# Glossary Search for a word - [A](#glossary-letter-A) - [B](#glossary-letter-B) - [C](#glossary-letter-C) - [D](#glossary-letter-D) - [E](#glossary-letter-E) - [F](#glossary-letter-F) - [G](#glossary-letter-G) - [H](#glossary-letter-H) - [I](#glossary-letter-I) - [J](#glossary-letter-J) - [K](#glossary-letter-K) - [L](#glossary-letter-L) - [M](#glossary-letter-M) - [N](#glossary-letter-N) - [O](#glossary-letter-O) - [P](#glossary-letter-P) - [Q](#glossary-letter-Q) - [R](#glossary-letter-R) - [S](#glossary-letter-S) - [T](#glossary-letter-T) - [U](#glossary-letter-U) - [V](#glossary-letter-V) - [W](#glossary-letter-W) - [X](#glossary-letter-X) - [Y](#glossary-letter-Y) - [Z](#glossary-letter-Z) - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z ## A - [A2A A2A means account-to-account: money that moves from one bank or wallet account to another without a card network. ACH, RTP, FedNow, SEPA, and Pix are A2A rails. A ledger still sits in the middle. The rail moves bank money. The book records who you owe. Read more](https://blnkfinance.com/glossary/a2a) - [ACH ACH is the US Automated Clearing House network. Nacha, the National Automated Clearing House Association, sets the rules and the file format banks exchange. Banks send batches of credits and debits through it. Most transfers take one to two business days. Same-day ACH is the same network with an earlier cutoff, and it can still return after it posts. Read more](https://blnkfinance.com/glossary/ach) - [ACH credit An ACH credit is a push: the originator sends funds into the receiver’s bank account. Payroll, vendor payouts, and refunds are credits. The originator’s bank files the batch. The receiver does not pull anything. Credits can still return, but the risk sits on the sender having the funds, not on a pull from the receiver. Read more](https://blnkfinance.com/glossary/ach-credit) - [ACH debit An ACH debit is a pull: the originator takes funds from the receiver’s bank account. Rent, subscriptions, and loan collections are debits. The receiver must have authorized the pull. Returns for NSF, revoked authorization, and wrong account numbers are common and can arrive days after you credited the wallet. Read more](https://blnkfinance.com/glossary/ach-debit) - [ACH prenote An ACH prenote is a zero-dollar entry you send to test an account before live credits or debits. The receiving bank can accept it or return it with a reason. A prenote does not move money. It reduces the chance the first real payment dies on a bad account number. Read more](https://blnkfinance.com/glossary/ach-prenote) - [ACH return An ACH return is the receiving bank sending an entry back to the originator. The original credit or debit is unwound. Nacha assigns a code such as R01 for insufficient funds or R10 for an unauthorized debit. The return is a new event. It does not delete the payment you already recorded. Read more](https://blnkfinance.com/glossary/ach-return) - [ACID ACID is four rules that keep a database write trustworthy: atomicity, consistency, isolation, and durability. In a ledger they mean a post either lands on both sides or on neither, the book stays balanced, two posts cannot corrupt the same balance, and a committed write survives a crash. A payment API that returns 200 is not the same thing as an ACID apply. Read more](https://blnkfinance.com/glossary/acid) - [AML AML is anti-money laundering: the program that watches how money moves after you onboard someone. KYC asks who they are. AML asks whether the activity looks like crime. A ledger does not decide that. It gives you the history an AML system reads: amounts, counterparties, velocity, and who owns the wallet. Read more](https://blnkfinance.com/glossary/aml) - [Account normality Account normality is which side increases a balance. Debit-normal accounts rise on debit and fall on credit. Credit-normal accounts do the reverse. Assets and expenses are usually debit-normal. Liabilities, equity, and revenue are usually credit-normal. Source and destination name the path of the money. Normality is how each side of that path is signed. Read more](https://blnkfinance.com/glossary/account-normality) - [Agentic payments Agentic payments are transfers an AI agent originates. The agent decides to pay, then calls your API or MCP. The ledger does not grow a new object for that. The agent is a client. It still needs a mandate, a unique reference, and the same queue and locks as a human click. What changes is how sloppy the caller can be. Read more](https://blnkfinance.com/glossary/agentic-payments) ## B - [Balance A balance is a store of value in the ledger: a wallet, a bank account, a card, points, escrow, or an internal account such as revenue. Every transaction moves between two balances. The number you show is the sum of those movements. Read more](https://blnkfinance.com/glossary/balance) - [Balance caching Balance caching means you store the current total on the balance instead of summing the whole log on every read. The cache is the running number. The log is still the source of history. A cache you keep in Redis and never write back to the book is a second ledger, and it will lie. Read more](https://blnkfinance.com/glossary/balance-caching) - [Batch processing Batch processing means the rail or the bank collects many payments and clears them on a schedule, not one by one as they arrive. ACH, Bacs, and many card captures work this way. Instant rails do not. Your ledger can still post each item when you accept it. Settlement of the batch is a later event. Read more](https://blnkfinance.com/glossary/batch-processing) ## C - [Chart of accounts A chart of accounts is the named list of balances your product will post to. Each name is a bucket: wallets, clearing, fees, revenue, payouts. You draw it before you write posting code. If a movement has no account on the chart, you do not have a place to put it. Read more](https://blnkfinance.com/glossary/chart-of-accounts) - [Clearing account A clearing account is a temporary balance that holds money between two real homes. You debit the wallet and credit clearing when a payout starts. You debit clearing when the rail pays. If clearing is not zero at the end of the day, something is still open or something broke. Read more](https://blnkfinance.com/glossary/clearing-account) - [Client money account A client money account holds funds that belong to customers, not to you. Safeguarding and client-money rules say you must keep that pot separate from operating cash and be able to show who owns it. The account is at a bank. The split is in your ledger. Read more](https://blnkfinance.com/glossary/client-money-account) ## D - [Distributed lock A distributed lock is a lock held outside the database so two workers cannot apply conflicting posts at the same time. The ledger locks the balances in a request, in a fixed order, then reads and writes. If it cannot get every lock, it releases what it has and retries. Without the order, two transfers deadlock. Read more](https://blnkfinance.com/glossary/distributed-lock) - [Double-entry Double-entry means every transaction has two sides: a debit and a credit of the same amount. In product language those sides are source and destination. The book stays balanced because you never post one side alone. A fee, a deposit, and a refund all use that pair. Read more](https://blnkfinance.com/glossary/double-entry) ## E - [Escrow Escrow is money held until a condition is met, then released to one party or returned to the other. Marketplaces, property, and payroll all use it. In a ledger, escrow is a balance with a hold, not a different kind of currency. Read more](https://blnkfinance.com/glossary/escrow) ## F - [FBO account An FBO account is a bank account titled “for the benefit of” your customers. The bank holds the funds. Your ledger says who owns which part. The title is a custody structure, not a product feature. Without a per-customer book, the FBO is only a pooled pot with a legal name on it. Read more](https://blnkfinance.com/glossary/fbo-account) - [Faster Payments Faster Payments is the UK’s near-instant credit rail between participating banks. Sends use sort code and account number. Posts happen in seconds, any day, and are usually final. It is not Bacs. Bacs is the batch system. If you say “UK bank transfer” in a product, you need to know which one you filed. Read more](https://blnkfinance.com/glossary/faster-payments) - [FedNow FedNow is the Federal Reserve’s instant payments service. Participating banks can send and receive US dollar credits in seconds, 24 hours a day. Acceptance is final. It sits next to RTP as a second instant rail, not as a replacement for ACH. Read more](https://blnkfinance.com/glossary/fednow) - [Fedwire Fedwire is the Federal Reserve’s real-time gross settlement service for US dollar transfers between banks. Each payment settles individually in central-bank money, usually the same business day, and is final. It is the high-value cousin of ACH. Your ledger still holds the customer wallet until you send. Read more](https://blnkfinance.com/glossary/fedwire) - [Float Float is money that