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BROKER-DEALER: Broker-dealer is used in securities regulation parlance to describe stock and securities <br />brokerages, because most act as both agents and principals. A brokerage acts as a broker (or agent) when <br />it executes orders on behalf of clients andacts as a dealer, or principal, when it trades for its own account. <br />A broker-dealer is a natural person, company or other organization that engages in the business of trading <br />securities for its own account or on behalf of its customers. \[Referenced pages: 3, 7, 8, 23\] <br />CALIFORNIA MUNICIPAL TREASURERS ASSOCIATION (CMTA):Is the professional society of active <br />public treasurers of California counties, cities and special districts. It sets ethical standards for the treasury <br />profession in state and local governments in California. The Association provides educational seminars and <br />conferences, publications, policy and legislative information, and technical assistance to members. <br />\[Referenced pages: 6, 21\] <br />CERTIFICATE OF DEPOSIT/ NEGOTIABLE CERTIFICATE OF DEPOSIT (CD):A time deposit with a <br />specific maturity evidenced by a certificate. Time certificates of deposit are collateralized in accordance with <br />the State code. Large-denomination CD's are typically negotiable and non-collateralized. These <br />instruments are issued by depository institutions such as commercial banks, savings institutions and credit <br />unions against funds invested for a specified time period (typically between 0 to 5 years). The term “CD” by <br />itself generally refers to negotiable certificates of deposit that can be resold to otherparties. CDs, however, <br />also may be nonnegotiable. Nonnegotiable CDs cannot be actively traded on the secondary markets and <br />generally are held to maturity by the party that purchased them. Yields on CDs vary depending on liquidity, <br />credit quality; and, for nonnegotiable CDs, whether they are collateralized. \[Referenced pages: 11, 16, 17, <br />30\] <br />COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure <br />repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. <br />\[Referenced pages: 10, 14, 16,30, 31, 33\] <br />COLLATERLIZED MORTGAGE OBLIGATION (CMO): Mortgage backed bond that separates mortgage <br />pools into different maturity classes called traunches. CMO’s are issued by Federal National Mortgage <br />Corp. and Federal National Mortgage Association and are usually backed with a government guarantee and <br />have an AAA bond rating. Planned Amortization Class CMOs (PAC) have stable prepayment schedules <br />that do not react unfavorably in wide market swings. (Referenced page: 33\] <br />COMMERCIAL PAPER (CP): An unsecuredobligationissued by a corporationor bankto financeits short- <br />termcreditneeds, such as accounts receivableand inventory.Maturitiestypically rangefrom 2 to 270 days. <br />\[Referenced pages: 10, 17, 28, 30\] <br />COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual report of the (entity). It <br />includes five combined statements for each individual fund and account group prepared in conformity with <br />GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related <br />legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. <br />\[Referenced page: 1\] <br />CONSTANT MATURITY TREASURY (CMT) RATE:CMT rate is an adjustment for equivalent maturity, <br />used by the Federal Reserve Board to compute an index based on the average yield of various Treasury <br />securities maturing at different periods. \[Referenced page: 5, 19\] <br />CORPORATE BOND: A debt security issued by corporation and sold to investors. The backing for the <br />bond is usually the payment ability of the company, which is typically money to be earned from future <br />operations. \[Referenced page: 6\] <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ B <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />