EFTA01459558.pdf

CIO View Special Glossary Here we explain central terms of the CIO View Special. Bakken is one of the most active oil fields in the United States. Downgrading refers to a negative change in the rating of a security, usually due to a material and fundamental change in the The Barclays US High Yield Oil Field Services index tracks the company's operations, future outlook or industry. performance of U.S. dollar denominated below investment grade corporate debt from oil field services companies publicly issued in EBITDA is an accounting measure calculated using a company's the US domestic market. net earnings, before interest expenses, taxes, depreciation and amortization are subtracted. A barrel (t?) is a unit of volume which is commonly used to measure crude oil and is defined as 42 U.S. gallons in the United States and An emerging market (E M isa country that has some Canada, which is about 159 litres. characteristics of a developed market in terms of market efficiency, liquidity and other factors, but does not meet standards to be a Barrels per day (bid) is a measure of oil output, represented by the developed market. number of barrels of oil produced in a single day. The European Central Bank (EC Br is the central bank for the Bifurcation literally means the point at which something splits in Eurozone. two (such as one segment of the market trading sharply lower, while the rest remains relatively stable). Face value is the nominal value of a security stated by the issuer. For stocks, it is the original cost of the stock shown on Capital expenditure (Capex) are funds used by a company to the certificate, for bonds, it is the amount paid to the holder at acquire or upgrade physical assets such as property, industrial maturity. buildings or equipment. Free cash low (FCF) isa measure of financial performance Chapter11 is a chapter of Title 11 of the United States Bankruptcy calculated as operating cash flow minus capital expenditures. Code, which permits reorganization under the bankruptcy laws of It shows how much cash a company is able to generate after the United States. deducting the money required to maintain or expand its asset base. Contagian is the spreading of market disturbances from one regional market or market segment to others. The gross-domestic-product (GDP1 is the monetary value of all the finished goods and services produced within a country's borders in Default is the failure to meet the legal obligations of a loan, for a specific time period. example when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the The Harmonized Index of Consumer Prices (HICF), a list of the failure or refusal of a government to repay its national debt final costs paid by European consumers for the items in a basket of common goods, is produced by each European Union member Deflation is a sustained decrease in the general price level of goods state to help measure inflation and to guide the European Central and services. Bank in formulating monetary policy. Depletion is the decline in oil production of a well or geographic Headline intlation is the raw inflation figure based on the consumer area. Over the medium term, oil-production declines occur price index (CPI) and not adiusted for seasonality or for the often in a predictable manner based on geological circumstances, volatile elements of food and energy prices. governmental policies, and engineering practices. High-yield is often used as a shorthand for high-yield bonds. A Developed Market (DM) is a country fully developed in terms of its economy and capital markets. High-yield (HY) bonds are high-paying bonds with a lower credit rating than investment-grade corporate bonds, Treasury bonds and A dividend isa distnbution of a portion of a company's earnings to municipal bonds. its shareholders. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 120045 CONFIDENTIAL SDNY_GM_00266229 EFTA01459558