Maturity

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maturity

n. 1) the date when the payment of the principal amount owed under the terms of a promissory note or bill of exchange becomes due. Quite often a note states that failure to pay interest or installment payments when due "accelerates" the note, making the "maturity date" immediate if such payments are demanded and not paid. 2) the age when one becomes an adult, which is 18 for most purposes. (See: promissory note, bill of exchange, acceleration, legal age)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

MATURITY. The time when a bill or note becomes due. In order to bind the endorsers such note or bill must be protested, when not paid, on the last day of grace. See Days of grace.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
In a world without fractional reserve banking, banks who want to mismatch maturities, have to attract real short-term savings.
We limit the sample to nonconvertible, unsecured, public debt offerings with maturities of at least one year, and we eliminate all observations where the issuing firm does not have a Moody's debt rating at the time of issue.
Whereas in mid-2002, high-yield debt paid over 10 percentage points more than Treasury bonds with similar maturities, today that yield differential is just 3.5 percentage points.
In Test 1, we examine whether maturity is an upward-sloping function of the risk rating as predicted by Flannery's model versus a nonmonotonic function of the risk rating with the shortest maturities for the lowest and highest risk ratings as predicted by Diamond's model.
By agreement with the portfolio manager, the target average investment maturity is six months, with individual maturities permitted up to two years, on the condition that the city can withdraw funds as needed without penalty.
Any large, reputable broker with a trading desk dedicated to Treasury bonds should be able to get the desired maturities at a competitive price.
Example: Fixed principal T-Bonds with 10-year maturities were paying 5.51% on April 7, 1998, as quoted in the Wall Street Journal.
Strategic objectives give rise to strategic planning maturities. These maturities reflect the scheduled points in time by which strategic objectives are scheduled to be accomplished.
The most pronounced increases occurred at intermediate maturities, perhaps reflecting the improved cyclical outlook for business activity.
options, indefinite maturities, contingent payments,
BoS is seeking investors' consent for the implementation of a 12-month extendible maturity (soft bullet) for the two remaining covered bonds series with hard-bullet maturities, constituting 50% of the outstanding covered bonds balance.