has left one balance and has not yet landed on another. It exists because rails take time. The sender is down. The receiver is not yet up. Someone holds the difference, often a bank or a processor, until settlement. Read more](https://blnkfinance.com/glossary/float) ## G - [General ledger A general ledger is the book of the organization’s own accounts: revenue, fees, cash, and other internal balances. In Blnk it is created with the instance. Customer wallets live in other ledgers you create. The general ledger is the company’s book, not the customer’s. Read more](https://blnkfinance.com/glossary/general-ledger) ## H - [Historical balance A historical balance is the amount a ledger balance held at a time in the past. You ask for a timestamp and get the balance as of that instant. It is a read, not a new account. Teams use it for statements, disputes, and reconstruction. Read more](https://blnkfinance.com/glossary/historical-balance) - [Hot balance A hot balance is a ledger balance that takes so many concurrent posts that it becomes a bottleneck. The row is locked, queued work piles up, and latency rises. Engineers often call this a hot row. The balance is the thing that overheats. Read more](https://blnkfinance.com/glossary/hot-balance) ## I - [IBAN An IBAN is an International Bank Account Number: a country code, a check digit, and a domestic account identifier packed into one string. SEPA and many cross-border payments use it. It is an address. It is not a balance. The ledger still needs a wallet for the person who owns that address. Read more](https://blnkfinance.com/glossary/iban) - [ISO 20022 ISO 20022 is a set of XML message schemas for payments, cash management, and related banking traffic. SEPA, RTP, FedNow, and SWIFT’s newer wires use it. The standard names the fields. It does not move money. Your rail still settles. Your ledger still records the obligation. Read more](https://blnkfinance.com/glossary/iso-20022) - [Idempotency Idempotency means sending the same request twice produces one movement, not two. In a ledger that is a unique reference on the transaction. Timeouts, retries, and double clicks all resend work. The reference is what stops the second post from becoming a second credit. Read more](https://blnkfinance.com/glossary/idempotency) - [Identity An identity is the customer or organization record you attach to balances. It is not the wallet. It is who the wallet belongs to. One identity can have many balances. A balance without an identity still works. You just cannot ask “who.” Read more](https://blnkfinance.com/glossary/identity) - [Immutability Immutability means a posted transaction is not edited. A new status, a refund, or a void is a new record that points at the old one. The history stays in the log. You can reconstruct what the book showed at any time without trusting an overwrite. Read more](https://blnkfinance.com/glossary/immutability) - [Inflight An inflight transaction is a money movement that is held until you commit or void it. The amount is reserved on inflight balances, and the settled balances do not change. Use it when authorization, verification, or an external rail has to finish before the transfer should apply. Read more](https://blnkfinance.com/glossary/inflight) ## J - [Journal entry A journal entry is one balanced posting: the same amount leaves one account and arrives on another. In a product ledger that posting is a transaction with a source and a destination. Accountants say journal entry. Engineers say transaction. The book sees one movement either way. Read more](https://blnkfinance.com/glossary/journal-entry) ## K - [KYB KYB is Know Your Business: the checks you run on a company before you hold a balance for it. You identify the legal entity and the people who own or control it. KYC is the person. KYB is the entity. A marketplace that pays out to businesses needs both. Read more](https://blnkfinance.com/glossary/kyb) - [KYC KYC is Know Your Customer: the checks you run to identify a person and decide if you will hold a balance for them. It is not the wallet. It is the gate in front of the wallet. A ledger can store the identity and the decision. It does not replace a KYC vendor or a CIP policy. Read more](https://blnkfinance.com/glossary/kyc) ## L - [Ledger A ledger is the system of record for money in a product. It stores balances and the transactions that change them. Banks, wallets, and marketplaces each have one, even when they also use a bank. The bank statement is not the product’s book. Read more](https://blnkfinance.com/glossary/ledger) - [Ledger