Fourth quarter of the year

AH

After hours

AMC

After market close

Apr

April

Aug

August

Dec

December

DSO

Days sales outstanding

EDT

Eastern Daylight Time

EST

Eastern Standard Time

Feb

February

FY

Financial year

FYE

Financial year end

HKT

Hong Kong Time

Jan

January

Jul

July

Jun

June

LT

Long term

LTM

Last 12 months

M/M

Month over month

Mar

March

May

May

MOM

Month over month

M-O-M

Month over month

MT

Medium/mid-term

Nov

November

NT

Near term

NTM

Next 12 months

Oct

October

pcp

previous corresponding period

QOQ

Quarter over quarter

QTD

Quarter to date

qtr

Quarter

Sep

September

TTM

trailing 12 months

y/y

Year over year

YE

Year end

YOY

Year over year

YTD

Year to date

y-y

Year over year

A

Actual

ABA

Australian Banking Association

A-D Line

Advance-decline line

Adj

Adjusted

AFFO

Adjusted funds from operations

AGM

Annual general meeting

AML

Anti money laundering

AMLF

Asset-Backed Commercial Paper Money Market Fund

Amt

Amount

APR

Annual percentage rate

ARITA

Australian Restructuring, Insolvency & Turnaround Association

ARM

Adjustable-rate mortgage

ARPU

Average revenue per user

ARPPU

Average revenue per paying user

ARR

Annual Recurring Revenues

ASP

Average selling price

ATM

At the market

ATM

Automatic teller machine

AUC

Assets under custody

AUM

Assets under management

B

Bond

B/S

Balance sheet

BS

Balance sheet

CAGR

Compound annual growth rate

capex

Capital Expenditure

Cap rate

Capitalization rate

CDS

Credit default swap

CET1

Common equity Tier 1

CMD

Capital markets day

CMBS

Commercial mortgage-backed securities

COGS

Cost of goods sold

CPFF

Commercial Paper Funding Facility

CPI

Consumer Price Index

CRE

Commercial real estate

CS

Capital security

C&I

commercial & industrial

Dbt

Debt

DCF

Discounted cash flow

DDM

Dividend discount model

DPS

Dividend per share

DRP

Dividend reinvestment plan

E

Estimate

E&P

Exploration and Production

EBIT

Earnings before interest and taxes

EBITD

Earnings before interest, taxes and depreciation

EBITDA

Earnings before interest, taxes, depreciation and amortization

EBITDAaL

Earnings before interest, taxes and depreciation and amortization, after leases

EBITDAR

Earnings before interest, taxes, depreciation, amortisation and restructuring or rent costs

EBITDAX

Earnings before interest, taxes, depreciation/depletion, amortization and exploration expense

EFCF

Equity free cash flow

EFTPOS

Electronic funds transfer point of sale

EGM

Extraordinary general meeting

EP

Equity preferred

EPS

Earnings per share

EPSe

Earnings per share estimate

EV

Enterprise value

f'cast

Forecast

FCF

Free cash flow

FFO

Funds from operations

Fit

Fitch

Forex

Foreign exchange

FTE

Full time equivalent

FX

Foreign exchange

GAAP

Generally accepted accounting principles

GDP

Gross domestic product

GFC

Global financial crisis

GLA

Gross leaseable area

GM

Gross margin

GMV

Gross Merchandise Value

GNP

Gross national product

GPM

Gross profit margin

GSE

Government-sponsored enterprise

G-Spd

G spread

HEPS

Headline earnings per share

IPO

Initial public offering

iQmethodSM

iQ method

iQprofileTM

iQ profile

JV

joint-venture

L

Loan

LFL

Like for like

LMI

Lenders’ mortgage insurance

LPS

Loss per share

LTM

Last twelve months

LTV

Loan-to-value

LVR

Loan to value ratio

MAU

Monthly active user

M&A

Mergers and acquisitions

M/W

Marketweight

MACD

Moving average convergence-divergence

Mdy

Moody's

MMIFF

Money Market Investor Funding Facility

Mrkt Val

Market value

MW

Marketweight

NAV

Net asset value

Net dbt to Eqty

Net debt to equity

NEER

Nominal effective exchange rate

NI

Net income

NII

Net interest income

NIM

Net interest margin

NOI

Net operating income

NPAT

Net profit after tax

NPL

Non-performing loan 

NPM

Net profit margin

ODM

Original design manufacturer

OEM

Original equipment manufacturer

OIBDA

Operating income before depreciation and amortization

OP

Operating profit

opex

Operational Expenditure

OpFCF

Operating free cash flow

OPM

Operating profit margin

O/W

Overweight

OW

Overweight

p.a.

