An issue in the bond market that combines the benefits of a bank loan with the benefits of a bond. The borrower arranges a variable-rate bank loan on the understanding that if long-term interest rates fall to a specified level, the bank loan will be automatically refinanced by a placing of fixed-rate long-term bonds with a group of institutions. They are most commonly used on the international market.

• standby credit
• standby revolving credit
• standing order
• standstill agreement
• star
• starting rate of income tax
• start-up
• start-up costs
• state banks
• State Earnings-Related Pension Scheme
• statement of affairs
• Statement of Auditing Standards
• statement of changes in financial position
• statement of movements in shareholders' funds
• Statement of Recommended Practice
• statement of source and application of funds
• Statement of Standard Accounting Practice
• statement of total recognized gains and losses
• static gap
• static risk
• status enquiry
• statute-barred debt
• statutory accounts
• statutory audit
• statutory books