Fungible

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Fungible

A description applied to items of which each unit is identical to every other unit, such as in the case of grain, oil, or flour.

Fungible goods are those that can readily be estimated and replaced according to weight, measure, and amount.

References in periodicals archive ?
The enhanced liquidity and market integration associated with improved substitutability and fungibility would increase demand and reduce the cost of funding the debt.
While advancing neutrality, the elimination of the recapture rule may violate the policies supporting the fungibility approach for imputing liabilities to U.
Pack (1993) Foreign Aid and the Question of Fungibility.
The Fungibility model hypothesizes that a categorical grant recipient's effective post-grant budget constraint is unknown a priori and must therefore be estimated.
Notwithstanding any other provision of the Exchange Offer and Consent Solicitation, the Company's obligation to accept for exchange any Existing Notes validly tendered is subject to the satisfaction of certain general conditions described in the Exchange Offer and Consent Solicitation Statement, and the following special conditions: (i) a condition relating to the fungibility for U.
In prior comments filed on November 9, 1987, and February 14, 1989, TEI stated its position on the netting rule: it violates the general fungibility principle adopted by Congress in enacting section 864(e).
Although the reformulated netting rule reduces the degree to which third-party indebtedness will be directly allocated against foreign source income, it nonetheless violates the general fungibility principle adopted by Congress in enacting section 864(e).
The rating actions on HMEC reflect its reduced financial leverage in recent years and solid fixed-charge coverage, as well as the increased financial strength and fungibility of capital across the entire organization.
As the Senate Finance Committee recognized when considering a similar proposal in respect of the Tax Reform Act of 1986, to the extent section 864(e) employs a fungibility concept, it is appropriate to consider interest expense incurred and assets owned by foreign affiliates -- acknowledging that borrowings of foreign affiliates "may bear o the allocation of the interest expense that the U.
Best's view of the rated entities within the AIG enterprise reflects its perspective of the fungibility of capital across the enterprise, as well as the adequacy of capital at the operating entity level.
over-the-counter market will allow fungibility amongst exchanges, such as the Luxembourg Stock Exchange and London Stock Exchange, where most existing Taiwanese issuers traditionally list and/or trade their GDRs.
861-10T contains three exceptions to the rule that requires the apportionment and allocation of interest expense applying the fungibility principle: Qualified Nonrecourse Debt, Integrated Financial Transactions, and Related Controlled Foreign Corporation Debt (i.