Guide to Analysing Companies

Unit trust
The name for a mutual fund in the UK and in a number of
other English-speaking countries.
Universal bank
A bank that is able to carry out almost any type of financial
business, from underwriting an issue of securities to straight
lending and deposit-taking. Universal banks have historically
been strong in Switzerland and Germany, but banks in most
countries are becoming more and more universal.
Unsecured
Without security against a borrower’s assets. Such lenders
have to wait until all secured creditors have been paid before
they can get anything back from a debtor’s liquidation.
U
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Use of funds
An accounting statement of the flow of funds in and out of a
company during the year. In some countries such statements
are legally required; in others they are voluntary. (See also
sources of funds.)
Usury
The charging of an exorbitant rate of interest. Nowadays
all developed countries have laws to protect borrowers from
usury.
 Most US states have laws limiting the amount of interest
that borrowers can be charged. The limits vary according
to the type of lender and the type of loan. Some federal
laws allow the limits to be broken under special
circumstances.
 In the UK anti-usury laws can be traced back to King
Henry VII. At one stage in the 19th century anything over
48% prima facie was considered to be usurious.
 In continental Europe, the concept is also embodied in
law. 
(See also 
ZAKAT
.)
USURY
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