See Renewable Obligation Certificates

Renewable Obligation Certificates; the tradable ‘currency’ of the RO.

Return on Capital Stock. The Bank's net income for a given period expressed as an annualized rate of return on members' investment in the Bank's capital stock. Calculated as earnings for a period (e.g., a quarter or a year) divided by the average balance of capital stock outstanding during the period, and adjusted to an annualized rate.