Joint Account:

An agreement between two or more people to share a bank account or investment registration or the risk and financing responsibility in purchasing or underwriting securities.

Joint and Last Survivor:

1) A type of annuity that pays benefits until both annuitant and the annuitant's spouse die.

2) The Banking industry will register a Guaranteed Investment Certificate with the same type of effect, the certificate is with the words "JTWRS" (Joint Tenants With Rights to Survivor) allows the full ownership the be transferred to the other registered person named on the note.

Joint Tax Return:

A tax return filed by two people, usually spouses

Joint Tenants with Right of Survivorship:

A type of account registration on a GIC, term deposit or joint bank account. On the death of one account holder, ownership of the account assets is transferred to the remaining holder or holders.

Joint Venture:

An agreement between two or more business's or individuals to undertake the same business strategy and plan of action

Junior Debt (Subordinate Debt):

Junior debt is defined as those (stakeholder) holders have a claim on the firm's assets only after senior debt holder's claims have been satisfied.

Junk Bond:

A bond which pays an unusually high rate of return to compensate for a low credit rating

Junk Bomb:

A junk bond in a investor's portfolio when bankruptcy happens.

This Glossary of financial terms was created by Fiscal Agents Financial Information Services, Research Department. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, mechanical, electronic, photocopying, recording, or otherwise, without the prior written permission of Fiscal Agents. Copyright Fiscal Agents © 2000. All Worldwide Rights Reserved. See Notes and Credits or see permissions page.