nkfurt School: Name given to a group of innovative social theorists, established in 1923 at University of Frankfurt, whose ideas remain important decades after the School was formally dissolved. Though there is no “Frankfurt School” approach to popular culture per se (the individual members agreed on no fixed set of ideas or concepts, and often disagreed with one another), the School's name is used to describe approaches that emphasize the production of popular culture and insist on its ideological constraints. The goal of members of the University's Institute for Social Research was the elaboration of a “critical theory” of society. Critical theory has since become the name for a diverse set of practices in social and cultural theory, philosophy, and literary studies. Members of the Frankfurt School included Horkheimer, Adorno, Herbert Marcuse, Erich Fromm, Otto Kirchheimer, and Leo Lowenthal. Some of the key texts produced by members of the school include Theodor Adorno's Negative Dialectics and Herbert Marcuse's One-Dimensional Man. See also Close-Up box 4.1 in textbook.
Forward Rate Agreement. A transaction in which two counterparties agree to a single exchange of cash flows based on a fixed and a floating rate respectively. A Forward Rate Agreement can be viewed as a one-date interest rate swap.
Is a Forward Rate Agreement.
See Forward Rate Agreement.
Fixed Radio Access; see WLL.
Forward Rate Agreement. contract for borrowing or lending at a stated interest rate over a stated time period that begins at some time in the future. FRAs are used by parties wishing to protect themselves against future interest-rate movements.
Abbreviation for Forward Rate Agreement.
Forward Rate Agreement. This agreement allows purchasers/sellers to fix the interest rate for a specified period in advance.
Forward rate agreement. Agreement to borrow or lend at a specified future date at an interest rate that is fixed today.
Forward Rate Agreement. An agreement to pay or receive, on an agreed future date, the difference between a fixed interest rate agreed at the outset and a reference interest rate actually prevailing on a given future date for a given period.
Fixed Radio Access. A telephone system where subscribers are connected to the Public Switched Telephone Network using radio signals rather than copper wire for part or all of the connection between the subscriber and the switch. Includes cordless access systems, proprietary fixed radio access and fixed cellular systems. Synonymous with Radio in the Loop and Wireless Local Loop Systems.
Forward Rate Agreement. A contract in which two parties agree to an interest rate (fixed or floating) that will apply to a certain notional principal during a specified future period of time. An FRA is generally settled in cash at the beginning of the forward period.
Forward Rate Agreement. A bilateral forward contract that fixes the interest rate on the day of the agreement for payment at a future settlement date; typically this can be up to two years later. FRAs are used to hedge against interest rate exposure in the sense that one of the parties pays a fixed rate and the other a variable rate. If, at the settlement date, the market rate is lower than the previously agreed rate, the purchaser will indemnify the seller for that difference and conversely, if the market rate has risen, the seller will compensate the purchaser. Also called future rate agreement.
Forward Rate Agreement. An agreement where the counterparties agree to pay or receive the difference between LIBOR on the expiry date of the FRA and the agreed FRA rate. An example of a contract for a difference and thus an investment.
