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Big Bang (G1)<br />The DEREGULATION of the London Stock Exchange on 27 October 1986 which involved the ending of minimum dealing commissions and the distinction between dealers and jobbers. Under the fierce gale of competition, smaller firms found it difficult to survive and even the larger firms withdrew from market-making by 1990. Firms anxious to be ahead of their rivals offered grossly inflated salaries to prospective staff and the best of existing staff, making the volume of consequent redundancies greater.<br /> The seeds of the recent changes were sown in the early 1970s when UK coMPETl-

non-goal equilibrium (EO)<br />An EQUILIBRIUM state that is the consequence of the interaction of economic forces, not the conscious pursuit of a particular agent. A major case is NATIONAL INCOME in a MARKET ECONOMY.<br /><em>See also:</em> goal equilibrium

<strong>Forgiveness</strong> – The release of a borrower or any comaker from all or a portion of his or her loan obligation due to qualifying child care service or qualifying teaching service.

maturity (GO)<br />The terminal date at which a BOND, BILL or debt is due to be paid.<br /><em>See also:</em> term structure of interest rates

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