database A ledger database is the store that holds balances and the transactions that change them. It is built for append-only posts, unique references, and balance invariants. Your application database holds customers and sessions. If you post money in the app database, you have two books, and they will drift. Read more](https://blnkfinance.com/glossary/ledger-database) - [Ledger sharding Ledger sharding splits one logical balance into many physical balances so concurrent posts stop locking the same row. Your app picks a shard, posts to it, and sums the shards when it reports the total. The customer still sees one pot. The book has several. Read more](https://blnkfinance.com/glossary/ledger-sharding) ## M - [MCP MCP is the Model Context Protocol. It gives an AI agent a typed list of tools instead of a pile of undocumented HTTP. The agent calls those tools the way your app calls an SDK. In a ledger, the useful tools are “get this balance,” “find this reference,” and “record this transfer.” MCP is the pipe. It is not a payment rail. Read more](https://blnkfinance.com/glossary/mcp) - [Mint and burn Minting creates new stablecoin tokens against collateral. Burning destroys tokens when someone redeems. Issuers do that. If you are not the issuer, you receive and send existing tokens. Your ledger still records those movements. Calling a customer credit a “mint” hides that you did not create supply. Read more](https://blnkfinance.com/glossary/mint-and-burn) - [Money movement map A money movement map is a diagram of how funds move through your product. Each arrow has a source and a destination. You draw the map before you write posting code, so every balance and every transfer has a place. Read more](https://blnkfinance.com/glossary/money-movement-map) - [Money transmission Money transmission is receiving customer funds and paying them out to someone else, or holding them in between. Many countries license that activity. An FBO or safeguarding structure is how teams avoid becoming the transmitter themselves. The ledger is how you prove you did not mix those funds with your own. Read more](https://blnkfinance.com/glossary/money-transmission) ## N - [Nacha file A Nacha file is the fixed-width batch file banks exchange to originate ACH. It lists credits, debits, prenotes, returns, and NOCs. Your processor may hide the file behind an API. The settlement and the returns still arrive as that format, or as a report derived from it. Reconciliation reads those lines. Read more](https://blnkfinance.com/glossary/nacha-file) - [Net vs gross settlement Gross settlement pays each transfer in full, one at a time. Fedwire and most instant rails are gross. Net settlement offsets many obligations and pays only the difference at the end of a window. ACH nets. Your ledger should still record each customer movement in full. The net is how the banks pay each other. Read more](https://blnkfinance.com/glossary/net-vs-gross-settlement) - [Notification of Change A Notification of Change (NOC) is an ACH message that the receiving bank wants you to update account details. The payment may have posted. The next one will fail or mis-route if you ignore the NOC. Typical changes are a new account number, a new routing number, or a corrected name. Read more](https://blnkfinance.com/glossary/notification-of-change) ## O - [ODFI vs RDFI The ODFI is the Originating Depository Financial Institution: the bank that files the ACH entry. The RDFI is the Receiving Depository Financial Institution: the bank that posts it. One bank can be both. Your product talks to an ODFI when you send, and feels the RDFI when a return or NOC comes back. Read more](https://blnkfinance.com/glossary/odfi-vs-rdfi) - [OFAC OFAC is the US Office of Foreign Assets Control. It publishes sanctions lists. If a customer, a beneficiary, or a bank is on a list, you cannot send or hold that payment. The screen happens in your app or at the bank. The ledger records the transfer you were allowed to post, or the one you blocked and never sent. Read more](https://blnkfinance.com/glossary/ofac) - [Omnibus account An omnibus account is a single bank account that holds funds for many customers. The bank sees one balance. Your ledger splits that balance into wallets, escrow, and other books. The split is your job. The bank will not do it for you. Read more](https://blnkfinance.com/glossary/omnibus-account) - [Open-loop payment system An open-loop payment system lets value leave your product on a public rail and arrive in an account you do not issue. Cards, ACH, and