preferred stock issued by a subsidiary located in a tax haven. The subsidiary relends the money to the parent company. Bloomberg Financial Dictionary
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MIP UK US noun [C] PROPERTY
► ABBREVIATION for mortgage indemnity premium: a type of insurance in the UK that is paid by someone borrowing money to buy a house. The insurance protects the lender against a fall in the value of the house if the borrower cannot pay back the loan: »
Most building societies insist on an MIP for loans over 90%.
Financial and business terms. 2012.