An uncommitted facility is a loan with loosely specified terms and conditions but with an understanding that the funds will be made available by the lender when the borrower demands.

An underlying asset is the asset on which the price of a derivative depends.

Underwriting assesses the borrower's eligibility to receive a credit, a loan or a bond, by analyzing financial and other information furnished by the potential borrower or obtained elsewhere.

An unexpected loss describes the loss in excess of the expected loss and is expressed with a certain confidence level.

Value-at-Risk, a measure of risk, estimates the potential loss of at a specified confidence level using statistical analysis.

Vega, a measure of sensitivity to volatility, is the first derivative of the option value with respect to the volatility of the asset or instrument underlying the option.

Vendors, sellers of goods or services, in operational risk management typically refer to external entities providing various operational risk management related services.

Volatility, or conditional standard deviation, quantifies the risk of a financial instrument over a specified time horizon.

A yield curve illustrates the relationship between prevailing interest rates based on the time remaining to maturity.

A zero-coupon bond is a type of fixed income instrument that makes only one payment at maturity, which includes both interest accrued and the repayment of principal; it is traded at a deep discount from its stated principal value.