UPI are open-loop. A closed-loop system only moves value between wallets you issue. Most products start closed-loop and add an open-loop door for payouts and deposits. Read more](https://blnkfinance.com/glossary/open-loop-payment-system) - [Optimistic locking Optimistic locking updates a row only if no one else changed it since you read it. The row carries a version. You write “set balance where version = 7.” If the version moved, the write fails and you retry. Pessimistic locking holds a lock for the whole read-compute-write. Optimistic assumes collisions are rare. Read more](https://blnkfinance.com/glossary/optimistic-locking) - [Overdraft An overdraft lets a source balance go negative so a transaction can still post. The debit is larger than the credit on that balance. Use it when you mean to extend credit. Turn it off when a wallet or escrow must never go below zero. Read more](https://blnkfinance.com/glossary/overdraft) ## P - [Parent transaction A parent transaction is the earlier record that a later record points to. Ledgers that do not edit history create a new row for each new state. The parent field is the link. Follow it and you get the lineage of a transfer. Read more](https://blnkfinance.com/glossary/parent-transaction) - [Payment rail A payment rail is the network that moves money between banks or wallets. ACH, RTP, FedNow, and wire are rails. A ledger is not a rail. The rail settles the bank money. The ledger records who owes whom while that happens. Read more](https://blnkfinance.com/glossary/payment-rail) - [Penny test A penny test is a small live payment you send to confirm an account can receive funds, and often to confirm the name on it. You send a few cents, read the statement descriptor or the return, then send the real amount. It is not KYC. It is a rail probe. Read more](https://blnkfinance.com/glossary/penny-test) - [Pix Pix is Brazil’s instant payment system, run by the Central Bank. People pay with a key — CPF, email, phone, or a random key — and the credit posts in seconds, any day. It is a rail. Your ledger still needs a wallet, a clearing pot, and a match from the Pix end-to-end id to the post. Read more](https://blnkfinance.com/glossary/pix) - [Precision Precision is the multiplier that turns a display amount into the currency’s smallest unit. Most fiat uses 100, so 10.50 becomes 1050. Bitcoin uses 100000000. Ledgers store that integer and do all math on it. They do not store floats, because floats drift. Read more](https://blnkfinance.com/glossary/precision) ## Q - [Queuing Queuing means the ledger accepts a transfer now and applies it later. The request is stored as work. A worker picks it up, locks the balances, and posts. The HTTP response is a receipt, not a commit. If you treat queued as settled, two callers will spend the same money. Read more](https://blnkfinance.com/glossary/queuing) ## R - [RTP RTP is The Clearing House’s Real-Time Payments network in the US. Eligible banks can send and receive credit transfers in seconds, any day of the year. Once the receiver’s bank accepts, the payment is final. It is a rail, not a ledger. Read more](https://blnkfinance.com/glossary/rtp) - [Reconciliation Reconciliation is matching your ledger to an external record, such as a bank file or a card statement. The point is to find the posts that are missing, duplicated, or wrong. Matching rules decide what counts as the same payment. Read more](https://blnkfinance.com/glossary/reconciliation) - [Reference A reference is the unique key you put on a transaction so the ledger can refuse a duplicate. If you send the same reference twice, the second request does not create a second movement. People often call this idempotency. The field name is reference. Read more](https://blnkfinance.com/glossary/reference) - [Refund A refund is a new transaction that sends value back along a path you already posted. It does not delete the original. The original stays. The refund points at it as its parent. Rails may also refund; your book still needs its own record. Read more](https://blnkfinance.com/glossary/refund) - [Request for Payment A Request for Payment (RFP) is a message that asks a payer to send money, usually on an instant rail such as RTP. The request is not a debit. The payer still pushes a credit. Until that credit arrives, you have an invoice, not a deposit. Read more](https://blnkfinance.com/glossary/request-for-payment) - [Reversal A reversal is taking back a payment you already originated, using the rail’s reversal process. In ACH, the ODFI can reverse a