WORD OF THE DAY: OFF-THE-RUN - refers to a term used to describe all but the most recently issued treasury or agency securities in a particular maturity class. For instance, at any given time, there may be a number of U.S. Treasur ... More
1. ) pertains to the length of time until a loan is due. For example, a loan is taken out with a two year tenor. After one year passes, the tenor of the loan is one year.