AgdaPkt 2019-09-09 Joint SA PFA - Laserfiche WebLink

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6.A. - Page 44 of 44 REDWOOD CITY GLOSSARY For the Quarter Ended June 30, 2019 • PASS THROUGH SECURITY: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security. • REPURCHASE AGREEMENTS: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. • SETTLE DATE: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non -business day, the funds are exchanged on the next business day. • TRADE DATE: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place. • UNSETTLED TRADE: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place. • U.S. TREASURY: The department of the U.S. government that issues Treasury securities. Appendix • YIELD: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. • YTM AT COST: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis. • YTM AT MARKET: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. PFM Asset Management LLC 48