eTrade 2006 Annual Report Download - page 70
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Retail client assets—Market value of all client assets held by the Company including security holdings,
customer cash and deposits and vested unexercised options.
Revenue growth—The difference between the current and prior comparable period total net revenue divided
by the prior comparable period total net revenue.
Risk-weighted assets—Primarily computed by the assignment of specific risk-weightings assigned by the
OTS to assets and off-balance sheet instruments for capital adequacy calculations. This calculation is for the
Bank only.
Stock conduit—The borrowing of shares from a Broker-Dealer and subsequently lending the same shares to
another Broker-Dealer netting a fee.
Sweep deposit accounts—Accounts with the functionality to transfer brokerage cash balances to and from an
FDIC-insured money market account at the Bank.
Taxable equivalent interest adjustment—The operating interest income earned on certain assets is
completely or partially exempt from federal and/or state income tax. As such, these tax-exempt instruments
typically yield lower returns than a taxable investment. To provide more meaningful comparison of yields and
margins for all interest-earning assets, the interest income earned on tax exempt assets in increased to make it
fully equivalent to interest income on other taxable investments. This adjustment is done for the analytic
purposes in the net enterprise interest income/spread calculation and is not made on the consolidated statement of
income, as that is not permitted under GAAP.
Tier 1 Capital—Adjusted equity capital used in the calculation of capital adequacy ratios at the Bank as
required by the OTS. Tier 1 capital equals: total shareholder’s equity at the Bank, plus/(less) unrealized losses
(gains) on available-for-sale securities and cash flow hedges, less deferred tax assets, goodwill and certain other
intangible assets.
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