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  • Term of the Day

    London Club

    Informal association of major creditor banks who get together (not necessarily in London) as required to discuss debt rescheduling (as requested by borrower governments) and other banking matters. See also Group Of Ten.
  • Term of the Day

    Lome convention

    Agreement under which European community (now European Union) provides aid and extends trade and tariff preferences to 62 African, Caribbean, and Pacific (ACP) states. The first convention was held in 1975 at Lome, the capital of Togo.
  • Term of the Day

    Lombard rate

    The interest rate charged by the central bank of Germany for loans on a collateralized security.
  • Term of the Day

    logo

    Recognizable and distinctive graphic design, stylized name, unique symbol, or other device for identifying an organization. It is affixed, included, or printed on all advertising, buildings, communications, literature, products, stationery, and vehicles. Not to be confused with a brand, which identifies a product or family of products. Also called logotype.
  • Term of the Day

    logit function

    A function that produces an S-shaped graph, or sigmoid curve, that can be used to describe conditions that change over time. A logit function can describe the assimilation of a new product by customers, capturing the slow initial reaction, rapid acceptance once awareness increases, then the gradual tapering off of new purchases as the market becomes saturated. Also called a logistic function.
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