Examlex
Explain the 1992 crisis that led to the breakdown of the European Union's Exchange Rate Mechanism. What disadvantages of exchange-rate targeting were exhibited during this crisis?
Collateral
An asset pledged as security for repayment of a loan, forfeitable in the event of a default.
Unsecured Loans
Loans that are provided without requiring collateral from the borrower.
Loan Obligation
A legal commitment or responsibility to repay borrowed funds, including any accumulated interest.
Carrying Value
Carrying value, also known as book value, is the value of an asset as reflected in an entity's accounting records, minus any depreciation, amortization, or impairment costs.
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