Certificate of Deposit (CD)

A negotiable instrument issued by a bank evidencing time deposit


A written order on a bank instrument for payment of a certain amount of money.

Clean-up merger

Also called Take-out merger. The consolidation of the acquired firm into the acquiring firm after the acquirer has obtained control.


Property (real, personal or otherwise) pledged as security for a loan. Also, any supplementary promise of payment, such as a guarantee.


A secret agreement between two or more persons to defraud another person of his or her right in order to achieve an unlawful objective.

Commercial Credit Risk

The risk of loss from providing credit to corporate counter-parties. Extension of credit can take the form of direct loans and contingencies/guarantees.

Commercial Paper (CP)

Issue of short-term notes, without any underwriting, representing a promise to repay the amount at a specified future date.

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