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exchange efficiency
exchange equalization account
exchange force
exchange of assets
exchange of stock
exchange offer
exchange particle
exchange privilege
exchange rate
Exchange Rate Mechanism
exchange rate risk
exchange student
exchangeable security
exchequer
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excimer laser
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excess reserves
ex·cess re·serves


plural noun 
Definition:
 
reserves above requirement: the amount of stockholders' funds in a company's balance sheet over and above the amount needed for a particular purpose
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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