1) An initial sum which the holder of an insurance policy must bear before any claim is met by the insurer. It is most often used in car insurance, e.g. the first £50 of any claim has to be borne by the insured party.

2) A bank or other financial institution's margin of assets over liabilities.

See also:

excess reserves.

3) In the USA, a situation in which a bank has greater reserves with the Federal Reserve than is required.

4)

See:

excess shares.

• deep-gain security
• deep market
• default
• defeasance
• defended takeover bid
• defensive security
• deferred annuity
• deferred coupon note
• deferred credit
• deferred debit
• deferred expense
• deferred income
• deferred ordinary share
• deferred-payment agreement
• deferred pricing
• deferred swap
• deferred taxation
• deficit financing
• defined-benefit pension scheme
• deflation
• degearing
• deleveraging
• deliverable
• delivery
• delivery date