credit sent in error under Nacha rules and deadlines. It is not a customer refund and not a return. Your book still needs a new post the other way. Read more](https://blnkfinance.com/glossary/reversal) ## S - [SEC code An SEC code is the Nacha Standard Entry Class that describes how an ACH item was authorized and what kind of account it hits. PPD is a consumer credit or debit you authorized on paper. WEB is an internet-authorized consumer debit. CCD is corporate. The code changes return windows and what you are allowed to file. Read more](https://blnkfinance.com/glossary/sec-code) - [SEPA SEPA is the Single Euro Payments Area: a set of schemes for euro transfers across participating countries. SCT is a credit. SDD is a debit. SCT Inst is the instant credit. Identifiers are IBANs. The scheme is the rail. Your ledger is still the book for wallets and fees. Read more](https://blnkfinance.com/glossary/sepa) - [SWIFT SWIFT is a messaging network that banks use to send payment instructions, especially cross-border wires. SWIFT does not hold the funds. Correspondent banks move the money. A SWIFT code (BIC) names the institution. Your ledger records the obligation. The wire is the rail that follows the message. Read more](https://blnkfinance.com/glossary/swift) - [Same-day ACH Same-day ACH is the ACH network with extra windows so an item can settle on the same business day if you file before the cutoff. It is still ACH. It still batches. It can still return. It is not RTP and it is not FedNow. Treat it as faster ACH, not an instant rail. Read more](https://blnkfinance.com/glossary/same-day-ach) - [Scheduled transaction A scheduled transaction is a transfer you create now to run at a time in the future. Until that time it is not applied. When the clock hits, it enters the same lifecycle as any other transaction and can apply, hold, or reject. Read more](https://blnkfinance.com/glossary/scheduled-transaction) - [Settlement Settlement is when value actually moves between the parties who owe it. Clearing is the matching of instructions. Finality is the point after which the payment will not be unwound. A ledger can record the obligation long before settlement, and must record the moment it happens. Read more](https://blnkfinance.com/glossary/settlement) - [Sort code A sort code is a six-digit UK bank identifier, usually written 20-00-00, paired with an eight-digit account number. Faster Payments, Bacs, and CHAPS use that pair. It is a routing address, not a ledger balance. Store it on the payout method. Post to wallets and clearing pots. Read more](https://blnkfinance.com/glossary/sort-code) - [Source and destination Source and destination are the two sides of a ledger transfer. The source is where the value leaves. The destination is where it arrives. Every transaction has both. That pair is how a double-entry ledger records a movement without a one-sided post. Read more](https://blnkfinance.com/glossary/source-and-destination) - [Stablecoin A stablecoin is a token that aims to hold a stable value, usually one unit of a fiat currency. The chain moves the token. Your product still needs a ledger if you owe customers a balance, take a fee, or hold inventory. The wallet on-chain is not the customer book unless you have one customer and one address. Read more](https://blnkfinance.com/glossary/stablecoin) - [Subsidiary ledger A subsidiary ledger is a detailed book that rolls up to one account in the general ledger. Customer wallets are the usual case: thousands of balances, one control account. The general ledger holds the total. The subsidiary holds who owns which part. They must add up. Read more](https://blnkfinance.com/glossary/subsidiary-ledger) - [Sweep account A sweep account is a balance that you empty or top up on a rule: end of day, above a ceiling, below a floor. The sweep is a transfer you post, not a bank feature you get for free. If the bank also sweeps, you still record the movement or recon will break. Read more](https://blnkfinance.com/glossary/sweep-account) ## T - [Transaction A transaction is a movement of value from a source balance to a destination balance. It has an amount, a currency, a reference, and a status. Nothing else changes a balance. If the money moved in the product, the ledger has a transaction for it. Read more](https://blnkfinance.com/glossary/transaction) - [Transaction lifecycle A transaction lifecycle is the set of statuses a transfer moves through from accept to finish. In Blnk those statuses are QUEUED, APPLIED, INFLIGHT, VOID, and REJECTED. Each new status is a