eTrade 2010 Annual Report Download - page 90
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Enterprise net interest margin—The enterprise net operating interest income divided by total enterprise
interest-earning assets.
Enterprise net interest spread—The taxable equivalent rate earned on average enterprise interest-earning
assets less the rate paid on average enterprise interest-bearing liabilities, excluding corporate interest-earning
assets and liabilities and customer cash held by third parties.
Equity Drawdown Program—In the second and third quarters of 2009, the Company raised $65 million in
gross proceeds ($63 million in net proceeds) from an equity drawdown program in which a total of 4 million (as
adjusted for the reverse stock split) shares of common stock were issued.
Exchange-traded funds—A fund that invests in a group of securities and trades like an individual stock on
an exchange.
Fair value—The price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date.
Fair value hedge—A derivative instrument designated in a hedging relationship that mitigates exposure to
changes in the fair value of a recognized asset or liability or a firm commitment.
Fannie Mae—Federal National Mortgage Association.
FASB—Financial Accounting Standards Board.
FDIC—Federal Deposit Insurance Corporation.
FHLB—Federal Home Loan Bank.
FICO—Fair Isaac Credit Organization.
FINRA—Financial Industry Regulatory Authority.
Fixed Charge Coverage Ratio—Net income (loss) before taxes, depreciation and amortization and corporate
interest expense divided by corporate interest expense. This ratio indicates the Company’s ability to satisfy fixed
financing expenses.
Freddie Mac—Federal Home Loan Mortgage Corporation.
FSA—United Kingdom Financial Services Authority.
Generally Accepted Accounting Principles (“GAAP”)—Accounting principles generally accepted in the
United States of America.
GHOS—Group of Governors and Heads of Supervision.
Ginnie Mae—Government National Mortgage Association.
Interest rate cap—An options contract that puts an upper limit on a floating exchange rate. The writer of the
cap has to pay the holder of the cap the difference between the floating rate and the upper limit when that upper
limit is breached. There is usually a premium paid by the buyer of such a contract.
Interest rate floor—An options contract that puts a lower limit on a floating exchange rate. The writer of
the floor has to pay the holder of the floor the difference between the floating rate and the lower limit when that
lower limit is breached. There is usually a premium paid by the buyer of such a contract.
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