Glossary

Welcome to Fineco’s Glossary! It will help you better understand the financial terminology and master your financial skills.

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Wall Street

Wall Street is a street in the centre of New York City’s financial district, and many major stock exchanges and financial institutions are headquartered on or around it. It is often used as a metonym for the entire U.S. financial market, including the stock market, bond market, commodities market, derivatives market, and the forex market.

Activity on Wall Street and the surround district has been responsible for many booms and busts in the U.S. economy. Trading activity on the street began in the late 1700s and was formalised through an agreement in 1792 that eventually became the New York Stock Exchange.

Warranty

A warranty is a guarantee issued by the manufacturer of a product that specifies the terms and conditions for exchanging, refunding, or repairing the product if it is defective. Warranties are usually only valid for a certain period of time and for certain problems with the product, like malfunctioning parts or substandard workmanship. Common categories of products covered under warranties include cars, appliances, and homes.

World Bank

The World Bank is an independent agency within the United Nations system that provides loans and other types of assistance primarily to developing countries. Its mission is to reduce poverty, increase prosperity, and foster development. The bank has 189 member countries and was founded at the same time as the International Monetary Fund. It is headquartered in Washington D.C. and is part of the World Bank Group, which consists of five cooperating institutions.