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Junior Debt Definition.

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Junior debt is a type of financing that is subordinate to senior debt. In the event of a default, senior debt holders will be first in line to receive payment, followed by junior debt holders. Junior debt is often used to finance the purchase of commercial real estate, and can take the form of a … Read more

Currency Board.

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A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This foreign currency is known as the anchor currency. A currency board only issues domestic currency in exchange for the anchor currency, at a fixed rate. It cannot print more money to bail out commercial … Read more