new record that points at the last one. The old row stays. Read more](https://blnkfinance.com/glossary/transaction-lifecycle) ## U - [UPI UPI is India’s Unified Payments Interface. Payers send to a virtual payment address, such as name@bank, and the credit is instant. It is an account-to-account rail on top of the banks that participate. Your product still needs a ledger if you hold balances or sit between two customers. Read more](https://blnkfinance.com/glossary/upi) ## V - [Virtual account A virtual account is a unique account number that still settles into one real bank account. Payers send to that number. You use it to know which customer or invoice the credit belongs to. The virtual number does not hold money. The ledger does. Read more](https://blnkfinance.com/glossary/virtual-account) ## W - [Wallet A wallet is a balance that belongs to a person or an organization in your product. It is not a bank account. It is a row in your ledger that you credit and debit as the customer uses the product. The bank account behind it is usually omnibus. Read more](https://blnkfinance.com/glossary/wallet) - [Webhook A webhook is an HTTP callback the ledger sends when a transaction or other record changes. You do not poll for every status. You listen. A transaction hook is the same idea scoped to one event type. Deliveries retry. Your handler must be idempotent. Read more](https://blnkfinance.com/glossary/webhook) - [Wire A wire is a bank-to-bank transfer sent over a wholesale network such as Fedwire or CHIPS. It is used for large or time-sensitive payments. Wires are usually same-day and hard to reverse once the receiving bank has accepted them. Fees are higher than ACH. Read more](https://blnkfinance.com/glossary/wire) ## X - [XVA XVA is a family of valuation adjustments applied to the price of a derivative to account for credit, funding, capital, and margin costs. CVA, DVA, FVA, KVA, and MVA are the common members. The unadjusted mid-market price is not the price a dealer can book. XVA is the gap. Read more](https://blnkfinance.com/glossary/xva) ## Y - [Yield Yield is the return an investment pays, written as a percentage of its price or face value. A bond’s coupon over its market price is current yield. The rate that discounts remaining cash flows back to today’s price is yield to maturity. The number moves when the price moves, even if the coupon does not. Read more](https://blnkfinance.com/glossary/yield) - [Yield curve A yield curve plots the yields of similar debt against time to maturity. Most people mean the Treasury curve. A rising curve is normal: longer loans pay more. A falling curve is inverted and often read as a recession signal. The curve is market data. It is not a ledger object. Read more](https://blnkfinance.com/glossary/yield-curve) - [Yield management Yield management is a pricing method that changes the price of a fixed, perishable inventory so the seller takes more revenue from the same stock. Airline seats, hotel rooms, and ad slots are the usual cases. It is not investment yield. The shared word is an accident of English. Read more](https://blnkfinance.com/glossary/yield-management) ## Z - [Z-score A Z-score in credit work is a number that estimates how close a company is to default. The Altman Z-score is the common one: it combines a few financial ratios into one figure. A low score means higher bankruptcy risk. It is a model output, not a balance. Read more](https://blnkfinance.com/glossary/z-score) - [Zero-based budgeting Zero-based budgeting is a planning method that starts every period at zero. Each cost has to be justified again. Last year’s spend is not a default. The method is about what you allow, not about how a ledger posts. The book still records the actuals after the plan is set. Read more](https://blnkfinance.com/glossary/zero-based-budgeting) - [Zero-coupon bond A zero-coupon bond pays no periodic interest. It is sold below face value and redeemed at par. The gap between the purchase price and par is the return. That return is still interest. It just arrives as one amount at the end, or as accretion along the way. Read more](https://blnkfinance.com/glossary/zero-coupon-bond) - [Zigzag indicator A zigzag indicator is a chart overlay that draws a line only when price moves by more than a set percentage. Smaller swings are ignored. Traders use it to mark swing highs and lows. It does not predict the next move. It restates the last one after the turn has already happened. Read more](https://blnkfinance.com/glossary/zigzag-indicator) No terms match that search.