per annum

PEPP

Pandemic Emergency Purchase Programme

P/E

Price / earnings ratio

PCE

personal consumption Expenditures

PCP

Previous corresponding period

PDCF

Primary dealer credit facility

PEG

Price/earnings to growth ratio

PO

Price objective

QE

Quantitative Easing

QT

Quantitative Tightening

RCF

Revolving credit facility

R&D

Research and development

REER

Real effective exchange rate

REIT

Real estate investment trust

Rev

Revenue

Revs

Revenues

ROA

Return on assets

ROC

Rate of change

ROC

Rate on capital

ROCE

Return on capital employed

ROE

Return on equity

ROIC

Return on invested capital

ROI

Return on Investment

RoTE

Return on tangible equity

RSI

Relative Strength Index

RWA

Risk weighted assets

sa

Seasonally adjusted

saar

Seasonally adjusted annual rate

SFP

Supplemental financing program

SG&A

Sales, general and administrative

S&M

Sales and Marketing

SME

Small and medium enterprises

SOE

state-owned enterprise

SOTP

Sum-of-the-parts

SS NOI

Same-store net operating income

SSS

Same-store sales

SSSG

Same-store sales growth

STIP

Short-Term Investment Pool

STW

Spread to worst

TAC

Total Asset-to-Capital Ratio

TAC

Traffic Acquisition Cost

TAC

Target Amortization Class

TAF

Term Auction Facility

TARP

Troubled Asset Reduction Program

TAM

Total Addressable Market

TL

Term loan

TOP

Term Option Program

TRS

Taxable REIT subsidiary

TSLF

Term Securities Lending Facility

T-Spd

T Spread

U/P

Underperform

U/W

Underweight

UP

Underperform

UW

Underweight

VA

Visible Alpha

VAT

Value added tax

WACC

Weighted-average cost of capital

YTW

Yield to worst

AMRS

Americas

APAC

Asia Pacific

CIS

Commonwealth of Independent States

DM

Developed Markets

EM

Emerging markets

EMEA

Europe, Middle East and Africa

LatAm

Latin America

MENA

Middle East North Africa

ROW

Rest of world

IBR

Indicador Bancario de Referencia (the fixing rate for Colombian peso swaps)

SOFR

Secured Overnight Financing Rate (the fixing rate for US dollar swaps)

ESG

Environmental, social and governance

ETF

Exchange traded funds

HG

High grade

HY

High yield

IG

Investment grade

Mkt

Market

OM

Offering memorandum

Refi

Refinance

vs

versus

©

Copyright

®

Registered trademark

admin

Administration

AI

Artificial Intelligence

CFA

Chartered financial analyst

Co

Company

cons

Consensus

cont

Continued

Govt

Government

HF

Hedge fund

IOT

Internet of things

Mgmt

Management

NM

Not meaningful

OMO

Online-merge-offline

PIN

Personal identification number

Q&A

Questions and answers

SaaS

Software as a service

SM

Service mark

Sqm

Square mile

™

Trademark

bn

Billion

bp

Basis point

bps

Basis points

K

Thousand

mn

Million

tn

Trillion

x

Times (multiple)

APRA

Australian Prudential Regulation Authority

ASIC

Australian Securities & Investments Commission

ATO

Australian Taxation Office

BACEN

Central Bank of Brazil

BoC

Bank of Canada

BoE

Bank of England

BoJ

Bank of Japan

BoI

Bank of Israel

CBR

Central Bank of Russia

CFTC

Commodity Futures Trading Commission

DOE

US Department of Energy

DOJ

Department of Justice

ECB

European Central Bank

FAA

US Federal Aviation Administration

FDA

US Food and Drug Administration

FDIC

Federal Deposit Insurance Corporation

Fed

Federal Reserve System

FERC

US Federal Energy Regulatory Commission

FOMC

Federal Open Market Committee

FTC

Federal Trade Commission

GCC

Gulf Cooperation Council

GDPR

General Data Protection Regulation

HKMA

Hong Kong Monetary Authority

IMF

International Monetary Fund

MAS

Monetary Authority of Singapore

NASDAQ

National Association of Securities Dealers Automated Quotation System

NBH

National Bank of Hungary

NBU

National Bank of Ukraine

NYSE

New York Stock Exchange

OECD

Organisation for Economic Co-operation and Development

OPEC

Organization of Petroleum Exporting Countries

PBOC

People's Bank of China

PRA

Prudential Regulation Authority

RBA

Reserve Bank of Australia

RBI

Reserve Bank of India

RBNZ

Reserve Bank of New Zealand

SARB

South Africa Reserve Bank

SEC

Securities and Exchange Commission

UST

United States Treasury